Xignite Adds Nasdaq Basic Data to Market Data Cloud Platform
Xignite Inc., the leading provider of market data from the Cloud, announced today that it integrated Nasdaq Basic market data, providing real-time Best Bid and Offer (QBBO) and Last Sale information for all U.S. Exchange listed stocks, on its market data cloud platform. With this agreement, Xignite fintech customers now have convenient API access to high-quality real-time quote data for all U.S. exchange-listed equities at a significantly lower cost. Nasdaq and Xignite will be co-hosting a FinTech Meetup on August 27 in New York to announce more details about the partnership.
Xignite makes accessing and integrating market data into fintech applications dramatically simpler and more affordable for developers than previous generation legacy technologies. Nasdaq Basic provides real-time data for all U.S. exchange-listed securities based on liquidity within the Nasdaq market center, as well as trades reported to the FINRA/Nasdaq Trade Reporting FacilityTM. Xignite enhanced its existing APIs to support this functionality.
Xignite fintech clients powering their innovative financial technology solutions using Xignite real-time market data supplied from Nasdaq include Honk Kong-based financial management platform 8 Securities, mobile trading app Robinhood, real-time social media sentiment providers Market Prophit and Dataminr, and Beijing-based marketplace lending platform Jimubox.
“A lot of the feed and fee structures for equity market data in the U.S. markets were designed in the 1990’s when 99 percent of real-time data was delivered to professionals via terminals,” said Stephane Dubois, CEO and Founder of Xignite. “Times have changed. Real-time market data is now consumed by pros and individuals alike on billions of devices worldwide. Old models do not fit the needs of those users. Nasdaq has taken an innovative approach to making its data easier and more affordable to integrate and consume inside the next generation of fintech applications. It only made sense to provide this data on our cloud platform.”
“Nasdaq is committed to offering financial technology startups quality market data delivered in a fast and customizable way,” said Oliver Albers, Vice President of Nasdaq Global Information Services. “We are excited to be continuing our partnership with Xignite— to provide Nasdaq Basic data to its roster of innovative fintech clients via its leading cloud APIs.”
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.