Provider of Market Data Cloud Recognized by Readers of Inside Market Data and Inside Reference Data at 2011 Incisive Media Awards in New York
SAN MATEO, CA - June 2, 2011 - Xignite, Inc., the leading cloud services provider of on-demand market data distribution technologies, announced today that it was nominated for three prestigious awards, securing two wins overall, at the 2011 Incisive Media Awards Banquet. The awards included "Contract Win of the Year" for its work with CME Group on CME DataCloud and "Most Innovative Market Data Project" for its work with NASDAQ OMX on the NASDAQ Data On-Demand project, an honor conveyed to the team at NASDAQ OMX. The XigniteOnDemand platform was also considered in a tight race for the "Best New Data Product" award. Xignite won "Contract Win of the Year," for establishing and fostering the relationship necessary to build and manage CME DataCloud, a new on-demand market data delivery solution that provides all new OTC asset pricing and reference data sets, including OTC Energy and Credit Default Swaps. In the case of the "Most Innovative Market Data Project" award, Xignite partnered with NASDAQ OMX to deliver NASDAQ Data-On-Demand, a cloud-based solution that provides flexible and cost effective access to massive amounts of historical Level 1 tick data. "These awards demonstrate that on-demand cloud-based technology is gaining recognition and acceptance among market data professionals," said Stephane Dubois, President and CEO of Xignite. "We faced formidable competition this year, but Xignite emerged as a clear winner. I look forward to competing again next year." "Hosted by Inside Market Data and Inside Reference Data, these awards recognize industry excellence with market data, reference data and enterprise data management," said Lee Hartt, Publisher at Incisive Media. "Our readers at financial institutions select winners by participating in our survey covering twenty-two separate vendor categories." While cloud computing in general has received much justifiable concern in the financial technology community, these awards validate the belief that market data in particular is uniquely suited to the cloud for three reasons.
- Market data is unconstrained by the privacy concerns of personal data.
- Cloud economies can lower the total cost of ownership of market data infrastructure by up to ninety percent when compared to on-premise solutions.
- Cloud-based development significantly increases business agility and can reduce time to market for new applications by up to ninety percent.