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LATEST NEWS ABOUT XIGNITE

Inside Market Data & Inside Reference Data Awards.
FEATURED 09/23/2020

Xignite, Inc., a provider of market data distribution and management solutions for financial services and technology companies, today announced it won the Best Real-Time Market Data Initiative at the Inside Market Data & Inside Reference Data Awards.

A longtime leader in the market data cloud space, Xignite provides financial data through its innovative cloud APIs, which are developer-friendly, reliable and endlessly scalable. Xignite data is normalized and ready-to-use, eliminating common pain points with legacy providers, while maintaining global coverage and institutional quality.

This award recognized Xignite’s work with SoFi, a leading digital personal finance company. In 2019, SoFi launched SoFi Invest, a free consumer investing service, and enlisted Xignite to power the entire platform, from its robo-advisor capabilities, to financial newsfeed, to real-time market alerts and curated stock list. SoFi has identified a number of ways in which these key features are driving member engagement – for example, 10% of users who receive a market alert make a trade within an hour. For more details on this collaboration, download the case study HERE.

“We are honored to be recognized for Best Real-Time Market Data Initiative. Xignite was the first to bring market data to the cloud, and we have continued to innovate and point the way to the future of this unique subset of the industry,” said Stephane Dubois, CEO and Founder of Xignite. “The SoFi collaboration is a great example of how a firm can leverage our diverse range of APIs to build an all-encompassing platform and scale it rapidly. As we look to the future, we will continue to serve our clients through transformative offerings, including our suite of Xiginite Enterprise Microservices, which we announced in July.”

The Inside Market Data & Inside Reference Data Awards are held by WatersTechnology and recognize industry excellence within market data, reference data and enterprise data management. The award ceremony took place during the publication’s Innovation Exchange held virtually from September 9 to September 22.

This is the latest honor in what has been a fruitful year for Xignite on the awards circuit. In the spring, the firm was named an SIIA CODiE Awards finalist and included on the WealthTech 100 list.

About Xignite
Xignite has been disrupting the financial and market data industry from its Silicon Valley headquarters since 2006 when it introduced the first commercial REST API. Since then, Xignite has been continually refining 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 and leverage a suite of specialized microservices to build efficient and cost-effective enterprise data management solutions. Visit http://www.xignite.com or follow on Twitter @xignite

About the Inside Market Data and Inside Reference Data Awards
The annual Inside Market Data and Inside Reference Data Awards, now in their 17th year, play a key role in WatersTechnology’s awards program, and are the only awards that feature a mix of call-for-entry categories determined by a panel of judges and categories compiled by WatersTechnology’s journalists and voted on by the brand’s readership. This year’s awards featured 32 categories in total: 21 call-for-entry categories, 10 journalist-compiled categories, and a hall of fame (lifetime achievement) award.

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PREVIOUS NEWS

SoFi

Xignite, a provider of market data distribution and management solutions for financial services and technology companies, today revealed the results of a collaboration with leading digital personal finance company SoFi on the launch of the SoFi Invest trading platform. Click HERE to download the case study containing the full results.

A longtime leader in the student loan refinancing space, SoFi wanted to help its highly educated client base in the next phase of their personal finance journeys by offering a trading platform. The firm partnered with Xignite for its ability to deliver flexible, endlessly scalable and institutional-strength data solutions at an affordable rate, and was able to launch SoFi Invest in 2017.

The result was a new line of business that continues to see substantial growth. In addition, by leveraging Xignite’s alerts capabilities (for which Xignite received a patent earlier this year), SoFi can more effectively activate its client base; when an alert is sent, client engagement increases by 25% within a day and 10% of users make a trade within the hour. 

A key aspect of the collaboration was Xignite’s battle-tested cloud APIs that have enabled SoFi to make fine-tuned investment recommendations through its roboadvisor, and curate lists of stocks based on key characteristics in easily digestible formats. In addition to market data, Xignite’s Global News API enables SoFi to feature the latest financial headlines across its platform to boost engagement and inform its client base. 

“Xignite data is comprehensive and easy to use,” said Sam Nofzinger, Trading and Investment Manager at SoFi. “We don’t need to contract with multiple providers to get the data we need, nor do we have to process the data in order to use it. Their APIs enable a streamlined process that allows our staff to focus on what they do best: building innovative features for our clients.”

“We are proud to have so many fintechs on our client roster, and SoFi is one of our biggest success stories,” said Stephane Dubois, CEO and Founder of Xignite. “This case study demonstrates how the right data solution can enable not just a robust trading platform and powerful roboadvisor, but also a host of other features to drive engagement, education and a better user experience overall. We look forward to continuing our work with SoFi as they serve their clients during this time of disruption.”

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.

DISCLOSURES
SoFi Lending Corp. CFL# 6054612, NMLS #1121636 (www.nmlsconsumeraccess.org). Advisory services are offered through SoFi Wealth, LLC an SEC-registered Investment adviser. Brokerage products and SoFi Money® are offered through SoFi Securities LLC, member FINRA/SIPC. Neither SoFi nor its affiliates is a bank. ©2020 Social Finance, Inc.

