infoTECH Feature

November 06, 2013

Xignite To Leverage NASDAQ OMX FinQloud For Data Storage and Elastic Computing

Xignite (News - Alert) Inc. announced that the company will leverage NASDAQ OMX FinQloud for its data storage and elastic computing requirements for powering up the company’s Market Data Cloud Platform. Following the development, Xignite will use FinQloud across all its solutions including financial data APIs, Enterprise Data Distribution and Market Data Distribution.

In a release, Stephane Dubois, Founder and Chief Executive Officer at Xignite, said: “NASDAQ OMX uses the Xignite platform for their NASDAQ Data-on-Demand historical stock quote service, and we have large financial institutions that are using our Market Data Cloud platform to develop private financial data clouds, so the decision to partner with NASDAQ OMX FinQloud was an easy one. We welcome NASDAQ and Amazon's initiative to make cloud computing an increasingly reliable and secure solution that even our largest bank, broker and fund manager customers can trust and rely upon.”

FinQloud, a highly scalable cloud computing platform, powered by Amazon Web Services (News - Alert), is developed specifically for the financial services industry. FinQloud would enable Xignite to leverage an advanced scalable environment for processing, storing and managing large volumes of market data.

Speaking of the development, Julia Sears, Associate Vice President of FinQloud at NASDAQ OMX, said: “It is our mission to continue supporting Xignite as they provide customers the ability to leverage their market data distribution cloud services, further expanding the FinQloud ecosystem. Xignite's move to FinQloud represents a key step forward in transforming how the financial services industry stores and distributes market data from the cloud.”

Xignite offers Market Data Cloud solutions for the financial services sector providing historical, real-time and reference data encompassing all functioning asset classes processing around 6 billion requests in a month. The company’s CloudAPI powers financial websites, mobile apps and middle-office and back-office operations of many leading organizations in the world including some prestigious names such as Investopedia, Wells Fargo (News - Alert), Charles Schwab, Starbucks, Seeking Alpha, Personal Capital, NetSuite and Stockwits. Xignite also provides on-demand-data-distribution for data vendors and financial exchanges.

NASDAQ OMX FinQloud offers a wide range of data storage and computing solutions for efficient and cost-effective processing and storage of financial data. FinQloud helps organizations to reduce the complexities related to infrastructure and data management.

 




Edited by Cassandra Tucker
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