The Now, The Cloud and the Crowd: What is Shaking Wall Street to Its Core? Part 1


Bobs Guide cloud wall streetThere is a fintech revolution going down and it is not happening quietly. JP Morgan’s own colorfully outspoken Jamie Dimon said recently that “Silicon Valley was coming” and intending to eat Wall Street’s lunch. And he did not make it up since inventor-of-the-web-and-great-financier-of-the-unicorns Marc Andreessen himself claimed late last year talking about the bloated financial industry that he and his army of exit-starved entrepreneurs could “re-invent the entire thing.” Indeed, while ICE may choose to turn the floor of the NYSE into a night-club and seal the deal on Wall Street becoming nothing but a residential neighborhood, the cool bearded twenty-somethings haunting the digs of startups like Betterment in Chelsea, Motif Investing in San Mateo, Derivitec in Level39, eToro in Tel-Aviv, or 8 Securities in Singapore are working 100+ hour weeks to revolutionise financial services.

Never before in the history of the respective eastern and western centers of finance and technology has the war been so drawn out and heated; and Silicon Valley may be winning. The number of defections from Wall Street to fintech startups is reaching an all-time high along while the amount of capital raised by these new ventures around the globe is reaching gargantuan proportions. It is now almost impossible to find a venture investor who is not “specialised in fintech” (while no-one would dare touch the sector back in the fall of 2008. Trust me, I tried). Move over social, SaaS and messaging; fintech is now king of the mountain.

While the ambiance might be a bit on the frothy side, there is a reason to the madness. A new body of technology has become mature enough to challenge the assumptions on which Wall Street has been built for the last 100+ years and is shaking it to its core. While Wall Street was busy dealing with the aftermath of the mortgage crisis, an evolution has occurred and the people have changed while the industry has not. To be fair, maybe we should blame the governments around the globe for stifling Wall Street’s potential. The industry has been burdened with regulation upon regulation, creating a very expensive distraction and leaving no time or resources to innovate. The industry has now exposed its flanks to the armies of razor-sharp private-equity-fed startups that are unbundling its businesses into pieces and throwing billions of dollars of enthusiasm and technology at each sliver of opportunity – a death by a thousand cuts.

At the core, what are the main themes that are enabling this revolution? I see: the Now, the Cloud, and the Crowd. Taken together, these three themes illustrate how fintech startups are taking on Wall Street at its most vulnerable spots: The slow pace of its transactions, the convoluted legacy infrastructures that keep Wall Street on the ground and out of the cloud, and its continued dependence on closed hierarchies that shut out the wisdom of the crowd.

The fintech stars of the moment are striking hard at fast at one or all of these pressure points, and the evidence suggests they are giving the people exactly what they want. How are they doing it? Stay tuned for my next installment for a closer look at the art and science of fintech disruption. 

Source: Bobs Guide


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.

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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 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