XigniteFutures Now Features Six Additional U.S. Exchanges via Partnerships
SAN MATEO, Calif. December 05, 2006--Xignite, the leading pure-play provider of financial web services for mission-critical corporate applications, today announced it has expanded its XigniteFutures on-demand web service with delayed quote and historical price information for commodity future contracts from seven additional U.S. commodities exchanges including the Chicago Mercantile Exchange (CME). Xignite completed agreements with each exchange to become a redistributor of its market data.In addition to CME, XigniteFutures now includes the Chicago Board of Trade (CBOT), the New York Commodities Exchange (COMEX), the New York Board of Trade (NYBOT), the Kansas City Board of Trade (KCBT), the Winnipeg Commodity Exchange (WCE), and the Minneapolis Grain Exchange (MGEX). The web service still features data from the New York Mercantile Exchange (NYMEX).
XigniteFutures is the only industrial-strength SOAP/XML web service available on the market offering this kind of information to corporate applications. The company's on-demand platform lets application developers source and integrate this data in minutes instead of researching, mining, and translating this external data themselves. With the additional exchange quotes, the service should have particular appeal for industries such as manufacturing, retail, and agriculture.
"We have been using the XigniteFutures service to collect NYMEX information for more than a year now," said Don Grage, Managing Director and COO of 9Ware, a Virginia-based IT development firm providing services to the petroleum industry. "We integrate energy prices into a monitoring and predictive modeling application we custom-built and operate on behalf of our client. It was very easy to integrate the Xignite web service into our application. We found nothing else like it on the market that could enable this type of straightforward data integration using the latest web technologies. It certainly contributed to an efficient and cost effective solution, and it has worked flawlessly ever since."
"Commodities markets employ millions of people and have become increasingly critical to the world economy," said Stephane Dubois, CEO of Xignite. "Live, up-to-the-minute access to commodities market information enables better day-to-day business and industry decisions to remain competitive – because financially aware employees simply work smarter. We enable customers to slice and dice this information, integrate easily into current business processes, and pay only for the data they need. Our completely open, self service distribution model includes everything a developer needs to deploy XigniteFutures in their corporate application of choice."
XigniteFutures provides live market information on raw materials such as oil and gas, precious and industrial metals, agricultural products as well as innovative derivative products affecting the financial stability of many businesses. COMEX is the leading U.S. exchange for metals futures and options trading. CBOT trades grain, gold, and Treasury Bond futures and options. Financial futures, foreign currency futures, commodity futures, and futures options are traded on CME.
According to Wall Street & Technology, growth in the global derivatives industry is accelerating and transforming, with new competitors emerging in exchange, over-the-counter and other unregulated markets. CBOT and CME, Chicago’s two main derivatives exchanges, recently unveiled a merger plan that will create the world's largest futures exchange, with a combined value of $25 billion. It is expected to increase momentum for consolidation in the financial exchange sector by creating platforms with increasingly global reach. The deal comes at a time when exchanges are going public and pursuing faster growing derivatives markets which are of interest to hedge funds that trade across multiple asset classes. NYMEX recently saw its market value double from its IPO price as recently as late November.
Xignite (pronounced "x-ignite") is the leading pure-play provider of financial web services for mission-critical corporate applications. As a pioneer in the field, Xignite offers the broadest integrated suite of financial web services available today on an on-demand platform, with more than 35 solutions covering market quotes, news, corporate data, industry information, analytics, tools and more. Xignite powers mission-critical applications for portfolio management, sales management, trading, investor relations, corporate portals, executive dashboards, analytical engines and more. Xignite serves more than 220 clients, including Ameriquest, GE Commercial Finance, Goodyear, ING, McDonald's, Marsh & McLennan, Starbucks, and Wendy’s. For more information, please visit www.Xignite.com