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Xignite Named to WealthTech 100 List for Second Year in a Row

klangstaff@xignite.com

Xignite, Inc., a provider of market data distribution and management solutions for financial services and technology companies, announced it has been named to the WealthTech 100 list of the world’s most innovative technology solution providers for asset managers, private banks and financial advisors. Xignite also had 8 wealthtech clients on the list, including BUX, CFRA, Harvest Savings & Wealth Technologies, Kristal.ai, Prive Technologies, Nucoro, Sharesight and YCharts.

The wealthtech industry has seen substantial growth over the last four years, as total funding to the sector grew to almost $8 billion at the end of 2019, according to FinTech Global.

Most of Xignite’s clients who are on the WealthTech 100 list work with financial institutions and RIAs, including Harvest Savings & Wealth Technologies and Nucoro, who provide client advisory tools for financial institutions; and CRFA, Prive Technologies and YCharts, who empower investment professionals, advisors and risk managers to make smarter investment decisions on behalf of their clients. Several Xignite retail investing clients, including BUX, Kristal.ai and Sharesight, who focus on making trading accessible for all investors, also made the list.

“Xignite is thrilled to be named to the WealthTech 100 list for the second year in a row,” said Stephane Dubois, CEO and Founder of Xignite. “We are proud to play a leading role in the wealthtech industry at a time when digital wealth has grown in prevalence – a trend that has been accelerated by the coronavirus pandemic. Enabling solutions that allow individuals and families to make the most of their assets is one of the more gratifying parts of what we do. Despite current market volatility, the Xignite team is leveraging our technology to aid our clients’ digital transformation in the most efficient ways possible.”

The 2020 WealthTech 100 list recognizes the pioneering companies transforming the global investment and banking industries. To select the winners, a panel of analysts and industry experts voted from a list of over 1,200 companies produced by FinTech Global. The finalists were recognized for their innovative use of technology to solve a significant industry problem or generate cost savings or efficiency improvements across the investment value chain. A full list of the WealthTech 100 can be found at www.WealthTech100.com

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Xignite retail wealthtech clients include leading digital asset management, robo-advisors and digital brokerages, including Betterment, FutureAdvisor, ElleInvest, Robinhood, MoneyFarm, Personal Capital, SoFi, Wealthfront and WealthSimple. Xignite clients also include leading institutional investment providers developing portfolio management, analytics tools and financial planning software, including Advizr, Envestnet, Invesco, Optima Fund Management, Orion Advisor Services, SigFig, Solovis and Stifel Financial Services.

About Xignite
Xignite Makes Market Data Easy. Xignite is leading the disruption of the market data industry with its AWS-based financial data distribution and market data management solutions. Xignite’s Market Data Cloud Platform provides market data managers full transparency on the usage of a firm's first-level real-time and reference data - making it easy for data owners to entitle, control consumption, comply with licensing requirements, allocate costs, and resolve vendor audits or invoice discrepancies. Xignite also powers financial data-driven robo-advisors, online brokerages, and investing apps with its real-time, delayed and historical pricing data offered via 500+ REST Cloud APIs. Visit http://www.xignite.com or follow on Twitter @xignite.

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Web services data provider Xignite is preparing to unveil a suite of cloud microservices for data management, storage and distribution in the cloud. The firm says this will help companies already moving from in-house operations to cloud storage for certain data and functions to migrate from monolithic legacy data architectures to more agile and less expensive cloud services and data sources. Log in to Waters Technology to read the entire article https://www.waterstechnology.com/data-management/7649816/xignite-debuts-microservices-to-scale-data-management-in-the-cloud

07/02/2020

Xignite, a provider of market data distribution and management solutions for financial services and technology companies, announced today enhancements for two of its financial data cloud APIs. Now offering functionality built for greater speed and specificity, these APIs enable fintechs to provide their users with the ability to follow worldwide business news and track upcoming earnings announcements. Demand for these capabilities has increased significantly since the pandemic started as COVID-19 has had a dramatic impact on corporate financials.

