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Byte Academy Opens First International Fintech School in Singapore; Offers Guaranteed Job Placements with Tuition Refund

Xignite

Byte AcademySingapore, 10 November 2016 – Byte Academy announces the launch of its first international campus outside of New York City with programmes in FinTech, Data Science and Python Full-Stack Development. Byte Academy in Singapore opens its doors on 10 November 2016, to support Singapore’s Smart Nation initiative and help grow the local talent pool of industry-ready engineers and developers, alongside its strategic charter partners.

In Singapore, industry frontrunners from financial services, financial technology (“FinTech”), and start-up sectors are showcasing their support for industry-specific partnerships and education programmes such as that provided by Byte Academy. In spirit of this collaborative support framework, Standard Chartered Bank, IBM, INSEAD, Thomson Reuters and Microsoft have come together with Byte Academy to form the FinTech Skills Charter. This pro-bono advisory committee will help steer and set best-in-class standards for FinTech development in Singapore through active engagement with Byte Academy to configure all the policies and procedures for the benefit of the larger FinTech community in Singapore.

Byte Academy founder, Rak Chugh, believes that constant feedback and input by the industry leaders in respective verticals, can steer and better prepare candidates for tech jobs in industries such as finance and data science: “Technology is rapidly growing with new innovative solutions being created every day. This means that jobs and its relevant skill sets are evolving at a faster pace than ever. With the help from industry partners to constantly review and refine the curriculum, this will help ensure Singaporeans are better-equipped, better matched with the current industry demands with the applicable technical knowledge and skills.”

Nobuhiro Ito, Director, Developer Experience & Evangelism, Microsoft Singapore, adds: “Byte Academy’s presence here in Singapore will help accelerate skills development that will help contribute to a more vibrant FinTech ecosystem and build a stronger Singapore core. This initiative by Byte Academy is very much in line with Microsoft’s mission of empowering every individual and organisation on the planet to achieve more. We look forward to working closely with the Fintech Skills Charter Members to enhance the Fintech development, innovation and explore possible cross-border collaboration activities within the Fintech industry.”

On partnering with Byte Academy in Asia, Mr Shameek Kundu, Global Head of Data, Architecture and Innovation, Standard Chartered Bank, said: “Standard Chartered Bank is pleased to become a founding charter member of the inaugural FinTech Skills Charter. This signals our ongoing commitment to developing the talent pool which will support the growth of a vibrant FinTech sector. The establishment of Byte Academy is another progressive initiative which will help to fuel Singapore’s Smart Nation ambitions by adding to the country’s great ecosystem of financial institutions, technology companies, universities and research organisations.”

Annie Choy, Managing Director, IBM Singapore adds: “With a strong focus on innovation and the right technology in place, Singapore is well-positioned to become one of the world’s top FinTech hubs. At IBM, we are working extensively with government, industries and academia to co-develop solutions based on enterprise blockchain, cyber-security, and cognitive computing technologies to help serve the FinTech sector and further develop Singapore as a Smart Financial Centre.”

To bridge this engineering talent crunch in Singapore, Byte Academy has collaborated with the Infocomm Media Development Authority (“IMDA”) to provide individuals with a passion in technology, finance, and data science, a fast track to opportunities within the FinTech and Data Science domain through IMDA’s Tech Immersion and Placement Programme (“TIPP”).

“The growing trend of digitalisation and emerging financial technologies (FinTech) are reshaping the financial and insurance sectors. As a financial hub, Singapore is well placed for the development of innovative financial technologies. We are happy to have Byte Academy come on board IMDA’s Tech Immersion and Placement Programme, an initiative under the TechSkills Accelerator. With more programmes offered, particularly in Fintech and Data Science, Singapore’s manpower can enrich themselves with a strong variety of market relevant courses, enabling us to be in a better position to seize opportunities in these growing sectors.” Said Gabriel Lim, Chief Executive, Infocomm Media Development Authority.

As part of this collaboration with IMDA, Byte Academy Singapore will offer its 12- week full-time courses and individual 8-week short courses focussing in FinTech and Software Development. Its 12-week full-time courses will provide the fundamentals for students to work on real, industry-specific problems and allow for interaction with industry partners to prepare individuals for direct placement and job matching upon graduation. Byte Academy Singapore is also replicating its New York placement and guarantee programme, offering guaranteed job placements to its full-time course graduates through key partners in major tech and banking companies. It stands by this guarantee, committing to refund the full course fee, should they fail to place its graduates in a role within 6 months of course completion.

