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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

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