Xignite, Inc., the cloud services provider of on-demand global financial market data and application components, releases XigniteOnDemand, the industry’s first platform for private-labeled delivery of market data through on-demand web services, marking a major industry innovation in the way market data is distributed.
By taking advantage of XigniteOnDemand, exchanges, multilateral trading facilities, brokers and other data owners can quickly launch extensions to their own websites to start selling their market data as on-demand web services. With XigniteOnDemand, exchanges can capture greater market share and wider profit margins by selling market data web services directly to customers. Exchange customers will benefit from the time and cost savings on-demand web services deliver by eliminating the need for in-house data management.
With XigniteOnDemand, exchanges and data owners can easily launch their own private-labeled on-demand web services, eliminating the years of development time it would take to build the same technology internally. Benefits of XigniteOnDemand include:
Private-Label Branding Exchanges leverage their brand recognition and further build their brands using XigniteOnDemand. Customers see value in going to the original source for their market data. XigniteOnDemand provides a private-labeled website for exchanges to leverage their brand recognition and credibility when selling directly to customers. Exchanges also benefit from greater brand exposure by selling their market data further downstream to a larger segment of customers.
Reach New Markets On-demand data delivery lets exchanges offer “pay-for-use” pricing. Previously, potential customers for market data were confined to large organizations with the budget and appetite for significant infrastructure spend. With XigniteOnDemand, exchanges can sell data to the largely untapped market of organizations who want to purchase only the data they need to use when they need it.
Reduce Time to Market Exchanges can now offer new market data products to their customers in weeks instead of months with a direct, on-demand offering rather than waiting for distributors to integrate the new data into their own products. Direct on-demand distribution also lowers the barriers to adoption and increases profit margins.
Increase Transparency XigniteOnDemand makes data widely and easily available in minutes at a time when regulators, professionals and investors are demanding increased transparency in the financial sector. The complexity and costs of legacy distribution platforms hinder the ability of exchanges to provide this level of instant visibility.
Customers of exchanges and data owners using XigniteOnDemand also benefit significantly from reduced time, cost, and complexity when powering their applications with live market data. Unlike traditional means of delivery, such as flats files and data feeds, web services created with XigniteOnDemand provide market data that is application-ready, requiring no additional data management. Organizations using on-demand web services can build their applications to retrieve exactly the market data they need at the moment when they need it without housing large volumes of data internally. Customers of on-demand web services forgo the time and expense of building and maintaining the databases, servers, networking equipment and other hardware and software infrastructure needed to manage market data internally.
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