Further, Byte Academy’s programme also enables the bridging of FinTech communities in New York, California’s Silicon Valley and Singapore together, allowing for long term strategic growth and knowledge sharing of some of the world’s top FinTech companies into Asia.

“We applaud Byte Academy’s efforts to educate the next generation of FinTech innovators,” said Stephane Dubois, Xignite CEO and Founder. “We are seeing accelerated growth of financial technology innovation in the Asian market and elsewhere around the world, so the Singapore initiative is well timed.”

Byte Academy Singapore programmes welcomes individuals from communities such as:

  1. Career switchers without programming background and interested in a career in tech
  2. Current IT and banking professionals interested in up-skilling for new tech positions, or exploring entering the Finance, FinTech and Data Science industries
  3. Newly-minted fresh graduates from Science, Technology, Engineering and Mathematics (“STEM”) and other disciplines, with no prior programming knowledge, and with a passion in FinTech or Data Science
  4. Start-up founders and early employees who are under-equipped to design, programme, and ship their own products.

To further the development of local tech talent and meet the demand for IT and FinTech / Data Science professionals, IMDA and Byte Academy supports this programme by providing subsidized rates for Singaporean citizens. Singaporeans keen in a career in tech or upskilling their craft in software development enjoy subsidies of up to 70% off the listed rate.*

* Applicable for full-time courses under Tech Immersion and Placement Programme (TIPP), other terms and conditions apply.

 

About Byte Academy

Byte Academy is a leader in industry-oriented technology education with courses in Python software development, FinTech (“Financial Technology”), Data Science, Blockchain and MedTech (“Medical Technology”). Byte Academy established the first short-format FinTech programme and the first Python full-stack software development bootcamp in New York City, where it is headquartered. It has raised S$3m in series A funding for its first international campus and ASEAN headquarters in Singapore, and opens in India at the end of 2016.

Byte Academy is recognized for its small classes, career services and sense of community. Students hail from all over the world including countries such as Australia, Chile, Finland, Siberia, and Tunisia. Byte has brought thousands together from diverse backgrounds around the globe via its hackathons, conferences, founders’ talks, meetups and other events.

Byte Academy is proud to be the Education Partner for Singapore's inaugural FinTech Festival and will be holding "Byte Learning" workshops during the FinTech Conference (16 - 17 November at Singapore Expo).

Check out www.byteacademy.co to learn more.

About the founder

Rak Chugh, has worked in the financial industry for 25+ years. He founded Byte Consulting in 2000 and ran a publicly listed real estate company in London. Mr. Chugh founded Byte Academy when he realized the need to bridge the gap between finance and technology and create a new class of financial technology experts. He came to this realization after financial clients of the consulting firm he founded, Byte Consulting, could not find qualified programmers in New York City. Initial curriculum emphasized the Python coding language due to its high analytical capability and usage in the finance industry. Byte was the first educational institution in New York City to have a full-stack Python programme and the first with a short-format FinTech programme.

For media queries, please contact:

Christopher Quek
Managing Partner
Tri5 Ventures
PH: (+65) 9682 2727
christopher@tri5.asia

Ko Tze-Shen
Business Development Director
Byte Academy Singapore
PH: (+65) 9106 5111
TzeShen.Ko@byteacademy.co

 

Source: Byte Academy

RECENT NEWS

Read the article on A-Team Insight Blog

By Mike O’Hara, Special Correspondent

Cloud-delivered market data was once ‘over my dead body’ territory for institutional market data managers, who understandably fretted aloud about performance, security and licence compliance issues. But Covid-19 has forced those same data managers to confront the fact that many of their professional market data users are able to work from home (WFH), in turn driving financial firms to question whether the pandemic could be the catalyst for a rethink of their expensive-to-maintain market data infrastructures, with cloud part of the data delivery solution.

For many financial firms, today’s cloud delivery and hosting capabilities offer a viable solution for supporting trading and investment teams and their support staff, accelerating demand for cloud-based market data delivery infrastructures. The thinking is that cloud may help firms with their broader aim of reducing their on-premises technology and equipment footprint, a trend that was emerging even before the Coronavirus struck.

