12.21.2011
By Terry Flanagan

Bond Data Lifted Onto Cloud

Xignite launches data on-demand capability.

The cloud computing paradigm is being applied to delivery of market data, changing the economics of how they obtain data.

Xignite, a global market data cloud, is providing bond data on-demand via the cloud, which will allow financial services professionals to adapt strategies to the volatile market on-the-fly.

“Firms will be able to access a wider universe of OTC and exchange traded Bond data without having to commit to a specific universe beforehand,”  Rajesh Razdan, director of product marketing at Xignite, told Markets Media.

“Also, Xignite pay-per-data-used model will ensure firms get charged only for data they use, and not for data universe they have access to. This changes the economics of market data acquisition,” he said.

Xignite partners with various exchanges, data vendors and get certain data directly from  sources. “Xignite adds value by enabling users to request data piece meal and creating custom composites from multiple data services,” said Razdan.

Xignite’s bond data cloud offerings include bond security master product for US bonds, price data for Finra TRACE reportable and exchange traded bonds, security master detail for European and Asian corporate bonds, and real-time price data for Finra TRACE reportable and exchange-traded bonds.

Xignite is the leading financial market data cloud provider, offering more than 50 financial cloud APIs and fulfilling more than five billion service requests per month for real-time, historical and reference data covering global equities, commodities, currencies, options, fixed income, mutual funds, derivatives and OTC instruments.

Cloud technology is being adapted to the unique needs of the financial sector. Data is the key input in almost every financial process and the biggest challenge financial sector faces is dealing with the explosion of data in recent years.

“ Investment managers, traders, risk and compliance staff all desire access to a large data universe but their firms struggle to keep up with on-going demands of petabyte-era constant capacity expansion of IT infrastructure to process, store and disseminate this data to various applications and processes,” said Razdan.

The financial sector is also uniquely focused on fast, immediate access to data as soon as it is available,  introducing the need for low latency model for data ingestion and distribution on the cloud infrastructure. Additionally, the sector has always set a high bar regarding stability and security of the IT infrastructure that supports their processes.

Key to Xignite’s offering is the ‘on-demand’ aspect of the platform .  Applications can request  data on an as-needed basis model, whereby only a subset of data that’s required by the application or process at a particular time can be requested and immediately made available through web services.

“For firms that do need large datasets the platform provides mass data delivery directly into cloud storage dropboxes such as Amazon S3,  thus enabling firms to take advantage of cloud computing in a holistic  manner,” Razdan said.

Various exchanges are building their cloud data offerings directly on Xignite platform, thus removing latencies that are associated with tradition data redistribution architectures.

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