The Scalable Market Data API Provides Real-time Notifications of Market Events Such as Price Movements or Volume Breakouts
Xignite, the leading provider of market data cloud solutions for financial services, today introduced Xignite CloudAlerts—a next-generation market data API that lets fintech developers alert investors and users by automatically notifying them of real-time market events and conditions, such as price movements or volume breakouts.
“Millennials are impatient and expect instant updates,” says Stephane Dubois, CEO and Founder of Xignite. “This means that next generation fintech applications must provide more customized, real-time capabilities to keep them engaged. Doing this today requires a lot of code and processing power, but with Xignite CloudAlerts, you can add this functionality to any robo-advisor, trading, wealth management or research app or platform in minutes and see your customer adoption and satisfaction rocket as result—even if you have millions of them.”
Building a market alert infrastructure for large numbers of users has historically been complex and time-consuming. Not only must fintech platforms manage huge quantities of investor preferences, but they must also reliably handle the processing of millions of exception conditions occurring on massive real-time data streams. Xignite CloudAlerts eliminates all of that. CloudAlerts is a simple zero-footprint REST API that developers can call directly from their web or mobile apps. When an alert triggers, Xignite CloudAlerts calls the fintech application back so that developers can notify users by SMS, email or popping an alert on their screen.
Xignite will offer CloudAlerts APIs for global real-time and delayed quotes for stock, indices, and options, as well as precious metals prices and foreign currency exchange rates. CloudAlerts can be set to trigger on virtually any type of market condition such as price movements, volume triggers, historical level breakouts, etc.
“Xignite CloudAlerts is a perfect demonstration of what is happening with the cloud”, adds Dubois. “It used to be that firms had to do all market data processing in-house and run exorbitant infrastructures as a result—something they can no longer afford. Now, all of this is moving down to the market data cloud layer and is run as a service. In a few years, most market data processing run in large financial institution will have moved to the cloud.”