But embracing cloud delivery introduces new challenges for market data and trading technology professionals. While WFH will doubtless continue in some form, it’s far from clear that all market data delivery can be migrated to the cloud. Essential market data functions will remain on-premise. High-performance trading applications and low-latency market data connectivity, for example, will continue to rely on state-of-the-art colocation and proximity hosting data centres.

For many financial institutions, the challenge will be how to manage these several tiers of market data delivery and consumption. Going forward, practitioners will face a three-way hybrid of on-premises, cloud-based (private/public) and collocated market data services in order to support a range of users: from work-from-home traders and support staff to trading-room-based traders, analysts and quants, to collocated electronic applications like algorithms, smart order routers and FIX engines.

Indeed, A-Team will be discussing the infrastructure, connectivity and market data delivery challenges associated with cloud adoption in a webinar panel session on November 3. The webinar will offer a ‘reality check’ that discusses best practices for embracing cloud, colo and on-prem to support this new mix of user types, with emphasis on capacity, orchestration, licensing, entitlements and system / usage monitoring.

With firms’ appetite for exploring the potential of the cloud piqued, data managers are now looking at whether they can hope to take advantage of some of the more widely recognised benefits of the cloud – flexibility, agility, speed-to-market, scalability, elasticity, interoperability and so on – as they grapple with the future market data delivery landscape.

“Market data infrastructure, in terms of data vendor contracts, servers, and data centre space, typically represents a large, lumpy, cap ex expenditure”, says independent consultant Nick Morrison. “And so having the ability to transition that to something with costs that are more elastic, is highly attractive”.

Of course, every firm has its own unique requirements and nuances in this regard. Proprietary trading firms, asset managers, hedge funds, brokers and investment banks are all heavy consumers of market data. But the volume, breadth, depth and speed of the data they need in order to operate is highly diverse. Which means that there is no ‘one size fits all’ when it comes to sourcing and distribution mechanisms (including the cloud).

Market data and the cloud – what’s applicable?

As they consider their options for including cloud in their overall data delivery plans, data managers need to assess whether and how specific data types could be migrated to a hybrid environment: Level 1 (best bid/offer), level 2 (order book with aggregated depth at each price level) or level 3 (full order book)? Historic, end of day, delayed or real-time? Streaming or on-demand? This all has a bearing on the feasibility of cloud as a delivery mechanism.

Firms also need to consider their mix of public and private cloud, or what mix or hybrid cloud solution best fits their needs. What about virtualisation? Or internal use of cloud architecture, such as building a market data infrastructure around microservices and containers?

The marketplace already has identified at least one workable use-case: the use of historical, tick or time-series market data, usually to drive some form of analytics. A growing number of trading venues (such as ICE and CME) and service providers (Refinitiv, BMLL and others) now offer full level 3 tick data on a T+1 basis, delivered via the cloud. Plenty more providers can offer historic level 1 & 2 data.

This kind of capability can be used for critical use-cases, such as back-testing trading models for signal generation and alpha capture, performing transaction cost analysis (TCA), developing and testing smart order routers (SORs), or fine-tuning trading algos to better source liquidity. In all of these cases, cloud-hosted historical tick databases can reduce on-premises footprint and cost, while offering flexible access to vast computing resource on demand, and many are finding this compelling. “When churning through such vast quantities of data, having access to a cloud environment enables you to scale up horizontally to process that data”, says Elliot Banks, Chief Product Officer at BMLL.

Where things start to get more complicated, though, is with real-time market data, where two of the biggest hurdles from a cloud delivery perspective are speed and complexity.

Deterministic speed

From a trading standpoint, speed is always going to be a significant factor. Nobody, regardless of whether they’re an ultra-low latency high-frequency trading firm or a human trader dealing from a vendor or broker screen, wants to trade on stale prices. The tolerances may be different but the principle applies across the board.

It’s a safe bet that any firm currently receiving market data directly from a trading venue into a trading server (collocated at the venue’s data centre or hosted at a specialized proximity hosting centre operated by the likes of Interxion) relies on deterministic low latency, and is therefore unlikely to consider cloud as an alternative delivery mechanism.

