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:
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.
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.
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.
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