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Entrepreneurs Get Head Start from Xignite Financial Web Services

Xignite

Internet Start-Ups Palantir Technologies, Turing Studios and StockTwits Leverage On-Demand Financial Market Data from Xignite to Accelerate Time to Market and Reduce Investment Risk
San Mateo, CA — November 9, 2009 — Xignite, Inc., the leading cloud services provider of on-demand financial market data and application components today announced its work with emerging financial information companies Palantir Technologies, an analytics platform provider, Turing Studios, an iPhone application developer, and StockTwits, a social stock micro-blogging community. These companies represent a new wave of start-ups that are integrating existing application components from Xignite Web services in unique ways to bring solutions to market at a fraction of the time and total cost of ownership of their predecessors. Traditionally, start-up companies that needed financial market data to build their applications were forced to waste valuable time and resources to obtain data and expend high up-front investment costs that had to be recouped quickly through advertising and end user revenue. Now, entrepreneurs can leverage on-demand market data from Xignite that is affordable, immediately available and scalable for any size Web business. Xignite's financial Web services provide these companies with the tools to create new service offerings using only a few lines of code, freeing entrepreneurs to focus their energy and creativity on bringing new ideas to market. "Next-generation financial applications are unable to cope with legacy technology, but Xignite helps these companies get to market in a fraction of the time, while limiting their up-front investment risk," said Stephane Dubois, CEO, Xignite. "Many start-up founders tell us they could not exist without Xignite financial Web services, yet with our assistance they are paving the way for the rest of the industry to inevitably follow them." Palantir Technologies' Palantir Finance product is an enterprise platform built to enable banks and hedge funds to integrate and analyze all their disparate commercial and proprietary data sources. The platform, which encompasses the entire analysis stack, was built with a focus on security, scalability, ease of use and collaboration, and is a core component of any organization's intelligence infrastructure. Specifically, Palantir Finance is using Xignite's historical stock quote Web service for its ease of integration and license terms that permit publishing data to the Web, which enables them to publically demonstrate their platform through a public instance called JoyRide. Turing Studios is the developer of multiple iPhone applications, including PortfolioLive, a portfolio management application that tracks stock prices, values, option and futures. PortfolioLive utilizes market data from the Web, but user demand for real-time market data led the company to create a real-time offering using Xignite's BATS Last Sale Web service, which will be available in December 2009. The Web service funnels real-time stock quotes from the up and coming BATS Exchange directly into the iPhone application, enabling Turing Studios to save money on development and server infrastructure costs, while providing better information to their users interested in real-time stock market data. "Xignite is flexible and worked closely with us to find a solution that best fit our needs," said Andy Sharp, senior systems architect, Turing Studios. "We could never supply our customers with the data they need at a price they can digest without Xignite." StockTwits is an open, community-powered information service for investments. Users can eavesdrop on traders and investors or contribute to the conversation and build their reputation as savvy market wizards. To serve its user base of 94,000 traders and investors, research analysts, financial enthusiasts and institutional representatives, StockTwits has been working to expand their financial data capabilities by offering on-demand ticker price queries. With the help of the Xignite NASDAQ last sale and security master Web services, StockTwits can efficiently pull on-demand information without having to sift through useless data. "With Xignite, we are able to access the exact financial data we want, without paying for data we don't need," said Howard Lindzon, co-founder, StockTwits. "The foreign exchange data used in our application enables StockTwits to be more successful by supporting our lightweight approach of delivering vertical value to a horizontal community, where both constituencies share a common passion: the desire to consume and share real-time information." For the latest updates from Xignite, please read our blog at blog.xignite.com or follow us on Twitter at www.twitter.com/xignite. About Xignite Xignite is the leading cloud computing provider of on-demand, Web services for professional-grade financial market data and applications, fulfilling more than one billion service requests per month. Xignite offers the broadest selection of financial Web services available today with more than 50 solutions covering domestic and global equities, commodities, currencies, fixed income and interbank interest rates, analyst predictions, company fundamentals, corporate information and news. Xignite solutions power mission-critical applications for portfolio management, sales management, trading, investor relations, executive dashboards, asset pricing, ERP, accounting, e-commerce, online games and financial websites for more than 600 global clients, including Citi, GE Commercial Finance, Wells Fargo, ING, Marsh & McLennan, Forbes.com, NetSuite, kaChing.com, Wolfram|Alpha, Seeking Alpha, Starbucks, and Wendy's. For more information, please visit www.xignite.com or call 1-866-XML-SOAP. For further press information regarding Xignite, please contact: Annie Klein Schwartz Communications Telp: (415) 512-0770 Email: xignite@schwartz-pr.com

RECENT NEWS

Xignite, Inc., a provider of market data distribution and management solutions for financial services and technology companies, announced today it has enhanced the data coverage for its’ interbanks and interest rates APIs in preparation for the required transition from the London Interbank Offered Rate (LIBOR) benchmark interest rate at the end of 2021.

Used in financial products such as adjustable-rate mortgages, consumer loans, credit cards and derivatives, LIBOR has been the world's most widely used benchmark for short-term rates. But after the 2008 financial crisis the U.S. Federal Reserve recommended a new benchmark interest rate to replace the outdated and problematic LIBOR. In the U.S market the new benchmark is Secured Overnight Funding Rate (SOFR), which is based on transactions in the U.S. Treasury repurchase, or repo, market, where banks and investors borrow or lend Treasuries overnight. Other countries are introducing their own local-currency-denominated alternative reference rates for short-term lending.

