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Entrepreneurs Get Head Start from Xignite Financial Web Services

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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

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Xignite, Inc., a provider of market data distribution and management solutions for financial services and technology companies, today revealed the results of its collaboration with StockCharts, a leading technical analysis and financial charting platform for online retail investors. The collaboration involved a move from an on-premise market data provider to Xignite’s cloud-native technology hosted in Amazon Web Services (AWS). Download the case study containing the full results.

StockCharts requires vast quantities of financial data to power its visualization, charting and tracking tools, which investors use to analyze the markets to help with investment decisions. The company was frustrated by the limits of its on-premise market data center, which was forcing the team to make architectural decisions based on what its data center could handle in terms of speed and storage, not on their technology. Its previous market data provider was just starting to build out some cloud offerings, but they were far away from what the business required. StockCharts decided to migrate its infrastructure to the AWS cloud and partner with Xignite to gain access to endlessly scalable market and financial data delivered through innovative cloud APIs.

The collaboration made an immediate impact as StockCharts was able to expand its offerings and customer base by pursuing growth strategies enabled by Xignite’s cloud-based approach, which provides easy access to data and eliminates architectural limits on storage and speed.

The pandemic provided further validation. Seattle-based StockCharts was in one of the first areas hit by COVID-19 and was forced to quickly shut down its office. Pandemic-driven market volatility followed and StockCharts customers wanted to visualize what was happening. The company’s ability to scale quickly and accommodate a high volume of new requests would not have been possible without Xignite.

“The move to the AWS cloud and Xignite has unlocked tremendous new potential for us in a lot of architectural ways, and has given us a lot of data options that we could not even consider before,” said Grayson Roze, Vice President of Operations at StockCharts. “It relieved us of the burden of figuring out how to source things. Instead, we know exactly where we need to go to get the data and can access it instantly. That is a huge, huge benefit for our business.”

“We are proud to have played a role in transforming how StockCharts approaches data,” said Stephane Dubois, CEO and Founder of Xignite. “The events of this year unleashed a massive spike in retail trading and a host of other unexpected forces that reinforced the need for financial services firms to leverage the cloud. Despite the disruption of this year, StockCharts was positioned for success, and we look forward to continuing to deliver our financial and market data solutions to the industry at large.”

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

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