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Xignite Launches Industry's First Platform For On-Demand Market Data Distribution

Xignite

New Web Services Technology Lets Exchanges and Data Vendors Reach New Markets, Accelerate Product Launches and Increase Transparency

SIFMA Technology Management Conference and Exhibit, New York, NY—June 23, 2009 — Xignite, Inc., the leading cloud services provider of on-demand global financial market data and application components, today announced the release of XigniteOnDemand, the industry's first platform for private-labeled delivery of market data through on-demand web services, marking a major industry innovation in the way market data is distributed.

By taking advantage of XigniteOnDemand, exchanges, multilateral trading facilities, brokers and other data owners can quickly launch extensions to their own websites to start selling their market data as on-demand web services. With XigniteOnDemand, exchanges can capture greater market share and wider profit margins by selling market data web services directly to customers. Exchange customers will benefit from the time and cost savings on-demand web services deliver by eliminating the need for in-house data management.

With XigniteOnDemand, exchanges and data owners can easily launch their own private-labeled on-demand web services, eliminating the years of development time it would take to build the same technology internally. Benefits of XigniteOnDemand include:

  • Private-Label Branding

    Exchanges leverage their brand recognition and further build their brands using XigniteOnDemand. Customers see value in going to the original source for their market data. XigniteOnDemand provides a private-labeled website for exchanges to leverage their brand recognition and credibility when selling directly to customers. Exchanges also benefit from greater brand exposure by selling their market data further downstream to a larger segment of customers.

  • Reach New Markets

    On-demand data delivery lets exchanges offer "pay-for-use" pricing. Previously, potential customers for market data were confined to large organizations with the budget and appetite for significant infrastructure spend. With XigniteOnDemand, exchanges can sell data to the largely untapped market of organizations who want to purchase only the data they need to use when they need it.

  • Reduce Time to Market

    Exchanges can now offer new market data products to their customers in weeks instead of months with a direct, on-demand offering rather than waiting for distributors to integrate the new data into their own products. Direct on-demand distribution also lowers the barriers to adoption and increases profit margins.

  • Increase Transparency

    XigniteOnDemand makes data widely and easily available in minutes at a time when regulators, professionals and investors are demanding increased transparency in the financial sector. The complexity and costs of legacy distribution platforms hinder the ability of exchanges to provide this level of instant visibility.

Customers of exchanges and data owners using XigniteOnDemand also benefit significantly from reduced time, cost, and complexity when powering their applications with live market data. Unlike traditional means of delivery, such as flats files and data feeds, web services created with XigniteOnDemand provide market data that is application-ready, requiring no additional data management. Organizations using on-demand web services can build their applications to retrieve exactly the market data they need at the moment when they need it without housing large volumes of data internally. Customers of on-demand web services forgo the time and expense of building and maintaining the databases, servers, networking equipment and other hardware and software infrastructure needed to manage market data internally.

"XigniteOnDemand represents a milestone in our efforts to change the way market data is delivered and consumed," said Stephane Dubois, CEO, Xignite. "For years, Xignite customers have benefited from the time and cost savings of our on-demand web services-based data delivery model. Now, exchanges and other market players can leverage the XigniteOnDemand platform to offer the same flexibility and benefits to their customers."

XigniteOnDemand is a complete, end-to-end solution for selling market data as web services. First, an exchange's market data is converted into a web service using XigniteOnDemand's secure, high-performance technology platform that offers the scalability and reliability of cloud computing. Next, a private-labeled website is developed as an extension to the exchange's own website using the exchange's own branding to promote and sell the new web service offerings. Special features optimize website traffic from major search engines and automatically process e-commerce sales orders. Then, XigniteOnDemand provides back-office management for easy handling of customer support and billing. Finally, XigniteOnDemand includes community management features to build a growing community of customers and new prospects.

Pricing and Availability

XigniteOnDemand is available now. Pricing is customized according to customer requirements.

About Xignite

Xignite is the leading cloud services provider of on-demand, global financial market data and application components. The Xignite financial Web Services and mash-up platform helps companies build smarter websites and software applications in minutes with zero investment and cost-effective, subscription pricing. Xignite offers over 50 solutions covering domestic and global equities, commodities, currencies, fixed income and interest rates, company fundamentals, corporate information and more. Xignite solutions power mission-critical applications and financial Web sites for more than 400 global clients, including Forbes.com, kaChing.com, NetSuite, Citi, GE Commercial Finance, ING, Starbucks, Wells Fargo and Wendy's. For more information, visit www.xignite.com or call 1-866-XML-SOAP.

For further press information regarding Xignite please contact:

Annie Klein

Schwartz Communications

Telp: (415) 512-0770

Email: xignite@schwartz-pr.com

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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