Unlike other financial data APIs, Xignite’s APIs are cloud native and offer a robust selection of use case-based end points. These end points are ready-to-use pieces of code that developers can easily integrate into their product or app, regardless of type, amount or frequency of data, without the need for any complex integration logic. In addition, Xignite APIs offer institutional-quality data and global coverage. They are endlessly scalable, offer multiple delivery options and include flexible, use case-based pricing and unlimited usage, adding up to a transformative financial and market data solution that fintechs can leverage in countless ways to build a better experience for their end users.

Xignite financial data API customers include leading fintechs such as Betterment, Personal Capital, Robinhood, StockCharts, Wealthfront, Wealthsimple and SoFi.

Additional detail on the enhanced APIs:

  • XigniteGlobalNews – This API offers news headlines and summaries for articles related to the economy, business or the financial sector. It includes coverage across over 1,200 publications and websites, drastically reducing time to market for apps that need news and press release content. Headlines and summaries are tagged by sectors covered, company name and more, making them easy to sift through. With the enhancement, firms can now embed functionality to allow users to query headlines by keyword, allowing them to stay up to date on COVID-19 news or any other topic of particular importance to their investment decisions.
  • XigniteEarningsCalendar – This API provides forward-looking earnings, dividend data and events calendar data for trading and risk, encompassing 6,300 companies traded on U.S. and global exchanges. This provides users with critical information to inform their investments and drastically reduces time to market for apps that need earnings calendar data. With the enhancement, firms can now embed functionality to allow users to retrieve multiple earnings calendar items for multiple securities with a single query. 

In addition to the enhancements, Xignite will offer a one-month free trial of XigniteGlobalNews so that developers can test the new functionality. Register for Trial 

“Since the global pandemic started our clients have been making significant adjustments to their solutions in response to user demand and we have been following suit,” said Stephane Dubois, CEO and Founder of Xignite. “Our added functionality endpoints will help people stay on top of the company financial news and global headlines they are most interested in. This is an environment in which conditions and narratives can change at a moment’s notice, and we are pleased that our highly scalable, battle-tested APIs can now play an even bigger role in helping both our clients and their end users navigate this challenging time.”

This is just the latest example of Xignite’s ability to innovate. Earlier this year, the firm received a patent for its market alerts technology.

 

About Xignite

Xignite Makes Market Data Easy. Xignite is leading the disruption of the market data industry with its AWS-based financial data distribution and market data management solutions. Xignite’s Market Data Cloud Platform provides market data managers full transparency on the usage of a firm's first-level real-time and reference data - making it easy for data owners to entitle, control consumption, comply with licensing requirements, allocate costs, and resolve vendor audits or invoice discrepancies. Xignite also powers financial data-driven robo-advisors, online brokerages, and investing apps with its real-time, delayed and historical pricing data offered via 500+ REST Cloud APIs. Visit http://www.xignite.com or follow on Twitter @xignite.

06/09/2020

Cloud-based financial data solutions provider scales to meet client demand amid heightened volumes and volatility.

Xignite, Inc., a provider of market data distribution and management solutions for financial services and technology companies, announced today that it has seen a dramatic increase in API requests over the past few months. In April alone, Xignite saw over 365 billion API hits, or more than 12 billion a day, setting a record for the firm and underscoring the need for a scalable and battle-tested platform to satisfy the needs of clients during an unprecedented time.

Since February, skyrocketing market volumes and volatility, along with economic uncertainty, have significantly increased demand for fast and reliable financial and market data from which trading and investment decisions are made. For example, investors have been riveted to their screens following the markets, driving demand for more quotes, and wealth managers have had a much greater need for historical quotes which are needed to test and build new investment strategies and models. As a result, requests of real-time data have grown by 280% during the period, while requests for historical equity data have increased by 50%.

“The past two-and-a-half months have been difficult both within our industry and in the wider world,” said Stephane Dubois, CEO and Founder of Xignite. “It is reassuring to know that we’ve been a reliable source for our clients in these trying times. There is enough to worry about right now and nobody wants their market data providers to be part of that. Our record number of API hits is a testament to the power of our true cloud-native technology and the scalability it affords us. We look forward to continuing to be a reliable partner through thick and thin to our more than 700 finserv and fintech clients throughout the industry.”

