Xignite is in the business of distributing data. Its customers include fintech startups, financial websites and global firms that use Xignite’s data to power products such as trading platforms, stock charts, currency calculators and investment analysis software. With Xignite dependent on distributing data, among the firm’s focuses is ensuring an easy to integrate API for developers.
With regard to distribution of its data, Xignite reported that the firm hit a record of 64 billion API calls served during January. According to Xignite, the performance puts it among the top API cloud providers in the world. It uses Amazon Web Services (AWS) to scale deliver of their data. In addition, based on its current growth which is set to double over the next six months, Xignite believes it may hit one trillion calls served during 2016 compared to 455 billion in 2015.
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Commenting on the performance, Stephane Dubois, CEO and FounderXignite, explained to Finance Magnates that powering its growth has been strong demand from Asian and fintech customers which grew 250% and 150% respectively.
Providing data such as real time and historical prices for currencies, global stock and commodities as well as offering widgets for stock charts and economic calendars, part of Xignite’s strategy is adding new data sets to meet user demand. According to Dubois, future plans of rolling out new data API will be focused on meeting demand from the Asian and fintech growth areas.
Dubois cited the plans to distribute data for Asian exchanges such as Thailand, Malaysia and Indonesia to support demand in Asia. With regard to other products, Dubois stated they had plans to increase “global fund data to support overall wealth management growth” and “global real-time data (vs delayed) to support growth around trading and retail brokerage”.