Xignite banking, and Fintech customers that build apps for capital markets, investment management, financing, and foreign currency exchange purposes, require interbank and interest rates data to manage exchange and interest rate risk. Xignite enhanced its Interbanks and Rates APIs with SOFR earlier this year and has now added four of the alternative overnight risk-free rates (RFRs) recommended to replace LIBOR for currencies in respective markets. The new rates include Euro Short-Term Rate (ESTR), Swiss Reference Rates (SARON), Sterling Overnight Index Average (SONIA), and Tokyo Overnight Average Rate (TONAR). These additional rates are available now at no additional cost to customers.

“Our rates and InterBanks APIs were the first REST APIs ever released to serve the needs of the lending and banking industries. They uniquely aggregate rates that are used by dozens of firms globally in critical business processes,” said Vijay Choudhary, Vice President of Product Management for Xignite “Given the major shift the industry is experiencing regarding reference rates, it was critical for us to support those new rates to give our clients the data they need to run their businesses,” added Choudhary.

Xignite’s Interbanks API offers real-time and historical interbank and deposit rates for currencies in 40 countries. Xignite’s Interest Rates API provides interest rate data for over 600 global treasury, money market and private capital market instruments and benchmarks. The new alternative T+1 (24hr+ delayed) rates include:

  •         Europe: Euro Short-Term Rate (ESTR) is an interest rate benchmark that reflects the overnight borrowing costs of banks within the eurozone. The rate is calculated and published by the European Central Bank.
  •         Switzerland: Swiss Reference Rates (SARON) represents the overnight interest rate of the secured money market for Swiss francs (CHF). The rate is calculated and published by SIX.
  •         United Kingdom: Sterling Overnight Index Average (SONIA) is the effective overnight interest rate paid by banks for unsecured transactions in the British sterling.
  •         Japan: Tokyo Overnight Average Rate (TONAR) is an unsecured interbank overnight interest rate and reference rate for the Japanese yen. The rate is calculated and published by the Bank of Japan.

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.

06/09/2021

Xignite, Inc., a provider of cloud-based market data distribution and management solutions for financial services and technology companies, today introduced XigniteGlobalCorporateActions, a new advanced API providing detailed corporate actions data for events such as stock splits, dividends, mergers, and spinoffs. The COVID-19 pandemic has led to a dramatic increase in corporate actions, annual meetings canceled, dividend payouts suspensions, and an accelerated company mergers and acquisitions rate. Knowing when a company plans to offer a split or undertake an acquisition is critical for buy-side and sell-side firms.

Corporate action processing is one of the “last frontiers of pain” for investment management, and one of the most manual and complex parts of back-office operations. The lack of uniformity and standards makes it difficult to identify and interpret information correctly. Obtaining accurate and timely information is challenging, and errors can result in painful financial losses. The XigniteGlobalCorporateActions is the first cloud-based REST API to eliminate the pains and complexity caused by legacy data feed and files. The API provides a single-source data stream with consistent information gathered from more than 190 exchanges and over 30,000 U.S. mutual funds.

The recent split of TSLA and AAPL stock on the same day illustrates the complex and far-reaching impact of corporate actions. If a firm does not do this correctly, it will show on historical charts, and their customers will notice. Xignite’s Data Quality team cross-validates our corporate actions data across sources and proactively detects and fixes any missing information. This prevents missing issues such as the TSLA and AAPL splits.

“The industry is facing a ‘perfect storm’”, says Vijay Choudhary, Vice President of Product Management for Xignite. “On one hand you have a massive wave of corporate actions fueled by the pandemic and the rising markets, and on the other you have millions of new retail investors eyeballing their investment applications all day long. One bad corporate action can send your customer service department into a tailspin,” added Choudhary. Additional detail on the Corporate Actions API endpoints:

GetDistributions - Returns cash and stock dividends as declared by the company for a requested security and date range.

GetDistributionsByExchange - Returns cash and stock dividends as declared by the company for a requested exchange and date.

GetEventSummaries - Provides a high-level overview of events for a requested security and date range.

GetMergers - Returns merger events for a given identifier and date range.

GetSpinoffs - Returns spinoff events for a given identifier and date range.

GetSplits - Returns the stock split history for a security for a specified date range.

GetTakeovers - Returns takeover events for a given identifier and date range.

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 specialized microservices-delivered modules to build efficient and cost-effective enterprise data management solutions. Visit http://www.xignite.com or follow on Twitter @xignite

05/18/2021

In the foreign metal market and the world of international rates, currencies play the crucial role of acting as the medium of exchange in the transactions that take place.

Currencies like the United States dollar, the Euro, or the British Pound are commonly used around the world in order to get a metal rate. Some companies that offer precious metal live and historical rates have exposed their APIs (Application Programming Interfaces) to allow developers to integrate current and historical metal rates, currency conversion, or other capabilities into their applications.

In order to know about precious metals live and historical rates, there’s a lot of APIs available online, and if you want to try one, Barchart is going to be one of your first options. But if you take a look at what else is in the market, you’ll find alternatives so many great alternatives:

Xignite Market Data Cloud Platform

Xignite Market Data as a Service was one of the first market data services built to run in AWS and they are one of the few vendors that is an AWS Advanced Technology Partner with a Financial Services Competency.

With more than a decade of cloud expertise in building, scaling and operating cloud-based market data technology, it is no surprise that leading financial services and capital markets firms rely on this company to empower their journey to the cloud. Their Metals API Service offers real-time prices and quotes for metals including Gold, Silver, Palladium, Platinum and other base metals. In addition to real-time precious metals prices, the service provides daily London Fixing prices as well as historical precious metal prices and metal news. 

Xignite Cloud APIs are sourced from leading providers such as FactSet and Morningstar as well as Xignite’s own curated, high-quality data.

Read the article Top 3 Alternatives for Barchart Precious Metals Rates

02/25/2021