Xignite Achieves Record in January, On Pace for One Trillion API Calls in 2016

Xignite is in the business of distributing data. Its customers include Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term 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 Cloud The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing conc The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing conc Read this Term 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.

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".