ERP Journal on Ulitzer

Cloud Computing on Ulitzer

Xignite, a cloud services provider of on-demand Web services for professional-grade financial market data and applications, today announced that the company achieved year-over-year expansion with record-breaking growth in 2009. Xignite closed the year by doubling revenue and adding 300 new clients with a marked increase in cloud adoption by mainstream financial services firms. In addition, the company successfully launched Xignite On-Demand, a private label Web services platform for direct online market data distribution by exchanges, electronic trading venues and banks.

“In a year when many companies were forced to cut back, Xignite doubled revenue and added 300 new customers, demonstrating the strong demand for financial market data delivered on the cloud,” said Stephane Dubois, CEO of Xignite. “With the introduction of the XigniteOnDemand private label platform we are looking to share that success by helping exchanges, trading venues, banks and other market data sources expand their distribution channels and increase their value-add through direct on-demand delivery.”

Delivering Financial Web Services On-Demand
2009 marked the release of XigniteOnDemand, the a platform for private-labeled delivery of market data through on-demand Web services and a major industry innovation in the way market data is distributed. By taking advantage of XigniteOnDemand, exchanges, multilateral trading facilities, brokers and other data owners can quickly launch extensions to their own Web sites to start selling their market data as on-demand Web services. With XigniteOnDemand, exchanges can capture greater market share and wider profit margins by selling market data Web services directly to customers. Exchange customers will benefit from the time and cost savings on-demand Web services deliver by eliminating the need for in-house data management.

Considerable Customer Growth
In 2009, Xignite added 300 new clients to the company’s roster of leading financial services firms, Web publishers and corporate brands. Xignite is currently adding a new customer every day. New customers include Seeking Alpha, who selected Xignite to deliver real-time market data to the site's millions of visitors. By leveraging Xignite's financial Web services, Seeking Alpha was able to upgrade from delayed stock quotes to real-time quotes quickly and cost-effectively, bringing the new application to market in a matter of days while eliminating in-house data management costs. Other new customers include Natixis Global Associates, American Century Investments, Flagstar Bank, Apollo Investment Corporation, ZipCar, Oracle, ADP, Wikinvest and StockTwits. Xignite’s data is now consumed by tens of millions of users at 600 companies from 50 countries across the globe.

“The fast paced competition of financial markets puts continuous pressure on IT departments in financial services firms to increase agility and efficiency,” said Joel York, CMO and VP Sales, Xignite. “On-demand delivery of market data saves money and frees up critical IT resources to focus on the highest value applications by eliminating the need to maintain the complex, expensive in-house data management infrastructure that comes with traditional data feeds.”

Expanding Services Portfolio
In addition to the launch of the XigniteOnDemand private label market data distribution platform, Xignite also added six new financial Web services:

• XigniteCorporateActions—Data on demand on key corporate actions such as mergers and acquisitions, stock splits and dividend awards.
• XigniteGlobalRealTime—Makes it easier and more affordable than ever to get real-time stock quotes from securities exchanges around the world.
• XigniteRealTimeOptions—Delivers real-time options data available from the Options Price Reporting Authority (OPRA).
• XigniteBATSRealTime—Provides real-time quotes for the more than 8,000 U.S. equities traded on the BATS Exchange.
• XigniteIndexComponents—Easily access underlying components of key financial market indices.
• XigniteEarningsCalendar—Enables financial services organizations and Web publishers to systematically track and publish future corporate earnings call schedules, live public broadcasts of earnings calls and replays of past calls.