The strong numbers are just the latest validation in what has been a hugely successful year for Xignite. The firm was included on the WealthTech 100 list for the second year in a row and was named a SIIA CODiE Awards finalist.

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About Xignite

Xignite Makes Market Data Easy. Xignite is leading the disruption of the market data industry with its AWS-based financial data distribution and market data management solutions. Xignite’s Market Data Cloud Platform provides market data managers full transparency on the usage of a firm's first-level real-time and reference data - making it easy for data owners to entitle, control consumption, comply with licensing requirements, allocate costs, and resolve vendor audits or invoice discrepancies. Xignite also powers financial data-driven robo-advisors, online brokerages, and investing apps with its real-time, delayed and historical pricing data offered via 500+ REST Cloud APIs. Visit http://www.xignite.com or follow on Twitter @xignite.

05/28/2020

Original Blog Post

Efi Pylarinou is the founder of Efi Pylarinou Advisory and a Fintech/Blockchain influencer – No.3 influencer in the finance sector by Refinitiv Global Social Media 2019. 

Stock Exchanges are data and software businesses. Nasdaq specifically, has had a significant software infrastructure business that provides technology solutions to over 100 organizations, like exchanges, clearinghouses, Central securities depositories, and regulators in over 50 countries.

This past week Nasdaq announced that they have partnered with AWS to offer real-time market data via the Cloud. So, why is this important in the 3rd decade of the 21st century? Wasn’t Nasdaq and other exchanges delivering market data via the cloud already?

My research released that Cloud adoption for primary market data from the source, is decent But like often is the case, the devil is in the details.

First, it seems that cloud adoption of market data directly from the source is about 2-3yrs old. Fintech Xignite always comes to my mind when I think of the early disruption in this market as a classic example of a Thomson Reuters disruptor (now Refinitiv).

Xignite – a wind intensifying the Fintech fireworks was one of my blog posts during my first quarter writing on Daily Fintech in May 2015! I am getting close to 270 blog posts as we speak.

Only in late 2018, did Refinitiv start offering historical tick data to its clients via the Cloud in partnership with Google. They had to spend resources to convince their customers to stop deploying trucks full of tapes with the valuable historical tick data and storage rooms to process the data on the tapes. Their selling points included cost savings and efficiency gains in the Search for Alpha. See details here

Nasdaq has been offering historical market data of all sorts much earlier always in collaboration with AWS. Their collaborations started in 2008 with certain data-on-demand offerings! Since then, they have also collaborated with Xignite for certain on-demand data sets (as early as 2011 see here).

Their recent cloud offering, the Nasdaq Cloud Data Service (NCDS), is bringing real-time data (not delayed or historical) via the cloud. It starts with real-time data for Nasdaq TotalViewNasdaq BasicNasdaq Last SaleNasdaq Global Index Data Service (GIDS) and Nasdaq Fund Network.

One would think that real-time data via the cloud would only benefit HFT trading businesses that profit from latencies in market data. But that is not actually the case. There are several benefits to access real-time data via cloud beyond the obvious cost optimization (reduction in costs and paying for what you consume). These include real-time risk management and search for alpha, as there is not `hoping on and off` the cloud between all the departments that collaborate to monitor portfolios and the markets. Traders, middle office, and back office, can attain real-time sync with real-time access via the cloud and into the variety of applications each one of them uses.

To make this simple and clear: A trader usually has access to real-time market data (if not via the cloud, then he-she is overpaying because no one uses all the data since a trader will be focused in one area or instrument). The middle, back office and risk management do not have access to real-time data and therefore, they run their dozens of applications out of sync.

This market is clearly behind.

A recent report by Xignite and Greenwich Associates quantifies the market appetite for market data feeds via the cloud.

Screen Shot 2020-04-27 at 11.18.45

The survey shows that the market for accessing market data via cloud is ripe. However, the misconception that real-time data is not so suitable for the Cloud and for those trading (but not HFT) has not been overcome. The way I see this evolving is through realizing the benefits of Stream processing. Technologies that allow us to compute directly on data, are here and their adoption will unlock more benefits and value.

04/28/2020