#FintechRevolution Driving Strong Demand for Market Data via Amazon Cloud APIs
Xignite Inc., a leading provider of market data cloud solutions, announced today that in July it served more than 50 billion API requests from its market data cloud platform, breaking all previous company records and making Xignite among the top API cloud providers in the world.
Xignite powers financial applications for more than 1,000 firms located in 55 countries via its collection of more than 1,000 market data APIs. Xignite APIs cover a wide spectrum of market data from real-time quotes for instruments in any asset class, to historical pricing, master data and reference data from more than 150 sources.
To help process the millions of API requests per day, Xignite uses the Amazon Web Services (AWS) Cloud. The infrastructure provided by AWS allows Xignite to effectively and dynamically scale its delivery of real-time financial information while optimizing computing and network resources.
“Fueled by the fintech explosion, our API call volumes have tripled in the past 18 months,” said Stephane Dubois, CEO and Founder of Xignite. “Fintech startups, as well as large financial institutions, are more comfortable now with the use of the cloud, and especially APIs. In the past, APIs have been downplayed and relegated as a solution to power small web sites and applications. But now, the financial services industry realizes that good APIs backed by strong open designs and native cloud architectures, like Xignite, can tackle the most mission-critical applications.”
“Financial institutions of all sizes across the globe are adopting the AWS Cloud to get to market more quickly, cut costs, and be more agile,” said Matt Wood, General Manager, Product Strategy, AWS. “Xignite was an early adopter of the cloud in financial services and we’re excited to continue to watch the company grow on the AWS Cloud as it serves an increasingly impressive number of API requests from its market data cloud platform.”
“As one of the largest consumers of Xignite APIs, we have been pleased with our ability to truly adopt an on-demand approach for market data consumption,” said Jacob Maltz, Product Manager, Financial Data at SeekingAlpha, the leading destination of crowd sourced content service for financial markets comments. “Working with Xignite has allowed us to reduce our development and infrastructure cost and support a massive readership while containing cost and constantly driving innovation in our platform.”
Named one of the ten coolest brands in banking, Xignite, Inc. provides cloud-based financial market data APIs to help emerging companies and established enterprises deliver real-time and reference market data to their digital assets, such as websites and apps. Xignite’s clients include more than 1,000 financial services, media and software companies from disruptive fintech firms, such as Betterment, FutureAdvisor, Motif Investing, Personal Capital, Robinhood, StockTwits, Wealthfront and Yodlee, to leading financial institutions, exchanges and market data vendors including, Nasdaq, SIX Financial Information and BMO. For more information, visit http://www.xignite.com or follow on Twitter @xignite.