Clearly, HFT firms with trading platforms that require microsecond-level data delivery won’t be replacing their direct exchange feeds and often hardware-accelerated infrastructure with the cloud, as the performance just isn’t there, for now at least. This, of course, could change if and when the trading venues themselves migrate to cloud platforms, creating a new kind of colocation environment, but that’s likely some way off. “But these guys only have a few applications that really need ultra-low latency data”, says Bill Fenick, VP Enterprise at Interxion. “Most of their applications, be they middle office, settlements or risk, they’re perfectly happy to take low-millisecond latency”.

And what about other market participants? Particularly those that currently make use of consolidated feeds from market data vendors, where speed is perhaps a secondary consideration? This is where cloud delivery may have some real potential. But it’s also where the issue of complexity rears its head.

Navigating the complexity

To deal with the myriad of sources, delivery frequencies, formats and vendor connections used to feed real-time market data into their trading, risk, pricing and analytics systems, many financial firms have built up a complex mesh of infrastructure that ensures the right data gets delivered to the right place at the right time. The integration layer required to handle these data inputs may be delivered as part of the data service or may stand alone as a discrete entity. In either case, it’s unrealistic to expect that all of this infrastructure can just be stripped out and replicated in a cloud environment.

To address this challenge, some service providers are starting to offer solutions where the source of the data is decoupled from the distribution mechanism, aiming for the holy grail where either, or both, can be cloud-based.

By building individual cloud-hosted microservices for sourcing market data, processing that data in a variety of ways, and delivering it into end-user applications, such solutions can help firms migrate their market data infrastructure incrementally from legacy to cloud-based platforms. Refinitiv is starting to shift much of its infrastructure onto AWS, and other specialist cloud-centric vendors such as Xignite and BCC Group also enable internal systems to be decoupled from data sources, thus facilitating a shift towards cloud-based infrastructure. “We believe the customer should be able to easily move from source to source and get as many sources as they want. The cloud enables this kind of flexibility”, says Bill Bierds, President & Chief Business Development Officer at BCC Group.

Firms have long wanted to become more vendor-agnostic by decoupling their data integration capability from the primary data source. One investment bank in London, for example, was able to decouple Refinitiv’s TREP platform from its Elektron data feed and switch to Bloomberg’s B-Pipe for its data, delivered via the TREP framework. From a market data perspective, this has given the bank more negotiating power and less vendor lock-in, opening up greater opportunities to utilise cloud-based market data sources in the future.

Permissioning and entitlements

Perhaps one of the toughest challenges that firms face around real-time market data on the cloud is that of entitlements and usage authorisation. Firms sourcing data from the two main data vendors, Refinitiv and Bloomberg, will generally be tied into their respective DACS and EMRS entitlements systems, often augmented by data inventory and contract management platforms like MDSL’s MDM or TRG Screen’s FITS and InfoMatch.

Entitlements can be a thorny subject when it comes to cloud-based distribution of market data. Firms are wary of falling foul of their licence agreements with their various data vendors, all of whom have different commercial considerations and penalties for non-compliance. This is why accurate tracking and reporting of market data access and usage is crucial.

The cloud can be a double-edged sword in this regard. One the one hand, transitioning from a dedicated infrastructure to the cloud might trigger extra licensing costs for what is effectively an additional data centre, so they may need to go through a period of paying twice for the same data. Indeed, firms may already be facing this situation as they entitle staff to operate from home while holding enterprise licences covering only their headquarters and regional offices.

On the other hand, cloud-based services such as those offered by Xignite and others can make it easier for firms to manage entitlements across multiple data vendors from a central source via a UI. “Our entitlements microservice is integrated with our real time microservice, to make sure that any distribution and any consumption of data is authenticated and entitled properly, so that only the right users have access to the data,” says Stephane Dubois, CEO of Xignite, whose microservices suite is supporting NICE Actimize’s cloud-based market data delivery infrastructure.

Where next?

With new products, services and technologies emerging all the time, firms can be optimistic about the growing opportunities that the cloud can offer for managing market data. One particularly interesting development worth watching is the rise of Low Code Application Platforms (LCAPs), such as that offered by Genesis, which provides a cloud-based microservices framework that can be used for rapidly developing and delivering applications around real-time market data. One example is on-demand margining. “A prime broker can link to all of its customers and know exactly what their risk positions are based on real-time market data, so within minutes, they can be sending out margin calls”, says Felipe Oliviera, Head of Sales and Marketing at Genesis.

