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The Companies Opening up their FinTech APIs [News]

Xignite

Jaxenter fintech market data cloudAttention all FinTech developers: there are a host of open FinTech APIs out there ready to be utilised in your next big project. We run down the list of APIs you should be adding to your virtual toolbox.

The FinTech startup scene is booming and it’s no surprise that a bevy of developers want to get in on the action. This boom has been recognised by a host of providers who have opened up their API stocks to allow for greater adoption and implementation. In the lead up to JAX Finance, we take a look at the providers giving the FinTech industry a whole lotta love.

Xignite
Xignite is a market data cloud solutions provider that offer FinTech APIs with real-time reference data across all asset classes. Xignite was an early pioneer for REST-based APIs for real-time, reference and historical financial market data, who currently boast more than 1,000 firms embedding its APIs in thousands of websites, mobile applications and enterprise software. The Xignite Market Data Cloud fulfills more than 25 billion requests per month.

Software Development Kits (SDKs)
The Xignite .NET and Java SDKs include all classes, enumerations and inline documentation for all Xignite APIs. There is no setup required and the SDKs include several useful features:

  • Simplified authentication
  • In-line access to API documentation via IntelliSense
  • Xignite API integration in three lines of code or less
  • Support for asynchronous calls via async
  • Configurable API token and time-out values provided by app.config

Free Stock Symbol TypeAhead API
In April 2014, free TypeAhead functionality was introduced that simplifies mobile and web applications development with auto-completion for currency and metal stock symbols. The API provides matching stock symbols and company names in a dropdown menu as user types characters in a field. The dropdown interactively refines the list as a user types additional characters, and supports multiple stock symbologies popular in the finance industry. Integrating Xignite’s TypeAhead feature with a mobile app or web site will only require a few lines of code.

MasterCard
Other than being one of the biggest global payments companies whose network processes more than 23 billion transactions a year, MasterCard offers a Developer Zone that includes their API Showcase: an open resource for FinTech developers to help build innovative applications.

Each API offered has the listed documentation required, as well as an FAQ list and supporting blog for most cases. The FinTech APIs are separated into categories spanning Payments, Security and Data Services to make it easy to navigate the showcase, as well as providing information about the companies currently implementing the APIs.

MoneySend™ API
The MasterCard MoneySend™ API allows the transfer of money between persons, businesses or governments, domestically and cross-border, through multiple access channels and via four MoneySend API services. The Transfer service is the core API used to transfer funds to a MasterCard card account. Card Eligibility, Card Mapping and Sanction Screening Service are processes that boost the transfer service by validating the card account and processing transactions using an alias, such as a user’s email or password, to provide privacy for the recipient and try to reduce the PCI burden for the developer.

MasterCard Location Services API
The Location Services API offers accurate data about local payment availability, with MasterCard’s App LaunchPad offering a complete sample of an app that merges ATM location data to a map for display on a mobile device. You are provided with sample code for HTML5, iOS and Android clients, each of which connect to an app server; the app server is configured to connect to the sandbox version of the MasterCard Locations API to display functionality.

Fidor Bank: fidorOS
Fidor combines a full banking license with its own technology and open banking APIs. fidorOS is designed to work with an existing core banking system and thanks to its modular design, is expandable beyond traditional banking services. The banking platform is a middleware that provides support for social trading and lending, virtual currencies and emergency loans without being tied to any legacy code. The platform is built on Ruby/Ruby on Rails, MySQL and is multi-language, multi-country, multi-currency and multi-CBS.

Fidor API Browser
To gain access to the FinTech APIs and create your first application, a developer must visit the Application Manager page, login with their banking credentials and accept the developer agreement. After that, developers can create as many applications as they like. In order to begin, Fidor Starter Kits have been created to allow for immediate API adoption. By creating an app in the Application Manager, you are connected with ready-to-go configured example apps. The following programming languages and frameworks are supported:

  • Ruby/Sinatra
  • PHP (plain)
  • Java/Servlet
  • Node.js
  • Go

The Starter Kits are available as a Ruby Gem on GitHub.

Are there any FinTech developers out there who want to share their knowledge and resources or add to this list? Let us know in the comments.

Source: Jaxenter.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