World's First Computational Knowledge Engine Utilizes On-Demand Financial Market Data from Xignite to Accelerate Development and Reduce Costs
San Mateo, CA — August 17, 2009 — Xignite, Inc., the leading cloud services provider of on-demand global financial market data and application components, today announced it is working with Wolfram|Alpha, the world's first computational knowledge engine. Under the agreement, Wolfram|Alpha has integrated Xignite Web services to provide powerful on-demand financial market data calculations for its users. Xignite Web services enabled Wolfram|Alpha to meet a tight development schedule and minimize infrastructure costs prior to its May 2009 launch.
Wolfram|Alpha generates powerful systematic results through real-time computations on its ever-growing internal knowledge base. Wolfram|Alpha's knowledge base and capabilities already span many domains and its underlying framework has the power and flexibility to support any domain that is based on systematic knowledge. The information Xignite delivers in response to the search is aggregated and analyzed by Wolfram|Alpha before it is returned to the user in the form of comprehensive charts and graphs for comparative study. By integrating Xignite Web services, Wolfram|Alpha can provide in-depth financial information for queries as simple as "biggest automotive company," or as complex as "what is General Electric's dividend per share in euros." The integration also enables Wolfram|Alpha to return results in locally-adjusted currencies, based on real-time rates and location awareness.
Wolfram|Alpha is currently using Xignite Web services that includes real-time and historical stock prices, market indices, interest rates, currency exchange rates, commodity prices, and various economic statistics to power the majority of the market, financial and company information delivered in its search results. With Xignite, Wolfram|Alpha met its tight launch schedule by eliminating multiple years of development effort and saving hundreds of thousands of dollars in extensive in-house market data infrastructure costs. Xignite is the industry's leading provider of highly-scalable Web services that deliver a variety of on-demand financial market data, including stock prices, commodity futures and currency exchange rates.
"Wolfram|Alpha's goal is to be the single source for definitive answers to factual queries, and we rely on acquiring and processing data in a vast number of areas," said Peter Overmann, executive director of research and development at Wolfram Research, Inc. "In a climate where there's tremendous demand for financial tools and information, we've set out to create the best possible financial portal where all analyses and visualizations are calculated in real time, as users put in their questions. Xignite has met all of our expectations in terms of the scope, quality, and performance of its data services, and we look forward to working with the company as we expand Wolfram|Alpha."
"Traditional approaches to searching for financial information return incomplete and stale data, but the Wolfram|Alpha computable knowledge engine provides rich and meaningful results by integrating Xignite," said Stephane Dubois, CEO, Xignite. "Wolfram|Alpha is offering superior value to their users and Xignite is proud to support their mission by reducing the cost and complexity of integrating financial information with our Web services."
Xignite provides an extensive catalog of more than 50 categories of financial information delivered on-demand as industry standard Web services. There is no upfront risk or infrastructure investment in hardware, software, vendor tools or custom coding. Additionally, there are no ongoing requirements of system administration and maintenance.
Xignite is the leading cloud computing provider of on-demand, Web services for professional-grade financial market data and applications, fulfilling more than one billion service requests per month. Xignite offers the broadest selection of financial Web services available today with more than 50 solutions covering domestic and global equities, commodities, currencies, fixed income and interbank interest rates, analyst predictions, company fundamentals, corporate information and news. Xignite solutions power mission-critical applications for portfolio management, sales management, trading, investor relations, executive dashboards, asset pricing, ERP, accounting, e-commerce, online games and financial websites for more than 550 global clients, including Citi, GE Commercial Finance, Wells Fargo, ING, Marsh & McLennan, Forbes.com, NetSuite, kaChing.com, Starbucks, and Wendy's. For more information, please visit www.xignite.com or call 1-866-XML-SOAP.
About Wolfram Alpha LLC
Wolfram Alpha LLC is a Wolfram Research company. Wolfram|Alpha's long-term goal is to make all systematic knowledge immediately computable and accessible to everyone. The company aims to collect and curate all objective data; implement every known model, method, and algorithm; and make it possible to compute whatever can be computed about anything. Wolfram|Alpha builds on the achievements of science, and other systematizations of knowledge, to provide a single source that can be relied on by everyone for definitive answers to factual queries. Wolfram|Alpha was created with Mathematica—itself the result of more than 20 years of development at Wolfram Research—and is being developed by a world-class team of experts led by Stephen Wolfram, a distinguished scientist, inventor, author, and business leader.
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