Xignite, the leading provider of financial market data cloud-based APIs, today introduced CloudStreaming, a web-based solution that streams real-time market data to digital financial applications.
CloudStreaming, based on HTTP open standards, simplifies the process of pushing financial data updates, such as stock quotes and trades, to mobile and web fintech applications, and eliminates the need for costly infrastructure.
REST APIs, which return data requests, have greatly simplified the complexity of integrating market data into fintech apps applications. Xignite currently offers more than 1,000 REST APIs used by fintech innovators including Wealthfront, Betterment, Motif Investing and Robinhood. However, some financial applications require more frequent updates and REST API techniques, such as polling to detect changes, which are not ideal to deliver real-time data. CloudStreaming pushes market data to an app as soon as the data becomes available, enabling developers to integrate the streaming data in their end-applications in minutes.
“We wanted to make streaming as easy as a REST API.” Said Al Chang, Xignite’s Chief Technology Officer. “With CloudStreaming, you can be writing your app today and delivering data to tens of thousands of users in real-time tomorrow. It’s that simple.”
Xignite will offer 10 CloudStreaming web-services that provide global real-time and delayed quotes for stock, indices, and options, as well as precious metals prices and foreign currency exchange rates.
“Building a market data streaming collection and distribution/fanout infrastructure for market data is no small task, especially if you intend to serve tens of thousands of users or more. This is an expensive exercise that can take months and cost hundreds of thousands of dollars, whether you write it from scratch or buy proprietary components and assemble it yourself,” said Stephane Dubois, Xignite FCEO and Founder. “Our clients needed a better alternative and that is CloudStreaming.”