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kaChing Uses Xignite Web Services To Provide Investors With Real-Time Market Data

Xignite

Xignite Supports kaChing's Mission to Give Every Investor Access to the Returns, Insights, Transparency and Talent Previously Only Available to Wealthy Individuals

SAN MATEO, CA February 2nd, 2009 - Xignite, Inc., the leading cloud computing provider of on-demand Web services for professional-grade financial market data and applications, announced today that kaChing, the Web’s largest marketplace for investing talent, is using Xignite Web services to provide up-to-the-minute financial information to its users. With Xignite’s low-cost, easy-to-integrate financial Web services, kaChing can provide a realistic investment environment and give every investor — novice or expert — access to outstanding investment tools, insights and talent.

kaChing, an SEC Registered Investment Advisor, was founded to provide retail investors access to the investing returns, insights, transparency and talent once only available to wealthy individuals. kaChing believes that there are many individuals capable of generating outstanding risk adjusted returns who haven't yet earned the money necessary to invest. Therefore it allowed members to manage virtual stock portfolios in a realistic environment enabled by Xignite's Web services. This in turn allowed the company to attract over 360,000 managers of whom 1,500 created diversified portfolios that generated positive returns in 2008 as compared to only one mutual fund that generated positive returns over the same time period. kaChing's groundbreaking approach of registering with the SEC as an Investment Adviser allows the company to encourage members to follow or emulate each other.

Xignite is the only company that provides professional-grade market data, including real-time stock quotes, as an on-demand cloud service. By working with Xignite rather than traditional market data providers, kaChing saved hundreds of thousands of dollars and months of development time.

"Xignite was essential to build the authentic trading environment we envisioned for kaChing," said Dan Carroll, founder, kaChing. "With Xignite, we were able to obtain the financial data we needed at the right price and integrate it into our site in a matter of days. Xignite's cloud services have been instrumental for kaChing to reach its goal of attracting outstanding investing talent and a critical mass of users, and providing them all with access to fully transparent investing information."

kaChing is currently using seven Xignite Web services to power all of the market, financial and company information offered on the kaChing Web site. Of these seven, Xignite specifically built two services for kaChing including XigniteLimitOrders, a service that accurately emulates a broker's limit order capabilities. Additional Xignite services used by kaChing include:

  • XigniteNASDAQLastSale — Real-time NASDAQ Last Sale stock prices and trade data for US-listed stocks.
  • XigniteHistorical — Historical stock quotes (end-of-day closing prices) for U.S. equities beginning when the market opened.
  • XigniteFundamentals — Stock fundamentals for U.S-listed companies for performing equity research and analysis.
  • XigniteLogos — Company logos for every US-listed stock.

Xignite provides an extensive catalog of more than 50 categories of financial information delivered on-demand as industry standard Web services. There is no upfront risk or infrastructure investment in hardware, software, vendor tools or custom coding. And, there are no ongoing requirements of system administration and maintenance.

"At a time when the financial sector is under intense scrutiny, kaChing has taken an innovative step in opening up the investment industry," said Stephane Dubois, CEO, Xignite. "We fully support kaChing's mission and look forward to creating new Web services to support their future growth."

About kaChing

kaChing is the largest marketplace for investing talent on the web with over 360,000 portfolios under management. By uniquely applying an open source and social-networking strategy, kaChing offers every investor the opportunity to access the returns, insights, transparency and talent previously only available to wealthy individuals. The company's investors include Marc Andreessen, co-founder of Netscape; Kevin Compton, affiliated partner with Kleiner Perkins Caufield & Byers (KPCB); Bruce Dunlevie, general partner at Benchmark Capital; Ben Horowitz, former CEO of Opsware; Jeff Jordan, CEO of Open Table and formerly president of PayPal; Doug Mackenzie, affiliated partner with KPCB; founding partners Harris Barton and Ronnie Lott of HRJ Capital and Andy Rachleff, co-founder of Benchmark Capital. For more information, visit kaChing at http://www.kaChing.com or add the kaChing application on Facebook or MySpace.

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 400 global clients, including Citi, GE Commercial Finance, Wells Fargo, ING, Marsh & McLennan, Forbes.com, NetSuite, kaChing.com, 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

01/12/2021

Xignite, Inc., a provider of cloud-based market data distribution and management solutions for financial services and technology companies, today announced that its Market Data Management-as-a-Service solution has been named “Best New Technology Introduced over the last 12 months – Infrastructure” at the 2020 WatersTechnology American Financial Technology Awards (AFTAs). Selected by the editors of WatersTechnology, the AFTAs recognize excellence in the deployment and management of financial technology within the asset management and investment banking communities.

Xignite’s Market Data Management-as-a-Service (MDMaaS) solution enables buy- and sell-side firms to centralize the management of vendor data feeds into their own cloud environment. The solution is built around the cloud microservice-based architecture and technology stack Xignite has been refining and scaling for more than 10 years. Xignite’s technology platform has been the backbone of the company’s Data-as-a-Service business, daily supporting 12 billion API requests of financial data for their 700 fintech and financial services clients. Now Xignite is leveraging this battle-tested cloud-native data management architecture to offer buy- and sell-side firms a market data vendor agnostic offering, with connectors available for firms to load data they license from Bloomberg, Refinitiv, ICE and numerous other providers.

The MDMaaS solution includes a suite of loosely-coupled modules that enable market data user firms to control their data usage, automate entitlements, optimize their data spend and minimize liabilities by simplifying data governance and ensuring regulatory compliance.

The functionality is delivered via microservices, an architectural approach in which core functionality is handled by loosely coupled, independently deployable modules that can work together or separately. Microservices architecture stands in stark contrast with monolithic platforms that require expensive on-premise technology – that is especially hard to maintain in the context of a pandemic.

The MDMaaS microservice-delivered modules introduced in 2020 include:

Xignite Entitlements and Usage - Manage the entitlement of vendor data to users and applications to ensure compliance and eliminate excess spend.

Xignite Optimization - Streamline data consumption to avoid duplicated vendor requests, leverage cached bulk data and get recommendations to reduce data costs.

Xignite Data Lake - Centralize, catalog and connect data shapes to enable frictionless integration by consumers via unified cloud APIs.

Xignite Reference - Aggregate, normalize, store and index vendor reference data to centralize enterprise-wide access.

Xignite Historical - Provide centralized access to normalized, stitched and adjusted historical data via cloud APIs.

Xignite Real-Time - Distribute real-time vendor data via cloud APIs, eliminating on-premise infrastructure.

Xignite Fundamentals - Make simple and complex time-series data structures available via cloud APIs.

“Xignite has pioneered market data in the cloud for more than 10 years now, so we are very excited to announce – and be recognized for – our Market Data Management-as-a-Service solution,” said Stephane Dubois, CEO, and founder of Xignite. “The pandemic has reinforced the need for financial services firms to migrate to the cloud as a means of navigating disruption and enabling scalability, among other benefits. We are proud to spearhead that effort and help the industry modernize its approach to financial and market data.”

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 via its Data-as-a-Service and Market Data Management-as-a-Service solutions. 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

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