Xignite, Inc., the leading cloud services provider of on-demand global financial market data and application components, today announced the release of XigniteGlobalRealTime, a new Web service that makes it easier and more affordable than ever to get real-time stock quotes from securities exchanges around the world.
Developers of applications and Web sites face many challenges when powering their applications with real-time Level I stock quotes. They often must obtain leased lines, collocated data center services and expensive hardware and software. Development and integration typically take many months of work.
XigniteGlobalRealTime is the first Web service to offer global access to real-time quotes from stock exchanges around the world. With the launch of Xignite’s new Web service, real-time stock quotes from global exchanges are now available over the Internet, significantly expanding the availability of real-time stock quotes to a truly global marketplace.
Real-time stock quotes are also now more widely available to a new market of smaller companies and departments. By eliminating data management costs and providing usage-based pricing, Xignite has made real-time global stock market data available to a much broader audience than could previously have afforded it.
Developers of software applications and Web sites can now eliminate the cost of expensive on-site data management. Developers no longer need expensive hardware and software to handle the large quantities of data coming from stock exchange data feeds. Instead, they can now use the application-ready operations in XigniteGlobalRealTime to get only the data they need at the moment they need it.
In addition to cutting data management costs, developers can further reduce the cost of real-time global stock quotes with XigniteGlobalRealTime’s usage-based pricing, which requires paying only for the amount of data received. Organizations that might not have been able to justify the cost of licensing a traditional data feed can now get affordable access to more modest amounts of real-time stock data on a budget that reflects their lower usage rates.
“For us, it’s all about making more data available for more applications,” said Stephane Dubois, CEO, Xignite. “Global real-time quotes are no longer confined to institutional investors with specialized terminals. Now developers can deliver global real-time quotes to small investors over mobile applications, Web sites or portals.”
Mr. Dubois goes on to say, “Web services are a great field-leveler. Small companies or developers that can’t afford a real-time data feed can easily get real-time quotes through XigniteGlobalRealTime and compete toe-to-toe with much bigger players. And the same is true for exchanges. With XigniteGlobalRealTime, a stock exchange in Stockholm can now reach a much larger, global market for their real-time data.”
ProInvestor, a Danish company providing a global community for investors, provides a case in point. The company is currently using XigniteGlobalRealTime to expand the reach of its investment portal Web site to include real-time stock quotes from exchanges in Denmark, US, Sweden and soon to follow Norway and England. ProInvestor also plans to launch a new iPhone application in December which will be the first with US, Danish and Swedish real-time stock quotes.
“Our members are investors who trade many times each day,” explains Peter Hildebrandt, CEO for ProInvestor. “For them, the difference between real-time quotes and delayed quotes can mean the difference between profit and loss. But the service from Xignite holds an even greater advantage for us as we embark to find franchise partners for our community. Xignite lets us provide data from around the world to our local franchise partners thus giving ProInvestor the ability to become truly global, by forging strong local partnerships. Because at the end of the day the majority of Danes trade Danish stocks, and the same is true for Americans, Swedes and the rest of the world. Xignite enables Proinvestor.com to deliver a global service directly to the local retail investor and we believe this is a key factor for our success.”
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