Cloud-based data supplier Xignite is to provide fintech startups with low-cost API access to real-time market data quotes from Nasdaq.
The feed will pump real-time Best Bid and Offer (QBBO) and Last Sale information for all US Exchange listed stocks to third party apps and Websites.
Xignite's client roster includes more than 1000 financial services, media and software companies from disruptive fintech firms, such as Betterment, FutureAdvisor, Motif Investing, Personal Capital, Robinhood, StockTwits, Wealthfront and Yodlee.
Stephane Dubois, CEO and Founder of Xignite says a lot of the feed and fee structures for equity market data in the US markets were designed in the 1990’s when 99% of real-time data was delivered to professionals via terminals.
“Times have changed," he says. "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.”
He says the firm will co-host a fintech meetup with Nasdaq in late-August in New York, when more information about pricing structures and access arrangements will be forthcoming.