Industry behemoths such as Refinitiv, SIX and FactSet are also embracing the cloud. Refinitiv has now launched delivery of market data via AWS, is making its tick history data available on Google Cloud and has also recently announced a partnership with Microsoft Azure. FactSet has launched a cloud-based ticker plant on Amazon EC2. And SIX is partnering with Xignite for real-time market data delivery via the cloud. Bloomberg is also partnering with AWS to make its B-Pipe data feed available through the cloud. And the main cloud vendors themselves – Amazon, Google and Microsoft – have established dedicated teams to develop these markets

In conclusion, it’s clear that there are a number of challenges that firms still face when transitioning any part of their market data infrastructure to the cloud. (To register for A-Team’s free webinar on the topic, click here.) And in many cases, particularly where ultra-low latency is required, cloud is not the answer. But equally, by migrating certain elements of their market data infrastructure to the cloud, cost savings can be achieved, efficiencies can be gained and firms can potentially do more with less.

10/21/2020

Xignite, Inc., a provider of market data distribution and management solutions for financial services and technology companies, today announced it won the Best Real-Time Market Data Initiative at the Inside Market Data & Inside Reference Data Awards.

A longtime leader in the market data cloud space, Xignite provides financial data through its innovative cloud APIs, which are developer-friendly, reliable and endlessly scalable. Xignite data is normalized and ready-to-use, eliminating common pain points with legacy providers, while maintaining global coverage and institutional quality.

This award recognized Xignite’s work with SoFi, a leading digital personal finance company. In 2019, SoFi launched SoFi Invest, a free consumer investing service, and enlisted Xignite to power the entire platform, from its robo-advisor capabilities, to financial newsfeed, to real-time market alerts and curated stock list. SoFi has identified a number of ways in which these key features are driving member engagement – for example, 10% of users who receive a market alert make a trade within an hour. For more details on this collaboration, download the case study HERE.

“We are honored to be recognized for Best Real-Time Market Data Initiative. Xignite was the first to bring market data to the cloud, and we have continued to innovate and point the way to the future of this unique subset of the industry,” said Stephane Dubois, CEO and Founder of Xignite. “The SoFi collaboration is a great example of how a firm can leverage our diverse range of APIs to build an all-encompassing platform and scale it rapidly. As we look to the future, we will continue to serve our clients through transformative offerings, including our suite of Xiginite Enterprise Microservices, which we announced in July.”

The Inside Market Data & Inside Reference Data Awards are held by WatersTechnology and recognize industry excellence within market data, reference data and enterprise data management. The award ceremony took place during the publication’s Innovation Exchange held virtually from September 9 to September 22.

This is the latest honor in what has been a fruitful year for Xignite on the awards circuit. In the spring, the firm was named an SIIA CODiE Awards finalist and included on the WealthTech 100 list.

About Xignite
Xignite has been disrupting the financial and market data industry from its Silicon Valley headquarters since 2006 when it introduced the first commercial REST API. Since then, Xignite has been continually refining its technology to help fintech and financial institutions get the most value from their data. Today, more than 700 clients access over 500 cloud-native APIs and leverage a suite of specialized microservices to build efficient and cost-effective enterprise data management solutions. Visit http://www.xignite.com or follow on Twitter @xignite

About the Inside Market Data and Inside Reference Data Awards
The annual Inside Market Data and Inside Reference Data Awards, now in their 17th year, play a key role in WatersTechnology’s awards program, and are the only awards that feature a mix of call-for-entry categories determined by a panel of judges and categories compiled by WatersTechnology’s journalists and voted on by the brand’s readership. This year’s awards featured 32 categories in total: 21 call-for-entry categories, 10 journalist-compiled categories, and a hall of fame (lifetime achievement) award.

09/23/2020

Over time, the market has come to embrace cloud in more and more aspects of trading technology. Processing large sets of data and calculation of computationally intense formulas (or both) are common uses of cloud. While the market may not be quite ready to move every part of the trading cycle to the cloud, market data is becoming more and more mainstream. 

