Xignite has launched a suite of Enterprise Microservices to help financial institutions migrate their market data management services to the cloud.
The cloud market data management services are designed to help firms improve how they store, distribute, manage, and control market and financial data.
Microservices can be used as separate functional units, rather than monolithic platforms that require on-premise servers. The independently deployable components can work together or separately, depending on the company’s individual needs.
The Xignite Enterprise Microservices run on Xignite’s cloud-based architecture, which financial institutions can now leverage for their own data.
The suite of solutions contains seven microservices targeted to buy-side, sell-side, and fintech companies, as well as exchanges.
The seven microservices are: Xignite Data Lake, Xignite Optimization, Xignite Entitlements and Usage, Xignite Reference, Xignite Historical, Xignite Real-Time, and Xignite Fundamentals.
Of the seven services, Xignite Data Lake Microservice centralises existing data and enables financial services firms to provide easy access to the data via highly scalable cloud application programming interfaces (APIs).
Xignite Optimization Microservice facilitates control of large reference data sets through caching, entitlements, analytics and reporting.
Xignite Entitlements and Usage Microservice allows firms to have transparent data consumption and usage, by providing reports of data usage across data sets, users, and applications to ensure vendor compliance.
Meanwhile, Xignite Reference Microservice aggregates, normalises, stores, and indexes reference data into a centralised repository and access layer.
Xignite Historical Microservice captures historical data from different sources and integrates with corporate actions data via highly scalable cloud APIs.
Xignite Real-Time Microservice distributes real-time data internally and externally via highly scalable and flexible cloud APIs.
Finally, Xignite Fundamentals Microservice captures simple and complex time-series data structures associated with an entity through cloud APIs.
NICE Actimize, provider of financial crime management solutions, is the first user of the new Real-time Microservice solution to onboard and manage multi-asset class co-located feeds from several different sources.
Stephane Dubois, founder and CEO of Xignite, commented: “We are incredibly excited to launch Xignite Enterprise Microservices, which we believe will truly revolutionise market data management.”
“The culmination of over 10 years of nonstop innovation, we have taken the cloud-native architecture that has powered some of world’s most prominent fintechs and scaled it to meet the unique requirements of institutional players that consume huge amounts of data but often have no way of integrating and optimising it in an efficient and cost-effective way.”
Dubois added: “We are the only vendor offering a suite of market data management microservices that clients can mix and match to create a comprehensive, infinitely scalable cloud-based solution that meets their exact needs. We firmly believe that offerings like these are the future of market data, and we are thrilled to once again take a leading role in the financial services industry’s continued digital transformation.”
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