The LSE Directory / Data providers
Xignite is a San Mateo, California based provider of cloud native financial market data APIs. Its catalogue spans more than 500 REST endpoints covering real time, delayed, historical, fundamental and reference data across equities, ETFs, mutual funds, foreign exchange, futures and options, indices and benchmarks, fixed income, corporate fundamentals, and earnings and news. The underlying data is aggregated from more than 150 sourcing providers, including FactSet and Morningstar, blended with Xignite's own curated datasets, and the entire platform runs on Amazon Web Services rather than on-premises infrastructure. Xignite's differentiation within the market data vendor category is twofold. First, it was built natively for the public cloud from the outset, positioning itself as the first market data platform to run entirely on AWS and holding AWS Advanced Technology Partner status with a Financial Services Competency. Second, its commercial model departs from the industry norm of per call or per feed metering: Xignite prices subscriptions as unlimited usage by asset class, call frequency and region. Its customer base splits between fintech developers who consume the APIs directly to power consumer facing apps, and data teams (CDOs, CIOs, CTOs) at brokerages and wealth managers who use its market data management tooling. The company was founded in 2006 by Stephane Dubois, a former VP of product management at Advent Software, who set out to build a wealth management platform, hit licensing restrictions from legacy data vendors, and pivoted into building market data APIs instead; Xignite describes the result as the industry's first financial Data as a Service offering delivered from the AWS public cloud that year. Per Tracxn, the company raised roughly 37 million dollars across four rounds between a 2009 seed and a 2016 Series C. Its site cites customers including Robinhood, Betterment, Personal Capital, Stocktwits, SoFi and Forbes, and states the platform handles on the order of 12 billion API requests per day. On February 16, 2023, Xignite was acquired by QUODD Financial Information Services, a NewSpring Holdings portfolio company, for undisclosed terms; DC Advisory advised Xignite on the deal. Since the acquisition Xignite trades as "Xignite, A QUODD Solution." Its API catalogue has been folded into QUODD's own QUODD Marketplace and QX Digital Platform products, and QUODD states the combined client roster now exceeds 2,200 organizations, ranging from large banks and wealth management platforms to smaller fintech firms that originally built on Xignite's APIs.
