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Xignite Supports Financial App Innovation at FinTech Hackathon

Winning Team Built Sentiment App to Predict Equities Performance Using Xignite Market Data APIS

Xignite, Inc., the leading provider of market data cloud Web services and a sponsor of the Fintech Hackathon events, has awarded the prize for best use of Xignite market data APIs to the Equities Sentiment app, developed by Mark Oblad, Founder and CEO of startup Valcu Inc., which is developing algorithmic valuations products, and Blake Ruddock, a Software Engineering Intern at social media startup CO Everywhere.

The team, which met at the hackathon, worked for 24 hours straight to design, code and demo the equities sentiment app that aggregates social media sentiment from Stocktwits and Xignite historical stock data to provide price predictions for US equities. There is a growing movement around using social media sentiment as a guide to monitor stocks and predict performance.

Xignite is a repeat sponsor of the Fintech Hackathon, which brings together developers and designers to develop financial apps aimed at consumers and institutional customers. Xignite makes it market data APIs available free to attendees. Recent Fintech Hackathon apps have included innovations in risk management, trading, big data, retail banking, regulatory compliance, mobile payments and enterprise social.

“Many Xignite clients participate in hackathons and demo events and these programs are a great way for us to identify innovative uses for our market data,” said Cathy Park , Xignite Product Manager. “We empower and support the developer community to build the next generation of financial applications with our easy to use market data APIS.”