News

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

RECENT NEWS

Xignite, Inc., a provider of market data distribution and management solutions for financial services and technology companies, announced today it has enhanced the data coverage for its’ interbanks and interest rates APIs in preparation for the required transition from the London Interbank Offered Rate (LIBOR) benchmark interest rate at the end of 2021.

Used in financial products such as adjustable-rate mortgages, consumer loans, credit cards and derivatives, LIBOR has been the world's most widely used benchmark for short-term rates. But after the 2008 financial crisis the U.S. Federal Reserve recommended a new benchmark interest rate to replace the outdated and problematic LIBOR. In the U.S market the new benchmark is Secured Overnight Funding Rate (SOFR), which is based on transactions in the U.S. Treasury repurchase, or repo, market, where banks and investors borrow or lend Treasuries overnight. Other countries are introducing their own local-currency-denominated alternative reference rates for short-term lending.

Xignite banking, and Fintech customers that build apps for capital markets, investment management, financing, and foreign currency exchange purposes, require interbank and interest rates data to manage exchange and interest rate risk. Xignite enhanced its Interbanks and Rates APIs with SOFR earlier this year and has now added four of the alternative overnight risk-free rates (RFRs) recommended to replace LIBOR for currencies in respective markets. The new rates include Euro Short-Term Rate (ESTR), Swiss Reference Rates (SARON), Sterling Overnight Index Average (SONIA), and Tokyo Overnight Average Rate (TONAR). These additional rates are available now at no additional cost to customers.

“Our rates and InterBanks APIs were the first REST APIs ever released to serve the needs of the lending and banking industries. They uniquely aggregate rates that are used by dozens of firms globally in critical business processes,” said Vijay Choudhary, Vice President of Product Management for Xignite “Given the major shift the industry is experiencing regarding reference rates, it was critical for us to support those new rates to give our clients the data they need to run their businesses,” added Choudhary.

Xignite’s Interbanks API offers real-time and historical interbank and deposit rates for currencies in 40 countries. Xignite’s Interest Rates API provides interest rate data for over 600 global treasury, money market and private capital market instruments and benchmarks. The new alternative T+1 (24hr+ delayed) rates include:

  •         Europe: Euro Short-Term Rate (ESTR) is an interest rate benchmark that reflects the overnight borrowing costs of banks within the eurozone. The rate is calculated and published by the European Central Bank.
  •         Switzerland: Swiss Reference Rates (SARON) represents the overnight interest rate of the secured money market for Swiss francs (CHF). The rate is calculated and published by SIX.
  •         United Kingdom: Sterling Overnight Index Average (SONIA) is the effective overnight interest rate paid by banks for unsecured transactions in the British sterling.
  •         Japan: Tokyo Overnight Average Rate (TONAR) is an unsecured interbank overnight interest rate and reference rate for the Japanese yen. The rate is calculated and published by the Bank of Japan.

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. 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.

06/09/2021

Xignite, Inc., a provider of cloud-based market data distribution and management solutions for financial services and technology companies, today introduced XigniteGlobalCorporateActions, a new advanced API providing detailed corporate actions data for events such as stock splits, dividends, mergers, and spinoffs. The COVID-19 pandemic has led to a dramatic increase in corporate actions, annual meetings canceled, dividend payouts suspensions, and an accelerated company mergers and acquisitions rate. Knowing when a company plans to offer a split or undertake an acquisition is critical for buy-side and sell-side firms.

Corporate action processing is one of the “last frontiers of pain” for investment management, and one of the most manual and complex parts of back-office operations. The lack of uniformity and standards makes it difficult to identify and interpret information correctly. Obtaining accurate and timely information is challenging, and errors can result in painful financial losses. The XigniteGlobalCorporateActions is the first cloud-based REST API to eliminate the pains and complexity caused by legacy data feed and files. The API provides a single-source data stream with consistent information gathered from more than 190 exchanges and over 30,000 U.S. mutual funds.

The recent split of TSLA and AAPL stock on the same day illustrates the complex and far-reaching impact of corporate actions. If a firm does not do this correctly, it will show on historical charts, and their customers will notice. Xignite’s Data Quality team cross-validates our corporate actions data across sources and proactively detects and fixes any missing information. This prevents missing issues such as the TSLA and AAPL splits.

“The industry is facing a ‘perfect storm’”, says Vijay Choudhary, Vice President of Product Management for Xignite. “On one hand you have a massive wave of corporate actions fueled by the pandemic and the rising markets, and on the other you have millions of new retail investors eyeballing their investment applications all day long. One bad corporate action can send your customer service department into a tailspin,” added Choudhary. Additional detail on the Corporate Actions API endpoints:

GetDistributions - Returns cash and stock dividends as declared by the company for a requested security and date range.

GetDistributionsByExchange - Returns cash and stock dividends as declared by the company for a requested exchange and date.

GetEventSummaries - Provides a high-level overview of events for a requested security and date range.

GetMergers - Returns merger events for a given identifier and date range.

GetSpinoffs - Returns spinoff events for a given identifier and date range.

GetSplits - Returns the stock split history for a security for a specified date range.

GetTakeovers - Returns takeover events for a given identifier and date range.

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 specialized microservices-delivered modules to build efficient and cost-effective enterprise data management solutions. Visit http://www.xignite.com or follow on Twitter @xignite

05/18/2021

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

02/25/2021