SAN MATEO, CA – September 13, 2011 - Xignite, Inc., the leading financial market data cloud provider, today announced that it has secured $10 million in Series B funding from StarVest Partners, L.P. and John L. "Launny" Steffens of Spring Mountain Capital and former vice chairman of Merrill Lynch. The equity financing, which also included participation from previous investors Altos Ventures, Startup Ventures and Peter Caswell, will be used to support the company’s rapid growth through expansion of sales and marketing operations and extension of the Xignite market data cloud platform.
Xignite Market Data Cloud Bridges the Financial Data – App Explosion Gap
Financial markets are generating exponentially increasing amounts of market data due to high-frequency trading, venue fragmentation, and an ever expanding pool of financial instruments. In turn, financial services IT departments are being crushed between these record-level volumes of market data and the need to deliver it to a rapidly growing and increasingly mobile set of applications. The Xignite market data cloud platform allows firms to push this big data to the cloud where it is available globally, on-demand to any application with an Internet connection, allowing IT departments to focus on building the next generation of apps, instead of managing mountains of data.
"Every day financial markets generate one-hundred times more data than they did just five years ago," said Stephane Dubois, CEO and founder of Xignite. "At the same time, the one-size-fits-all terminal model is breaking down as businesses drive productivity through simpler, nimbler fit-for-purpose apps. Cloud-based market data is the only solution that can bridge this gap."
Transforming the Way Firms Buy, Sell and Consume Financial Market Data
"The Xignite cloud platform has the potential to create a seismic shift in the way financial services firms buy, sell and consume the core market data required to run their businesses," said Deborah Farrington, co-founder and general partner, StarVest Partners, L.P. who led the investment round for StarVest and has joined Xignite’s board of directors. "Xignite aligns perfectly with StarVest’s investment strategy: to seek out companies with innovative business models and experienced management teams that create disruptive technologies to solve real business problems."
The Xignite market data cloud platform transforms market data infrastructure into a utility just like electricity. Businesses can buy online and plug applications into the Xignite market data cloud in minutes. Exchanges and trading venues that put their market data onto the XigniteOnDemand private-label platform, such as NASDAQ OMX and CME Group, achieve immediate, global distribution through new online channels and superior market transparency as demanded by many of the new regulations resulting from the recent financial crisis.
"Xignite puts professional-grade, big market data in everyone’s hands, leveling the playing field and bringing stronger transparency to the financial services industry," said Launny Steffens. "The cloud democratizes access to financial information for the little guys, while dramatically lowering the data management and delivery infrastructure costs for large banks, hedge funds and money managers."
About Xignite
Xignite is the leading financial market data cloud provider, offering more than 50 financial cloud APIs and fulfilling more than five billion service requests per month for real-time, historical and reference data covering global equities, commodities, currencies, options, fixed income, mutual funds, derivatives and OTC instruments. The Xignite market data cloud powers mission-critical applications for financial services front, middle and back office, financial websites, investor relations, corporate ERP and BI, e-commerce, and mobile for more than 900 clients in 47 countries, including Citi, GE, Wells Fargo, ING, BNY Mellon, Natixis, Forbes.com, SeekingAlpha, ExxonMobil, Starbucks, Netsuite, and Barrick Gold. The award-winning XigniteOnDemand cloud platform also provides new online channels for stock exchanges, trading venues, OTC brokers and market data originators including CME Group, NASDAQ OMX, BGCantor and Pearson. For more information, please visit www.xignite.com or call 1-866-XML-SOAP.
About StarVest
StarVest Partners is a New York-based venture capital firm founded in 1999 that invests in technology-enabled business services companies throughout the U.S. The firm's value-added partnership focuses on four key emerging technology and services sectors: Software as a Service (SaaS), Internet Marketing Services, eCommerce Services and Data Aggregation Services. StarVest combines a sophisticated investment background with the experience to foresee opportunities for both its portfolio companies and funding partners. The firm`s general partners are Larry A. Bettino, Deborah A. Farrington, Laura B. Sachar and Jeanne M. Sullivan. StarVest was an early investor in the software-as-a-service trend: in 2000, it invested as the only venture firm in NetSuite (NYSE: N) where Deborah Farrington currently serves as lead director. Other noteworthy investments include MessageOne, acquired by Dell Computer; Connected, acquired by Iron Mountain; iCrossing acquired by Hearst; Insurance.com acquired by QuinStreet; and Fieldglass acquired by Madison Dearborn; Host Analytics, Accept Software and ideeli, among others. More information about StarVest is available at the company's Web site: www.starvestpartners.com
About John L. "Launny" Steffens
Mr. John L. Steffens is the founder of Spring Mountain Capital and a Co-Managing Member of its general partner. Prior to this, Mr. Steffens spent 38 years at Merrill Lynch & Co., Inc., where he held numerous senior management positions, including president of Merrill Lynch Consumer Markets (which was later named the Private Client Group) from July 1985 until April 1997, and both vice chairman of Merrill Lynch & Co., Inc. (the parent company) and chairman of its U.S. Private Client Group from April 1997 until July 2001. Mr. Steffens served on the board of directors of Merrill Lynch & Co., Inc. from April 1986 until July 2001. He also served as a member of the board of directors of Merrill Lynch Ventures, LLC (a U.S. $1.8 billion private equity fund for key employees.) Mr. Steffens has served as chairman of the Securities Industry Association, as a trustee of the Committee for Economic Development and is currently National Chairman Emeritus of the Alliance for Aging Research. Mr. Steffens currently serves on the advisory board of StarVest Partners, the advisory board of Wicks Communication & Media Partners, L.P., the board of directors of HealthPoint Capital, and as Chairman of the board of directors of Cicero, Inc. He also serves on the Boards of Colony Financial, Inc. and Perquest, Inc.
