Xignite customers will have API access to real-time quote data for all U.S. exchange-listed equities.
Xignite, a provider of market data from the Cloud, has integrated Nasdaq Basic market data to provide real-time Best Bid and Offer (QBBO) and Last Sale information for all U.S. Exchange listed stocks.
Xignite fintech customers will have API access to real-time quote data for all U.S. exchange-listed equities at what it calls a "significantly lower cost."
Nasdaq Basic provides real-time data for all U.S. exchange-listed securities based on liquidity within the Nasdaq market center, as well as trades reported to the FINRA/Nasdaq Trade Reporting Facility. Xignite enhanced its existing APIs to support this functionality.
“A lot of the feed and fee structures for equity market data in the U.S. markets were designed in the 1990’s when 99 percent of real-time data was delivered to professionals via terminals,” said Stephane Dubois, CEO and founder of Xignite, in a press statement.
He continued, “Times have changed. Real-time market data is now consumed by pros and individuals alike on billions of devices worldwide. Old models do not fit the needs of those users. Nasdaq has taken an innovative approach to making its data easier and more affordable to integrate and consume inside the next generation of fintech applications. It only made sense to provide this data on our cloud platform.”
Nasdaq and Xignite will host a FinTech Meetup on August 27 in New York to announce more details about the joint venture.