Xignite, Inc., the leading provider of market data cloud Web services, today announced that StockTwits is using Xignite on-demand market data to power their free financial communications platform utilized by a community of more than 300,000 registered investors, market professionals and public companies. StockTwits is a social product allowing investors and traders to communicate in real time what they are seeing and what they think might happen - allowing them to share charts, information and predictions' real-time. Stocktwits is available on the Web and via a free mobile app for Apple and Android devices. An Xignite case study on the StockTwits solution is available.
Market participants at all levels rely on financial data and benefit from the exchange of information and ideas, but open communication has long been limited due to the lack of a central location where the financial and investing community could gather. With more than 40 million daily message impressions shared among an audience of 10 million users across the financial web and social media services, StockTwits' financial communications platform addresses this issue. Utilizing their proprietary "Cashtag" metadata tagging system to enable and organize “streams” of information around stocks and markets, StockTwits delivers new forms of insight, ideas and information empowering investors, traders, analysts, media, public companies and others as they research stocks and manage their investments.
“Until the advent of StockTwits, this type of communication was really only available to the guy on the trading desk at a Goldman Sachs, where there is a trading floor with hundreds of people chatting and talking all day long,” says StockTwits Product Director Justin Paterno. “We give the average trader or investor the ability to do that within an entire community of people.”
The StockTwits financial platform is powered by an array of Xignite market data APIs providing real-time, delayed and historical data for equities, funds and other instruments. “We found Xignite’s APIs to be very easy to work with and implement", said Chris Corriveau, CTO of StockTwits. “They offer multiple data formats and adding international market data is a simple and straight forward proposition.”
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