Media Contact:
Maria Canul
Xignite Inc.
mcanul [at] xignite.com
+1.650.655.3700
Partners with ESG Book to Drive Investor Sustainability Engagement
SAN MATEO, Calif., April 12, 2022 /PRNewswire/ -- Xignite, Inc., the leading provider of market data APIs to brokers and wealth managers, announced the launch of a new Environmental, Social and Governance (ESG) data API in partnership with ESG Book, a global leader in ESG data and technology. Xignite's brokerage, wealth, and media customers can now increase user engagement and retention with state-of-the-art sustainability trading products.
As ESG investment has gone mainstream, today's digital investors, institutional investors, and corporations alike require ESG data to help them answer questions that range from a company's workforce diversity to its commitment to a net zero future. In this context, brokers and wealth managers can use ESG data to increase client engagement around their portfolios and differentiate their offerings in a very fragmented marketplace.
"We are thrilled to extend our highly scalable and advanced API platform to include ESG Book's real-time sustainability dataset. With the recent SEC announcement of proposals for climate disclosure, the momentum for sustainability data in the U.S. just keeps on building. If you do not offer ESG data and portfolio analytics to your clients today, you will run into growth and retention challenges," said Stéphane Duboi, the CEO of Xignite.
Dr Daniel Klier, CEO of ESG Book, said: "As capital markets transition towards a more sustainable, net-zero future, demand for accessible, comparable and transparent ESG data has never been higher. We are delighted to be partnering with Xignite, a global leader in API solutions, to deliver our real-time ESG data products to clients at both speed and scale through the latest cloud technology."
Xignite's new ESG API is designed to fast track the launch of ESG powered products. Transparent, well-structured and easy to understand ESG datasets eliminate the need for robust in-house ESG expertise. Advanced screener endpoints further simplify development by eliminating the need to maintain a database.
XigniteGlobalESG API covers a comprehensive universe of public companies domiciled in North America, EMEA, APAC, and Latin America. In addition to ESG scores, this API provides Global Compact scores, involvement data, temperature scores, and raw emissions data.
About Xignite
Xignite is the leading provider of market data API solutions to brokers, wealth managers, and the tech firms who serve them. Xignite has been disrupting the market data industry from Silicon Valley since 2003 when it introduced the first commercial REST API. Today, more than 700 firms use Xignite's APIs more than half a trillion times a month to deliver high-value data to digital investors. Visit xignite.com or follow us on Twitter @xignite.
About ESG Book
ESG Book is a global leader in sustainability data and technology. Through a cloud-based platform, ESG Book makes sustainability data more widely available and comparable for all stakeholders, enables companies to be custodians of their own data, provides framework-neutral ESG information in real-time, and promotes transparency. It counts many of the world's leading financial organisations among its clients, which collectively manage over $120 trillion in assets. www.esgbook.com
04/12/2022
Sales Up 50%. API Volumes Now Exceed Half a Trillion per Month.
Xignite, Inc., the leading provider of market data APIs to brokers and wealth managers, announced that 2021 was a banner year for its business. Xignite experienced more than 50% growth in new client bookings over 2020. Most of this growth was fueled by heavy demand from new brokerage and wealth management applications as more firms entered the business. Xignite also saw a 53% increase in API consumption to a whopping half a trillion requests a month - driven mainly by increased activity from digital investors as they consumed more and more data during the pandemic.
The Digital Investor Revolution was created by the convergence of zero-cost trading, fractional shares, working from home, the pandemic, and the emergence of a new and more powerful generation of retail investors. This has created significant momentum in trading and wealth management, primarily US-based equity and options trading. And it has fueled the entrance of a considerable number of new prominent players in the field, especially embedded finance providers. It all came to light in early 2021 with the Reddit and Gamestop phenomenon. But it has not proven to be short-lived. The transformation could be profound. Indeed Xignite saw its momentum accelerate in Q4-2021, with bookings growth exceeding 310% over the same quarter in 2020.
“Xignite is one of the oldest and most scalable commercial API infrastructures globally. It’s not a surprise that our clients have grown to rely on us for their mission-critical business needs,” says Stephane Dubois, Xignite’s CEO and Founder. “It’s not only the mind-numbing volumes that we have to deal with,” adds Dubois, “It’s also the 4-nine+ level of availability we deliver day in and day out coupled with the awesome market data quality and the high touch responsiveness of our support teams. These metrics matter to large embedded finance firms entering the business or legacy firms migrating to the cloud. They spend tens of millions of dollars entering the business. They don’t want to see it evaporate because of poor data quality or API availability.”
