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Xignite Expands Reach of Commodities Exchange Web Service

Xignite

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.
About XigniteXignite (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.

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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.


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01/26/2021

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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01/25/2021

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

01/12/2021

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

01/06/2021