08/19/2020

Waters Technology

By Max Bowie - Waters Technology

NICE Actimize has fortified the datasets available for use in its Surveil-X trade surveillance tool, using exchange prices and other data from Swiss vendor SIX, delivered via Xignite’s new suite of microservices for content distribution and data management.

The vendor is preparing to go live with the joint solution “any day now,” after completing some final data validation, says Sam Sundera, head of future business at SIX, who is based in the San Francisco Bay Area, and is responsible for dealing with partners, new technology data and initiatives, and with banks’ innovation labs.

A subscription to Waters Technology is required to read this article.

07/23/2020

Xignite Partners with SIX

The Two Companies Deliver Industry’s Largest Global Coverage Sourced from 1,800+ Trading Venues Via Hyper-Scalable Cloud APIs

Xignite, Inc., a provider of market data distribution and management solutions for financial services and technology companies, and SIX, today announced a strategic partnership. Xignite and SIX are now offering real-time data from the catalog of SIX which includes 1,800+ global exchanges and trading venues via Xignite Enterprise Microservices, a suite of cloud-native market data management services built to transform how firms store, distribute, manage, and control market data in the cloud. The partnership accelerates the transition of large financial institutions and fintechs to the cloud. This is the first time such a comprehensive set of market data has been offered to the market via a native cloud solution.

Xignite’s battle-tested cloud-native solution currently serves more than 12 billion API calls per day to 750 clients around the world--making it the largest cloud API platform in capital markets. Xignite recently introduced Xignite Enterprise Microservices, a suite of vendor-agnostic services large firms can deploy to migrate their market data infrastructure and any of their existing data sources to the cloud.

“Large financial institutions have been looking for cloud-native market data solutions capable of handling their broad coverage requirements and offering a state-of-the-art customer experience.” says Stephane Dubois, CEO and founder of Xignite. “The pandemic has worsened the situation as firms want to get away from maintaining complex and expensive on-premise infrastructures that are overkill for most of their needs,” added Dubois. “We had the enterprise technology but not the coverage, so partnering with SIX made sense. We are thrilled to partner with SIX and be first to market with a true global enterprise solution.” 

SIX is one of the few market data vendors offering full coverage of the global capital markets. The Market Data Feed (MDF) from SIX delivers a steady stream of global market information that is consolidated, standardized and in real time. With MDF clients get access to over 30 million instruments across all asset classes and from more than 1,800 exchanges, OTC markets, and other trading venues. The combined solution integrates the MDF feed from SIX delivered from hosted collocation facilities to Xignite Enterprise Microservices deployed in the client’s own cloud account. The Xignite Real-Time Microservice is used to distribute real-time data internally or externally from the cloud via scalable APIs while the Xignite Entitlements and Usage Microservice provides control and transparency of data consumption and usage.

“Partnering with Xignite is a great leap for SIX in making its market data easily available to all buy-side and sell-side professionals. While making the richness, depth and wide coverage of our Market Data Feed available via Xignite’s cloud-based solution, we offer clients streamlined access to the highest quality data without a complicated acquisition process, burdensome integration or costly development,” commented John McManus, Head Sales, Financial Information, SIX.

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.

About SIX

SIX operates and develops infrastructure services in the Securities & Exchanges, Banking Services and Financial Information business units with the aim of raising efficiency, quality, and innovative capacity across the entire value chain of the Swiss financial center. The company is owned by its users (122 banks). With a workforce of some 2,600 employees and a presence in 20 countries, it generated operating income of CHF 1.13 billion and Group net profit of CHF 120.5 million in 2019.
 www.six-group.com

07/23/2020

Xignite Fintech Startup Program

Xignite, Inc., a provider of market data distribution and management solutions for financial services and technology companies, announced today it has created a new program to assist early stage and start-up financial technology companies during the COVID-19 pandemic. To apply for this program visit https://www.xignite.com/fintech-development-program/

The costs associated with developing and launching fintech products and apps can be daunting, even in the best of times. A particularly challenging aspect can be the procurement of quality financial and market data. Hidden fees, restrictions on the use of data, poorly written APIs and exchange requirements are just some of the factors, in addition to costs, that can make it difficult for new or small fintechs to survive.

To assist early stage fintech companies, Xignite is inviting these disruptors to leverage the same technology and data APIs that have helped move the industry forward over the last decade. Through this program, companies can continue to develop their ideas and products without a significant capital commitment. Participants will be able to take advantage of development access for 60 days on Xignite’s most popular financial data APIs and enjoy significant discounts on fees for the first year. Also included in the program is access to real-time, 15-minute delayed and end-of-day stock prices, company data, currency exchange rates, indices, corporate actions and master data.

“Not only are we offering a compelling financial incentive, but companies will have access to the experts on our Product and Engineering team who not only first brought financial market data to the cloud, but also helped support and power some of the biggest disruptors in the industry such as SoFi, Robinhood and Betterment,” said Ryan Burdick, Senior Vice President and Global Head of Sales at Xignite. “By introducing this program, Xignite is able to support the next wave of entrepreneurs by helping to keep their visions moving forward as seamlessly as possible during this unprecedented time.”