About Xignite
Xignite powers the investing apps and services that enable millions of people to manage their portfolios and trade stocks from a phone or tablet with the industry’s best financial market data APIs. We help more than 700 fintech trading, investment, and analytics firms like Robinhood, SoFi, and Betterment provide digital investors with the market data they need, such as real-time stock prices and company news. Visit xignite.com or follow on Twitter @xignite.
03/10/2022
Xignite, Inc., the leading provider of market data APIs to brokers and wealth managers, announced the launch of a new cryptocurrency data API. Xignite’s brokerage, wealth, and media customers can now increase the value and stickiness of their services to digital investors by taking advantage of the depth and breadth of data offered by this API.
Investment in cryptocurrencies has increased dramatically over the last few years and has proven to draw new investors into the world of trading. As a result, brokerage companies are trying hard to make buying, selling, and holding Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), and other cryptocurrencies as easy as possible for their clients. The XigniteCrypto API is the first to bring together a vast universe of cryptocurrency information alongside the equity, ETF, and option data brokers and fund managers need to offer high-quality services to their clients. It also provides the depth of functionality required for them to engage customers and drive trading activity
“Cryptocurrencies tend to operate in their own world,” said Stephane Dubois, CEO, and Founder of Xignite. “This means that if you want to offer integrated equity, option, and crypto trading or analytics for your clients, you are going to have to cobble up a lot of heterogeneous data from many disparate sources, and that’s a pain,” adds Dubois. “With our new crypto API, you get the depth of coverage, the quality, and the reliability across all asset classes you need to grow your business - all in one integrated solution.”
Xignite’s new cryptocurrency API, XigniteCrypto, provides real-time and historical quotes for over 900 cryptocurrencies, including coins and tokens. It includes unique API endpoints that help firms engage digital investors, using the data and tools they need to make crypto trading decisions, including price alerts, historical charting, currency conversion, and cryptocurrency news.
About Xignite
Xignite is the leading provider of market data API solutions to brokers, wealth managers, and the tech firms who serve them. Xignite has been disrupting the market data industry from Silicon Valley since 2003, when it introduced the first commercial REST API. Since then, Xignite has continually taken advantage of new technologies to help its clients grow their business and serve their customers better by using financial market data effectively. Today, more than 700 firms use Xignite’s APIs more than half a trillion times a month to deliver high-value data to digital investors. Visit xignite.com or follow on Twitter @xignite.
02/15/2022
Xignite, Inc., a cloud-based market data distribution and management solutions provider for financial services and technology companies, announced a new Vendor of Record service for clients subscribing to real-time and delayed market data. The new service vastly simplifies the administration and reporting required by exchanges and often eliminates the need to pay redistribution fees, potentially saving clients thousands of dollars a month.
As an approved Vendor of Record, also called a Service Facilitator, Xignite can redistribute real-time and delayed equities and options pricing data from Nasdaq, New York Stock Exchange (NYSE), Options Price Reporting Authority (OPRA), OTC Markets (OTCM), and the Toronto Stock Exchange (TSX).
Adhering to the complex compliance guidelines required by exchanges is extremely difficult for investment advisers, financial advisers, or order management software providers that need to display real-time or delayed data. Each exchange has its own unique set of regulations and compliance requirements, and clients need to prove that they have control over who receives the data, in what format, and for what use case. Xignite’s Vendor of Record service eliminates the administrative burden of tracking these complex compliance requirements.
The new service utilizes Xignite’s cloud-native Entitlements and Usage Microservices to give firms complete control and transparency of their data consumption and usage. Xignite provides data entitlements, usage tracking, and exchange reporting across various data sets, users, and applications to ensure exchange compliance. Xignite’s new service sometimes eliminates the need to pay expensive redistribution fees. Exchange fees for display data, regardless of the number of users, can cost upwards of $10,000 per month. These high fees are especially difficult for smaller financial firms with just a few real-time data users.
“Maneuvering through the maze of required compliance policies, entitlements, usage tracking, and reporting requirements, and being subjected to frequent audits is no easy feat,” said Vijay Choudhary, Head of Product for Xignite. “Xignite’s mission is to “Make Market Data Easy.” Today’s announcement is another step towards this. We are taking away the administrative burdens and complexity of licensing market data and allowing our clients the freedom to focus on their investment and trading strategies and building innovative products.”
Xignite’s Vendor of Record service is available for professional users with internal and display-only use cases. The service is available now as an add-on service for subscribers of our real-time and delayed equities and options pricing data APIs. These include:
About Xignite
Xignite has been disrupting the financial and market data industry from its Silicon Valley headquarters since 2003 when it introduced the first commercial REST API. Since then, Xignite has continually refined 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 to build efficient and cost-effective enterprise data management solutions. Visit xignite.com or follow on Twitter @xignite.
09/21/2021
