SAN MATEO, CA - April 20, 2009 - Xignite, Inc., a cloud services provider of on-demand, global financial market data and application components announced today that it has expanded its platform using the Amazon Elastic Compute Cloud (Amazon EC2) and Amazon Simple Storage Service (Amazon S3). Using Amazon Web Services (AWS), Xignite can now process hundreds of millions of customer requests per day and is successfully powering financial data for a number of its customers, including Forbes.com.
Over the past year, Xignite has seen a large increase in the number of companies interested in its financial data delivered via the company's easy-to-integrate on-demand Web services. To meet the requirements of a significantly larger customer base, Xignite sought an infrastructure provider that could effectively and dynamically scale their delivery of real-time financial information with minimal waste of computing and network resources. The cloud computing infrastructure from AWS was a natural fit. Xignite began working with AWS in late 2008 when Forbes.com selected Xignite to deliver the Web site's real-time stock quotes and Xignite needed an infrastructure solution that was both scalable and cost-efficient.
"AWS is a leader in providing redundant computing infrastructure with multiple availability zones and a high level of economies of scale in computing and network bandwidth costs," stated Leo Chan, chief technical officer of Xignite. "AWS was an obvious decision."
Currently, Xignite employs Amazon EC2 and Amazon S3 to power a host of on-demand application servers, which increase or decrease according to bell-curve traffic load, a redundant cluster of load-balancers and cache financial information. Xignite can quickly expand computing infrastructure on AWS to improve scalability and reduce costs when rolling out new services and new clients.
Using AWS, Xignite reduced time-to-market to only two months and saved thousands in personnel costs by eliminating the need for a full-time operations engineer to procure and install servers at an additional collocation space. "We estimate that the overall cost savings including hardware, infrastructure and network bandwidth, and personnel, is estimated to be in the hundreds of thousands of dollars," claims Chan.
Xignite also benefits from AWS's efficient resource utilization which reduces waste. Chan explains, "Capacity is added during peak times and reduced off-peak and there is no need for standby capacity for redundancy. It is highly cost-prohibitive to achieve this with fixed capacity and traditional computing models." Before moving to AWS, Xignite deployed their services on server clusters at a premium collocation facility with higher fixed costs with underutilized capacity.
"Xignite's on-demand delivery model using web services cut our time to market by roughly 35 percent compared with traditional methods of integrating financial data, which was a key factor in our decision because it allowed us to pursue other high value initiatives," said Joe Lesters, CEO of Index Oasis. "We consider Xignite an extension of our own personnel and now think of them exclusively for our market data needs."
"Xignite delivers its customers financial Web services via Web widgets," said Steve Rabuchin, director of developer relations and business development for Amazon Web Services. "We are pleased that the AWS platform of infrastructure services can help Xignite expand its services to better support their customers."
Xignite is the leading cloud services provider of on-demand, global financial market data and application components. The Xignite financial Web Services and mash-up platform helps companies build smarter websites and software applications in minutes with zero investment and cost-effective, subscription pricing. Xignite offers over 50 solutions covering domestic and global equities, commodities, currencies, fixed income and interest rates, company fundamentals, corporate information and more. Xignite solutions power mission-critical applications and financial Web sites for more than 400 global clients, including Forbes.com, kaChing.com, NetSuite, Citi, GE Commercial Finance, ING, Starbucks, Wells Fargo and Wendy's. For more information, visit www.xignite.com or call 1-866-XML-SOAP.
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