Xignite and SIX announced they are 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. The combined set up is expected to modernize how firms store, distribute, manage, and control market data in the cloud, at a time when large financial institutions and fintechs are increasingly moving in that direction.
Xignite’s 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.
Stephane Dubois, CEO and founder of Xignite, said in a statement: “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. We had the enterprise technology but not the coverage, so partnering with SIX made sense.”
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.
John McManus, head Sales in the Financial Information division of SIX, said in a statement clients can have “streamlined access to the highest quality data without a complicated acquisition process, burdensome integration or costly development.”