One Company That's Transforming The Market Data Space

The 2016 Benzinga Fintech Awards is the only event in fintech dedicated to recognizing innovation in financial services and capital markets. Ahead of the May 24th awards show and gala, meet the industry leaders who will be in attendance.

In the 1800s, the financial market data industry took the form of carrier pigeons traversing the countryside.

Today it's a lot easier to get that data, which has helped make the market data industry a $27 billion market, according to Burton-Taylor. And that's where companies like Xignite come in.

A leading provider of financial market data via the cloud, Xignite launched their first commercial API (a vehicle for sending and receiving data) more than 10 years ago. In 2016 they're on pace to serve more than one trillion queries this year. For comparison's sake, Alphabet Inc. GOOGL's Google served 1.2 trillion search requests last year.

Xignite sources data from over 150 partners, providing real-time historical and fundamental data to anybody who wants it. 

Stephane DuBois, founder and CEO of Xignite, said the explosion of popularity for data providers can be traced directly to the rise of fintech companies. 

"If you look at the industry, what it used to be is riddled with legacy technologies and infrastructure. And that's how the way banks did it, because banks were the primacy consumer. A lot of the early adopters started using us. For them there’s no legacy. They’re building something from scratch.

"They embraced us before fintech became a popular thing."

DuBois pointed to companies like Betterment, which he said has been a client since 2008.

"Now we’re seeing the large banks knocking at our door saying ‘Hey what are you guys up to? I’ve got to save money and innovate at the same time.’"

Looking Forward To The Benzinga Fintech Awards

DuBois and Xignite are looking forward to Tuesday because, simply, the people they work with and want to work with will be there. 

"It's the most fun we had last year. We did it last year and everybody was there. We had a lot of clients that go there." 

Last year, Xignite clients received 17 nominations and 11 wins.

Want to meet Stephane and other movers and shakers in fintech? Buy a ticket to the Benzinga Fintech Awards today!