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The 2015 Tech 50: Racers to the Edge

Xignite

The global financial technology elite sets itself apart by understanding the strategic and societal implications of high-tech advances and pushing innovation at Silicon Valley–like speed.

Fintech Leader Institutional Investor

Grounded as it is in information and money — and information about money — financial services is, was and always will be a technology business. “Good information received in a timely fashion” defined sound banking, the late Citibank chairman Walter Wriston said more than 30 years ago.

But money, banking and capital markets have come a long way from what they were in Wriston’s time, or even a year ago, because technology is advancing so quickly and changing industry and society as it goes.

That is the day-to-day reality for the Tech 50, the visionaries and innovators on Institutional Investor’s annual ranking of financial technology leaders. What sets these executives apart goes beyond their considerable understanding of software applications and system performance as components of corporate strategy. These leaders think big about the global or macro implications of technology-­driven change — from cloud computing and machine learning to emerging sensations like the Apple Watch, cryptocurrencies and the Internet of Things. They relate such developments to their organizations’ and customers’ on-the-ground challenges and opportunities; set budget, investment and R&D priorities; and come up with solutions, to use the technological term of art.

And they put a premium on speed and agility. “It’s all about speed to innovate,” says Robert Alexander (No. 24), chief information officer of Capital One Financial Corp., which last year bought a leading user-­experience design company to accelerate web and mobile app development.

Intercontinental Exchange chairman and CEO Jeffrey Sprecher, repeating in the No. 1 position, brought his company from nowhere to the top of the global exchange world in part because, he says, “technology enabled us to scale quickly.” It also can fail. ICE’s three-and-a-half-hour outage on July 8 was only the latest to affect a major market platform — and demonstrate the importance of two other differentiating qualities: resiliency and recovery.

Catherine Bessant (No. 2), global technology and operations executive at Bank of America Corp., frets that the technology world at large is “moving at the speed of the consumer, not the speed of the enterprise.” The answer? “The best and brightest talent.” Bessant believes that “in conjunction with advanced-state thinking, financial services is magnetic for tech people.” But that means competing against Apple, Google and other name brands. For Bloomberg, one of the biggest and best-regarded development shops in finance, “ability to find talent is the only constraint” to hiring more technologists, says global head of R&D Vlad Kliatchko(No. 6). Citigroup chief innovation officer Deborah Hopkins (No. 8) calls the speed of change “exponential” and “almost violent,” and the necessary strategic response akin to a “lean start-up.” She views her organization’s “200 years of know-how” not as a liability but as something to be leveraged as new and “democratized” business models like the smart-phone economy and the blockchain present new opportunities.

The Tech 50 ranking was compiled by Institutional Investor editors and staff, with nominations and input from industry participants and experts. Four primary sets of attributes were evaluated: achievements and contributions over the course of a career; scope and complexity of responsibilities; influence and leadership inside and outside the organization; and pure technological innovation.

Of the 50 entries, 36 return from last year. The returnees’ 2014 ranks are shown, and the rest are designated “PNR” (previously not ranked).

The Tech 50 was compiled under the direction of Senior Contributing EditorJeffrey Kutler. Individual profiles were written by Kutler; Asia Bureau Chief Allen T. Cheng; Editorial Research Assistant Jess Delaney; Senior WritersFrances Denmark, Julie Segal and Aaron Timms; Associate Editor Kaitlin Ugolik; International Editor Tom Buerkle; and Editor Michael Peltz. •

1. Jeffrey Sprecher - Intercontinental Exchange

2. Catherine Bessant - Bank of America Corp.

3. Phupinder Gill - CME Group

4. Lance Uggla - Markit

5. Robert Goldstein - BlackRock

6. Shawn Edwards & Vlad Kliatchko - Bloomberg

7. R. Martin Chavez - Goldman Sachs Group

8. Deborah Hopkins - Citi Ventures

9. Stephen Neff - Fidelity Investments

10. Adena Friedman - Nasdaq OMX Group

11. David Craig - Thomson Reuters

12. Daniel Coleman - KCG Holdings

13. Michael Spencer - ICAP

14. Michael Bodson - Depository Trust & Clearing Corp.

15. Charles Li - Hong Kong Exchanges and Clearing

16. Chris Concannon - BATS Global Markets

17. Christopher Perretta - State Street Corp.

18. Antoine Shagoury - London Stock Exchange Group

19. Kevin Rhein - Wells Fargo & Co.

20. Neil Katz - D.E. Shaw & Co.

21. Lee Olesky - Tradeweb Markets

22. Richard Mcvey - MarketAxess Holdings

23. Seth Merrin - Liquidnet Holdings

24. Robert Alexander - Capital One Financial Corp.

25. Frank Bisignano - First Data Corp.

26. John Marcante - Vanguard Group

27. Joseph Squeri - Citadel

28. Lou Eccleston - TMX Group

29. Claude Honegger - Credit Suisse

30. Chris Corrado - MSCI

31. David Gledhill - DBS Bank

32. John Bates - Software Ag

33. Michael Cooper - BT Radianz

34. Gary Scholten - Principal Financial Group

35. Sunil Hirani - TrueEX Group

36. Hauke Stars - Deutsche Börse

37. Brian Conlon - First Derivatives

38. Jim Minnick - Evestment

39. Lars Seier Christensen & Kim Fournais - Saxo Bank

40. Tyler Kim - MaplesFS

41. Jim Mcguire - Charles Schwab Corp.

42. Steven O'hanlon - Numerix

43. Sebastián Ceria - Axioma

44. Yasuki Okai - NRI Holdings America

45. Stephane Dubois - Xignite

46. Mazy Dar - OpenFin

47. Brian Sentence - Xenomorph Software

48. Mas Nakachi - OpenGamma

49. John Lehner - BNY Mellon Technology Solutions Group

50. Jock Percy - Perseus

Source: Institutional Investor

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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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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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