Product Overview of Xignite
Xignite, now part of QUODD, is a leading provider of cloud-native financial market data distribution and management solutions. Here’s an overview of what Xignite does and its key features:
What Xignite Does
Xignite specializes in delivering real-time and reference financial market data to over 700 financial services and fintech companies, including prominent clients such as BlackRock, Robinhood, SoFi, and Investopedia. The platform offers a comprehensive suite of APIs and services designed to simplify the integration and management of financial data, enabling developers and financial institutions to build and enhance their applications efficiently.
Key Features and Functionality
Data Offerings
Xignite provides access to a vast array of financial data through its cloud-based APIs. This includes:
- Real-Time and Historical Stock and ETF Data: Offers real-time, streaming, delayed, intraday, and historical prices for global equities and ETFs.
- Market Data: Includes real-time and reference market data from over 250 different sources, supporting 12 billion API calls per day.
- Multi-Asset Class Data: Covers equities, ETFs, mutual funds, fixed income, futures, options, forex, metals, and indices, as well as economic and market statistics.
API Capabilities
- Customizable APIs: Developers can use a wide range of API endpoints tailored to specific use cases, such as getting global delayed quotes or real-time stock quotes. The APIs feature customizable test forms and in-line documentation to facilitate integration.
- Unlimited Usage: Xignite’s APIs come with unlimited usage, eliminating the need for complex packages or licensing agreements.
Data Management Solutions
- Data-as-a-Service (DaaS): Provides customers with access to Xignite’s real-time and reference datasets through cloud-based APIs.
- Market Data Management-as-a-Service (MDMaaS): Allows financial companies to integrate their own real-time consolidated feeds and proprietary datasets, helping to manage and distribute market data efficiently.
Technical and Operational Benefits
- Scalability and Performance: Xignite’s platform, powered by YugabyteDB, ensures high performance reads and writes, easy scalability, and flexible upgrades without downtime. This is particularly beneficial for handling large datasets and high traffic.
- Cost-Effective: The solution offers significant cost savings compared to traditional database solutions like SQL Server, with Xignite achieving approximately 50% cost reduction.
Additional Services
- Security Master Data: Provides a central hub of symbology data to manage market data around consistent identifiers.
- Environmental, Social, and Governance (ESG) Data: Offers information on ESG factors for companies.
- Fundamentals and Financial Statements: Includes fundamentals, financial statements, and ratios for global companies.
Integration and Ease of Use
Xignite’s APIs are designed to be easy to integrate, with tools such as .NET and Java SDKs available for developers. The platform also features intuitive test forms and comprehensive documentation to streamline the development process.
In summary, Xignite is a robust platform that provides comprehensive financial market data solutions, ensuring high scalability, performance, and cost efficiency. Its extensive range of APIs and data management services make it an indispensable tool for financial services and fintech companies.