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Xignite On-Demand Platform Receives Multiple Industry Awards

Xignite

Provider of Market Data Cloud Recognized by Readers of Inside Market Data and Inside Reference Data at 2011 Incisive Media Awards in New York
SAN MATEO, CA - June 2, 2011 - Xignite, Inc., the leading cloud services provider of on-demand market data distribution technologies, announced today that it was nominated for three prestigious awards, securing two wins overall, at the 2011 Incisive Media Awards Banquet. The awards included "Contract Win of the Year" for its work with CME Group on CME DataCloud and "Most Innovative Market Data Project" for its work with NASDAQ OMX on the NASDAQ Data On-Demand project, an honor conveyed to the team at NASDAQ OMX. The XigniteOnDemand platform was also considered in a tight race for the "Best New Data Product" award. Xignite won "Contract Win of the Year," for establishing and fostering the relationship necessary to build and manage CME DataCloud, a new on-demand market data delivery solution that provides all new OTC asset pricing and reference data sets, including OTC Energy and Credit Default Swaps. In the case of the "Most Innovative Market Data Project" award, Xignite partnered with NASDAQ OMX to deliver NASDAQ Data-On-Demand, a cloud-based solution that provides flexible and cost effective access to massive amounts of historical Level 1 tick data. "These awards demonstrate that on-demand cloud-based technology is gaining recognition and acceptance among market data professionals," said Stephane Dubois, President and CEO of Xignite. "We faced formidable competition this year, but Xignite emerged as a clear winner. I look forward to competing again next year." "Hosted by Inside Market Data and Inside Reference Data, these awards recognize industry excellence with market data, reference data and enterprise data management," said Lee Hartt, Publisher at Incisive Media. "Our readers at financial institutions select winners by participating in our survey covering twenty-two separate vendor categories." While cloud computing in general has received much justifiable concern in the financial technology community, these awards validate the belief that market data in particular is uniquely suited to the cloud for three reasons.
  • Market data is unconstrained by the privacy concerns of personal data.
  • Cloud economies can lower the total cost of ownership of market data infrastructure by up to ninety percent when compared to on-premise solutions.
  • Cloud-based development significantly increases business agility and can reduce time to market for new applications by up to ninety percent.
Consider the growing amount of market data that the average financial services firm needs to manage, developing a new modern solution such as mobile applications, using a traditional data feed can take hundreds-of-thousands of dollars and three to six months to deliver. Contrast that approach with a cloud-based implementation. The cloud can deliver a comparable solution for tens-of-thousands of dollars in less than a month. About XigniteXignite is the leading cloud services provider of on-demand financial market data and award-winning on-demand data distribution solutions. Xignite's market data cloud fulfills more than five billion service requests per month and offers more than 50 financial Web Services providing real-time, historical and reference data for global equities, commodities, currencies, options, fixed income, mutual funds, derivatives and OTC instruments. Xignite solutions power mission-critical applications for front, back and mid-office, investor relations, dashboards, e-commerce, wireless applications and financial websites for more than 900 clients in 47 countries, including Citi, GE, Wells Fargo, Computershare, ING, BNY Mellon, Natixis, Dow Jones, Forbes.com, SeekingAlpha, ExxonMobil, Starbucks, and Barrick Gold. The award-winning XigniteOnDemand cloud platform also powers on-demand market data distribution solutions for stock exchanges, trading venues, OTC brokers and market data originators including the CME Group, NASDAQ OMX, BgCantor and Pearson. For more information, please visit www.xignite.com or call 1-866-XML-SOAP. Media Contact: Maria Canul Xignite Inc. mcanul [at] xignite.com +1.650.655.3700

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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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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

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