Xignite, Inc., the cloud services provider of on-demand financial market data and application components announced its work with emerging financial information companies Palantir Technologies, an analytics platform provider, Turing Studios, an iPhone application developer, and StockTwits, a social stock micro-blogging community. These companies represent a new wave of start-ups that are integrating existing application components from Xignite Web services in unique ways to bring solutions to market at a fraction of the time and total cost of ownership of their predecessors.
Traditionally, start-up companies that needed financial market data to build their applications were forced to waste valuable time and resources to obtain data and expend high up-front investment costs that had to be recouped quickly through advertising and end user revenue. Now, entrepreneurs can leverage on-demand market data from Xignite that is affordable, immediately available and scalable for any size Web business. Xignite’s financial Web services provide these companies with the tools to create new service offerings using only a few lines of code, freeing entrepreneurs to focus their energy and creativity on bringing new ideas to market.
“Next-generation financial applications are unable to cope with legacy technology, but Xignite helps these companies get to market in a fraction of the time, while limiting their up-front investment risk,” says Stephane Dubois, CEO, Xignite. “Many start-up founders tell us they could not exist without Xignite financial Web services, yet with our assistance they are paving the way for the rest of the industry to inevitably follow them.”
Palantir Technologies’ Palantir Finance product is an enterprise platform built to enable banks and hedge funds to integrate and analyze all their disparate commercial and proprietary data sources. The platform, which encompasses the entire analysis stack, was built with a focus on security, scalability, ease of use and collaboration, and is a core component of any organization’s intelligence infrastructure. Specifically, Palantir Finance is using Xignite’s historical stock quote Web service for its ease of integration and license terms that permit publishing data to the Web, which enables them to publically demonstrate their platform through a public instance called JoyRide.
D.C.