Xignite Is Raising Money to Take Over Financial Data


Bank Innovation Xignite Financial Data

Xignite is raising a round of funding that the company expects to close within the next few weeks, Bank Innovation has learned.

Xignite’s CEO Stephane Dubois calls his company a “one-stop shop to power any financial service.” Dubois is fundraising the round — the company’s first since 2011, according to Crunchbase — to take over the distribution of financial market data.

Xignite, one of the companies leading the development of a fintech intermediary ecosystem, has $16.4 million in total funding to date, according to Crunchbase. While Dubois did not offer additional specifics into the current round, Bank Innovation expects Xignite to do a substantial raise.

The company started back in 2003 when no one knew what an API was. (Until recently, Dubois told Bank Innovation, “we said web services.”) Xignite pulls market data from the exchanges and companies such as Thomson Reuters and Bloomberg, but unlike those services, according to Dubois, it packages the data attractively and helps customers put it to work through its APIs. Demand for the service was slow until 2013, when APIs started taking off among FinTech startups, and Xignite was there to help.

More recently, and perhaps more importantly in the long term, the banks began to call. Banks have warmed to the cloud in the past year, to the benefit of companies such as nCino and Mambu — and of course Xignite. “A bank might spend $250,000 with us now — and we will expand that — but they will save millions of dollars by holding Bloomberg data,” Dubois said. Calls to Bloomberg’s terminals cost money every time, but Xignite’s pricing is subscription-based. So if Xignite is holding Bloomberg data, banks can avoid the terminals, which could mean significant cost savings.

There is more at stake than just cost savings, however. Xignite data may be disrupting FinTech startups by leveling the playing field for banks, helping them quickly and inexpensively build applications the way startups do. “Data in the cloud makes projects go faster,” Dubois said. “And banks can build cheaply just like startups.”

The market data feed business is a $25 billion market, Dubois said, with $15 billion of that in terminals. But the terminal business, he said, is flat and will shrink, while the cloud will continue to grow.

“In this business, everybody sells data to everybody,” Dubois said. “Nobody has everything. When we started, we had to build our data set cost-effectively by asking second-tier providers to please sell us the data. Now the tables have turned and the top players say, ‘Take it!'”

Xignite offers 1,000 different kinds of API calls and has 45 clients. The company is seeing its fastest growth outside the U.S., particularly in Asia, Dubois said. “We have the largest data set but we can do more,” he said. “In depth and breadth, and the analytics on top of it.”

Source: Bank Innovation


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