Enhanced Data Access and Market Transparency for OTC Derivatives
San Mateo, CA — May 4, 2010 —Xignite, Inc., the leading provider of on-demand global financial market data and on-demand data distribution technologies, today announced that CME Group (NASDAQ: CME), the world's leading and most diverse derivatives marketplace and the parent company of CME, CBOT and NYMEX, has selected the XigniteOnDemand platform to support new on-demand over-the-counter (OTC) market data products and services. The new on-demand platform will launch in the third quarter of 2010 and provide a new way for CME Group to distribute OTC data offerings quickly and cost effectively. “With the ongoing development of our multiple OTC product and service offerings, and the need to deliver this data to customers with continued market transparency, the Xignite platform will be a quick and cost-effective way to get OTC pricing and reference data to our global market participants,” said Brian McElligott, Managing Director of Information Products at CME Group. CME Group plans to offer on-demand access to end-of-day OTC settlement, volume and open interest data to support markets available through CME ClearPort®, a set of flexible clearing services open to OTC market participants to substantially mitigate counterparty risk and provide neutral settlement prices across asset classes. CME ClearPort currently clears more than 500,000 contracts daily, including Credit Default Swaps (CDS), energy, metals, agricultural commodities and foreign currencies. The service brings together more than 10,000 global users across the world including banks, hedge funds, trading entities, Inter Dealer Brokers (IDBs), Future Commission Merchants (FCMs), and clearing firms. “Xignite is excited to be working with an innovative industry leader like the CME Group,” said Stephane Dubois, CEO and Founder of Xignite. “Traditional files and feeds no longer solely address the data delivery requirements of the market. Firms need data that is easier to integrate and more cost effective to manage. We look forward to helping CME Group bring those benefits to their clients across their vast market data portfolio.” XigniteOnDemand is a turnkey private label solution designed specifically to help exchanges and other financial marketplaces grow their market data businesses and accelerate product launches. Xignite will use XigniteOnDemand to build and manage high-performance, cloud-based market data Web services for CME Group. XigniteOnDemand will also allow CME Group to market, sell and support its new market data offering entirely online through the CME Group-branded Web site. About Xignite Xignite is the market leader in on-demand financial market data distribution—fulfilling more than three billion Web service requests per month. Xignite directly offers the industry’s broadest online selection of financial Web services covering global stock quotes, stock research and analysis, commodities, currencies, futures, options, fixed income, company financials and market news. More than 700 global clients use Xignite solutions in mission critical applications for the front, back and mid-office, investor relations, e-commerce, wireless apps and financial websites, including Citi, GE, Wells Fargo, ING, BNY Mellon, Forbes.com, SeekingAlpha, ExxonMobil, Starbucks, and Barrick Gold. The XigniteOnDemand platform also powers on-demand market data distribution for global stock exchanges, electronic trading venues, brokers and leading market data providers including the CME Group, BgCantor and Pearson. For more information, please visit http://www.xignite.com or call 1-866-XML-SOAP. About CME Group As the world’s leading and most diverse derivatives marketplace, CME Group (www.cmegroup.com) is where the world comes to manage risk. CME Group exchanges offer the widest range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, weather and real estate. CME Group brings buyers and sellers together through its CME Globex® electronic trading platform and its trading facilities in New York and Chicago. CME Group also operates CME Clearing, one of the largest central counterparty clearing services in the world, which provides clearing and settlement services for exchange-traded contracts, as well as for over-the-counter derivatives transactions through CME ClearPort®. These products and services ensure that businesses everywhere can substantially mitigate counterparty credit risk in both listed and over-the-counter derivatives markets. CME Group is a trademark of CME Group Inc. The Globe logo, CME, Chicago Mercantile Exchange, Globex and E-mini are trademarks of Chicago Mercantile Exchange Inc. CBOT and Chicago Board of Trade are trademarks of the Board of Trade of the City of Chicago, Inc. ClearPort, NYMEX and New York Mercantile Exchange are trademarks of New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. All other trademarks are the property of their respective owners. Further information about CME Group (NASDAQ: CME) and its products can be found at www.cmegroup.com.
Landon Long Xignite Inc. llong [at] xignite.com 1.650.655.3700