Financial cloud company Xignite on forefront of market data – LeapRate Interview with Stephane Dubois


Article by Mike Fox

LeapRateContinuing LeapRate’s Exclusive CEO Interview Series, today we bring to you Stephane DuboisCEO of financial cloud company Xignite, a San Francisco-headquartered provider of financial market data on-demand. Xignite’s financial Web service helps build smarter websites and applications in minutes. Last month, Xignite announced that its market cloud data platform is now available for lease.

The company already has major websites using its cloud services including Seeking Alpha, Investopedia and StockTwits. With data moving into the cloud, Xignite is on the forefront in bringing the latest market data information to its end clients.

So, what does Stephane think about the future of cloud for the well-known data providers in the sector such as Bloomberg and Thomson Reuters? Where does Xignite get its pricing data from? For the Forex industry, Xignite provides a one-of-a-kind exclusive FX rate API with official data direct from central banks around the world.

You can read about all of this and more in the Q and A below:

LeapRate: Hi Stephane, thanks for joining us today…Xignite’s forex rates API, who is this made for? Traders or just data providers?

Stephane: Our XigniteGlobalCurrencies solution is currently used by more than 400 firms globally.

The XigniteGlobalCurrencies API is designed for use by a wide range of business and applications.
This includes:

– Forex websites and trading platforms.
– Currency transfer and payment solutions.
– General investor websites and mobile sites.
– Enterprise accounting and e-commerce application.

LeapRate: Can your information be programmed to display live streaming quotes data for websites?

Stephane: Yes, the XigniteGlobalCurrencies API can be used to display live streaming quote data for websites.

Developers have two options when implementing the API.

They can use our REST CloudAPIs and repetitively poll it to refresh data on the website.

Or they can use our CloudStreaming API which lets them push data updates over a very simple HTPP protocol.

Our XigniteGlobalCurrencies APIs alone serves more than 15 Billion API requests per month.

LeapRate: Where does your Forex OTC data originate from?

Stephane: Our data originates from a variety of data providers including Morningstar and others.

Contributors to the data include the world’s largest banks and trading platforms providing accurate and liquid information around the clock.

Such contributors include Allied Irish Bank, Commerzbank, Den Norske Bank, European Central Bank, Nordea Bank, SAXO, UBS, Banca D’Italia, Banco de Espana, SA, Banco de Mexico, Bank of Canada, Bank of England, Banque de France, Deutsche Bundesbank, Federal Reserve Bank, South African Reserve Bank, Swiss National Bank, and others.

Note that the XigniteGlobalCurrencies solution includes a VERY unique feature: Official exchange rates from the world’s central banks such as Bank of Canada, Banco do Mexico, the European Central Bank, the Central Bank of Russia, the National Bank of Poland, Banca Nationala a Romaniel, Magyar Nemzeti Bank, Banco Centrale de Chile, Czech National Bank, the Reserve Bank of Australia and others.

LeapRate: It was just announced that companies can now license your Market Data Cloud platform, have you had any major sign ups yet to the service?

Stephane: Yes, we do. Although the name of our first licensee is not public yet, it is major market data provider in Asia who intends to use the solution to deliver next generation market data solutions to its markets and aggressively replace competitive legacy data solutions. We expect an announcement for this customer in the early part of 2017 and expect to sign up additional customers next year as well.

LeapRate: Do you believe providers such as Bloomberg and Thomson Reuters will move to the cloud?

Stephane: I believe that it is inevitable that Bloomberg and Thomson Reuters will move to the public cloud because its cost effectiveness and scalability are just too great to ignore. While Bloomberg and Thomson Reuters falsely claim that they have “always been cloud”, they operate data centres and networks with limited computing capacity and designed on highly proprietary technology. Amazon Web Services (AWS) on the other hand, operates a massive global compute cloud based on an open standard. For comparison, Thomson Reuters runs around 30,000-40,000 servers globally while AWS operated more than 2 million servers as far back as 2014. Amazon puts every day more computing power online that it needed to operate its total business when it had 7B in revenue.