Market Data + Cloud Solutions

In fact, somewhat ironically, market data is very fertile “ground” for cloud offerings. Not only are third-party cloud providers continuing to enhance their market data offerings (i.e., Bloomberg,[1] Refinitiv,[2] Xignite[3]), but exchanges are also offering access to data directly via their own cloud services or innovation partners (e.g., CBOE,[4] IEX,[5] Nasdaq[6]). In a post-COVID-19 world, cloud has only become more entrenched in the trading lifecycle across both buy-side and sell-side firms. Even looking back to views from 2019, the growing importance of cloud servicing market data needs is clear.

In fact, almost three-quarters of respondents in our 2019 Market Data Study[7] identified innovation in market data as highly important, with cloud seen as the second most impactful innovation (trailing only slightly behind artificial intelligence). 


Read entire blog post by Shane Swanson, Senior Analyst, Market Structure and Technology at Greenwich Associates.

09/22/2020

Xignite, Inc., a provider of market data distribution and management solutions for financial services and technology companies, announced today that it recently enhanced its Bond Master API. Xignite offers several APIs that provide real-time, delayed, historical fixed income pricing and reference data for corporate and agency debt bonds. The Bond Master API enhancement increases the coverage from the United States to 190+ countries, adds additional bond types to support more than 2 million active bond issues, and increases the ease of use of the API with several new endpoints.

Unlike legacy fixed-income data solutions, Xignite’s Bond Master API is cloud-native and offers a robust selection of use-case-based endpoints. Developers can easily integrate these endpoints into their product or app, regardless of type, amount, or frequency of data, without the need for any complex integration logic. Unlike file-based data delivery solutions, the Bond Master API makes on-demand integration into downstream security master or compliance systems frictionless.

Additional detail on the enhanced Bond Master endpoints:

  • The List endpoint for bond type, issuer type, and domicile enables clients to slice and dice the bond universe differently based on use-case.
  • The ScreenBonds endpoint enables clients to dynamically and easily screen the bond universe by combining criteria based on the coupon rate, maturity date, callability, and issue convertibility.
  • The ListBondDataPoints and GetBondDataPoints endpoints enable clients to more easily pick and choose the reference data points they need to integrate into their systems.
  • The GetBondDataPoints endpoint enables access to additional reference data points without requiring changes to an existing implementation.

“Because much of the benefits of a reference data service derives from its breadth, depth and quality of coverage, these enhancements give you the added peace of mind that comes from knowing your holdings are validated against a complete universe,” said Vijay Choudhary, Vice President, Product Management, Market Data Solutions at Xignite. “These enhancements eliminate the need to maintain an on-site bond security master, which ultimately saves our clients time and eliminates significant unnecessary expenses.”

Additional bond issuer types now include: Government Agency, Government Controlled Company, State Government, Supranational

Additional new bond types now include: Bankers Acceptance, Capital Securities, Cash Management Bill, Certificate, Certificate of Deposit, Commercial Paper, Covered Bond, Debenture, Depository Receipt, Discount Notes, Loan Note, Loan Stock, Medium Term Notes, Note, Permanent Interest Bearing Shares, Preferential Security, Preferred Security, Reference Bills, Structured Product, Strip Package, Treasury Bill

Additional reference data points are also now available for all bond types:

  • Issue instrument identifiers (CUSIP, ISIN, Symbol, etc.)
  • Bond Issuer details including issuer name, domicile, unique company identifier, issuer status, industry and sector
  • Bond Issue details including maturity, coupon, coupon type, par value, dated date, distribution and amortization details, day count convention, original issue details, liquidation right, callable, convertible, guarantor, redemption, and other issue details

This is just the latest example of Xignite’s ability to innovate. Earlier this year, the firm unveiled its suite of market data management microservices and also received a patent for its market alerts technology.

About Xignite

Xignite has been disrupting the financial and market data industry from its Silicon Valley headquarters since 2006 when it introduced the first commercial REST API. Since then, Xignite has been continually refining its technology to help fintech and financial institutions get the most value from their data. Today, more than 700 clients access over 500 cloud-native APIs and leverage a suite of specialized microservices to build efficient and cost-effective enterprise data management solutions. Visit http://www.xignite.com or follow on Twitter @xignite

09/16/2020