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.

07/14/2020

Xignite Enterprise Microservices

NICE Actimize Gains Agility and Scalability Bringing its Real-time Market Data Infrastructure to the Cloud

Xignite, Inc., a provider of market data distribution and management solutions for financial services and technology companies, today announced the launch of Xignite Enterprise Microservices, a powerful suite of cloud-native market data management services built to transform how firms store, distribute, manage and control market and financial data in the cloud. NICE Actimize, the leading global provider of financial crime, risk and compliance solutions is the first user of the new Real-time Microservice solution.

Microservices are an architectural approach in which core functionality is handled by loosely coupled, independently deployable components that can work together or separately. Because you can deploy microservices as separate functional units, you can pick and choose the functionality you want and scale them massively at the lowest possible cost. Microservices stand in stark contrast with monolithic platforms that require many dedicated on-premise servers which are expensive to manage, often under-utilized, can’t scale on-demand and require frequent updates and upgrades for even minor changes. Most enterprise platforms also require firms to pay for capabilities that are not needed.

The Xignite Enterprise Microservices run on Xignite’s battle-tested cloud-based architecture that currently supports more than 250 different data sources and 12 billion API calls per day for over 750 fintech and financial services clients. Financial institutions can now leverage the same cloud technology Xignite has been refining and scaling for more than 10 years to move their own financial and market data to the cloud. Xignite’s microservices are built from the ground up for the cloud, in contrast with legacy data providers that are attempting to “lift and shift” their monolithic platforms for that purpose.       

Xignite Enterprise Microservices are vendor-agnostic and can bring transformative results to any data set a firm may license or collect from vendors such Bloomberg, FactSet, ICE Data Services, SIX Financial, Vela Trading, QuantHouse and many others, as well as in-house proprietary data.

“We are incredibly excited to launch Xignite Enterprise Microservices, which we believe will truly revolutionize market data management,” said Stephane Dubois, Founder and CEO of Xignite. “The culmination of over 10 years of nonstop innovation, we have taken the cloud-native architecture that has powered some of world’s most prominent fintechs and scaled it to meet the unique requirements of institutional players that consume huge amounts of data but often have no way of integrating and optimizing it in an efficient and cost-effective way. Firms are no longer required to hitch their wagon to a single provider – instead, they can use a combination of our microservices to secure all the benefits they would get from a rigid legacy offering. We are the only vendor offering a suite of market data management microservices that clients can mix and match to create a comprehensive, infinitely scalable cloud-based solution that meets their exact needs. We firmly believe that offerings like these are the future of market data, and we are thrilled to once again take a leading role in the financial services industry’s continued digital transformation.”

The suite includes seven cloud-native microservices targeted to buy-side, sell-side and fintech firms, as well as exchanges:

  • Xignite Data Lake Microservice is a cloud-native data management and distribution solution that centralizes existing data and enables financial services firms to provide easy access to the data via highly scalable cloud APIs, reducing costs and improving efficiency by eliminating legacy infrastructure.
  • Xignite Optimization Microservice is a cloud-native pricing and reference data cost optimization solution that enables the control of large reference data sets, such as Bloomberg Data License, via intelligent caching, sophisticated entitlements and advanced analytics and reporting.
  • Xignite Entitlements and Usage Microservice is a cloud-native market data access control and reporting solution that enables financial services firms to have complete control and transparency of data consumption and usage, and provides reports of data usage across various data sets, users and applications to ensure vendor compliance.
  • Xignite Reference Microservice is a cloud-native solution that aggregates, normalizes, stores and indexes reference data from multiple vendors across all asset classes into a centralized repository and access layer, enabling centralized access across the entire enterprise and improving data consistency, completeness and timeliness.
  • Xignite Historical Microservice is a cloud-native time-series data management solution that enables financial services firms to capture historical data from different sources and integrate with security master and corporate actions data to provide a fully normalized, stitched and adjusted historical data view via highly scalable cloud APIs.
  • Xignite Real-Time Microservice is a cloud-native real-time data distribution solution that enables financial services firms to distribute real-time data internally and externally via highly scalable and flexible cloud APIs, eliminating on-premise infrastructure.
  • Xignite Fundamentals Microservice is a cloud-native data management solution that enables financial services firms to capture simple or complex time-series data structures associated with an entity such as a regional level security or issuer, and make them available via specialized and highly scalable cloud APIs.

These microservices are already transforming how the industry manages data. NICE Actimize, a leading provider of financial crime management solutions, has replaced its legacy solution with the Xignite Real-Time Microservice to onboard and manage multi-asset class, level 1 and 2 co-located feeds from multiple sources.

The launch of Xignite Enterprise Microservices is the latest highlight in what has been a hugely successful year for the firm. Last month, Xignite received a patent for its alerts technology and the company was named a SIIA CODiE Awards finalist and added to the WealthTech 100 list.

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.

07/08/2020

The suite of microservices will allow firms with high data requirements to configure specific content and tools in the cloud.

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 Financial News Data

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

Xignite Serves 12 Billion API Hits

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

WealthTech 100

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.

04/29/2020

The Daily FinTech

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