The great challenge Bloomberg and Thomson Reuters will face when moving to the Cloud that they have tied billions of dollars in proprietary technology and infrastructure that locks people into using specific devices to access the data. Be them terminals, or routers, or on-premise software.

People have built careers and job security around those devices and complex technology. If they move to the cloud, suddenly their data is unlocked. It becomes commoditized and they cannibalize their business instantly. They have no incentive to do that.

LeapRate: What does cloud financial data mean for the trading industry in the next 5-10 years?

Stephane: We believe data should be only stored once. And we believe that the public cloud is where the world’s market data will be stored. Give it a few years. It’s where data will come from. It’s where analytics will be run openly, it is where most financial applications will run as well. This will turn the industry upside down. The costs that will be removed from the equation will be staggering. The amount of transformation that this will enable will also be huge. This will enable machines to invest for us on a large scale. And the ultimate beneficiary will be the customer, the trade, the investor. The banks will benefit massively in the process of course. The role we will play in this in it is simple. We will be the layer sitting between the public cloud where the market data will reside and all the devices, all the apps, all the consumers of the data, all the analytics that distributes, tracks, controls, and manages the distribution of this data to those happy users.

LeapRate: What are the most popular asset classes Xignite offers?

Stephane: Our most popular asset classes are by far Equities and Forex followed by funds, futures, options and credit data.

LeapRate: Websites such as Seeking Alpha, Investopedia, and Stocktwits, use your data, are they already getting data from the cloud?

Stephane: Yes, they all do. Firms like SeekingAlpha even take it a step further. They let us directly deliver data to their millions of customer’s devices—savings themselves the huge headache of building and operating a large data “fanout” infrastructure. Market data is just as much about data that it is about infrastructure. And that infrastructure is moving to the Cloud. Firms like SeekingAlpha, Investopedia and StockTwits are on the forefront of this revolution.

LeapRate: Any other product evolutions from Xignite coming down the pipeline for 2017?

Stephane: Over the 6-12 months, Xignite focus will be on:

  • Respond to global on-the-ground demand in Asia in EMEA by opening offices in Singapore and Hong Kong.
  • Continuing to expand our global data offering by adding new global exchanges and global fundamental datasets, in which we’re seeing great demand from clients.
  • Grow our value-added service offering provided on top of our data by launching new open cloud analytics services and vendor of record services.
  • Promoting the use of our platform globally as an enterprise platform for large financial institutions and global data providers.
  • Continue investing in the quality and accuracy of our data sources and the scalability of our platform.

Stephane Dubois is a recognized financial data industry executive who founded Xignite to pioneer market data in the cloud. Stephane Dubois is a well-known fintech thought leader and is frequently quoted in publications, including Forbes, MarketsMedia, WallStreet & Technology, Financial News, Bob’s Guide, Inside Reference Data, and Venture Capital Journal.

Prior to founding Xignite, Stephane was Vice President of Product Management at Advent Software, the leading provider of software solutions for the investment management industry. Prior to Advent, Stephane held senior product and marketing management positions at Walker Interactive Systems and Oracle Corporation. Stephane holds an MS in Management from M.I.T. Sloan School of Management and MS and BS degrees in international management from the MBA Institute in Paris.

Source: LeapRate


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


Each year, Bobsguide asks the market to vote for fintech companies they believe stand out from the competition – those who have gone the extra mile in terms of development and servicing their clients. Xignite is proud to be listed as the "Best API Management" vendor on the Bobsguide 2020 Rankings.

Read article on Bobsguide


Web services data provider Xignite captured the AFTAs judges’ attention on the infrastructure front with its release of Xignite Enterprise Microservices in July 2020, a suite of cloud-based microservices for data management, storage and distribution in the cloud, designed to help financial firms migrate from monolithic legacy data architectures to more agile and less expensive cloud services and data sources.

Requires subscription to read the article on WatersTechnology


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 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 or follow on Twitter @xignite