Xignite: Maitre d' of Information to the Financial Industry

Garrett Wilkin
Jun. 15 2011, 12:00AM EDT

Waiters like to work in pricey restaurants serving wealthy patrons because they are able to pay for high class service.  That's also why you see so many professionals in the banking industry: it pays to work for people with money. Xignite took note of this and decided to become the Maitre'd of information to the financial industry.  With more than 3.5 Billion calls per month to its Xignite APIs, it is doing a fine job of it, as well.

Xignite is a pure play in the API space.  It earns all revenue through API usage.  This sets it apart from many other companies who have added APIs as an afterthought or as an effort to stay current and relevant in these fast changing times.  Xignite does not run another business line.  It's all about APIs!

The list of data sources that Xignite serves to its customers through API access is just staggering.  In a sense, Xignite is building a data source portfolio.  In it's list of data sources you'll from everything from NASDAQ, to Thomson Reuters, to the State Bank of Pakistan.  Xignite wants to be your consultant in selling financial data to application developers.  It's focus on APIs allows it to develop economies of scale in data storage and retrieval for extremely large data sets.

Business is going so well for Xignite that it saw fit to hire an extremely well-credentialed Google engineer to help them scale.  I guess you could say they are getting pretty serious.  You certainly need top professionals on your team in order to keep the trust of the financial industry.  Those bankers and brokers tend  to be particular about details, accuracy, and availability.

Check out more in our list of 43 Xignite APIs.

Garrett Wilkin

Comments

Comments(1)

User HTML

  • Allowed HTML tags: <a> <em> <strong> <cite> <blockquote> <code> <ul> <ol> <li> <dl> <dt> <dd>
  • Lines and paragraphs break automatically.
  • Web page addresses and e-mail addresses turn into links automatically.

[...] with the new Zacks Financial API. What’s interesting is that the Xignite APIs, which we called maitre d&#8217; of financial data, lists Zacks as a data source. So, it seems that Zacks has decided to see just how well it can play [...]