Xignite Market Data Cloud Integral to Social Media Investment Performance Measurement Service
Xignite, Inc., the leading provider of market data cloud solutions, today announced that Market Prophit, a New York-based market intelligence provider serving individual and institutional investors, is using Xignite real-time market data to provide context to the their proprietary indicators, including their Market Prophit Scores (MPS), Market Prophit Ranks (MPR), and Crowd and Market Prophit sentiment signals. Market Profit's web-based system, formatted for easy use on smart phones and tablets (with mobile apps planned for the future), is currently in free beta. The system analyzes stock-related conversations in social media and generates meaningful sentiment and buzz metrics for retail and institutional clients. A case study on the Market Prophit solution is available.
Market intelligence has always been of prime importance in the investment arena. Once difficult to obtain, information and recommendations now abound in the era of social media. The challenge for both individual and institutional investors today is being able to cut through the “noise” within the ongoing social media chatter to determine those market mavens worth following. Utilizing big data analytics, sophisticated natural language processing and quantitative algorithms to power their proprietary tools, Market Prophit's signals help significantly reduce the noise while quantifiably identifying the mavens in the crowd with the highest quality of information about the stocks and business sectors that the investor cares about.
"Market Prophit quantitatively ranks financial bloggers based on the accuracy of their stock calls and track record of predictions," says Founder and CEO Igor Gonta. "Our mission is to empower every investor with real-time intelligence into what’s moving the market by organizing and quantifying global financial-related conversations. We aim to be the trusted source of rankings of anyone on social media with financial opinions."
The Market Prophit platform incorporates an array of Xignite CloudAPIs that were easily integrated in mere weeks, providing fundamental data for active companies in more than 40 global markets, as well as real-time, delayed and historical pricing data for BATS trades and 150,000 global equities, depository receipts and ETFs traded across more than 50 international exchanges.
"I chose Xignite because of their price point, ease of use and integration, as well as the amount of 'high touch' personal service that I got when I was exploring a relationship," offers Gonta. "Xignite provided all three that were important—especially to a tech startup."
Download the Market Prophit case study.
Xignite, Inc. is the leading provider of market data cloud solutions. The Xignite Market Data Cloud fulfills more than 13 billion requests per month and offers more than 40 market data feeds providing real-time, historical and reference data across all asset classes. Xignite CloudAPIs power mobile financial applications, websites, and front-, middle- and back-office functions for more than 1000 clients worldwide, including GE, Computershare, Investopedia, Personal Capital, Natixis, Charles Schwab, Seeking Alpha, Starbucks and NetSuite. The company also powers private-label, on-demand data distribution solutions for exchanges, including NASDAQ OMX and NYSE Technologies, data vendors including Direct Edge, SIX Financial Information and Alpha Trading, and financial institutions. For more information, visit www.xignite.com.
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