One important fact about the cloud is that it can provide established businesses with both new routes to existing markets, and entirely new markets. This is particularly so for any business where its product is important, some might say vital, information.
Just such a business is the FTSE Group, which is not just responsible for the headline performance figures for the UK Stock Exchange, but for a wide range of financial and economic indices for organisations across the globe. Its customers already include Borsa Italiana, Bursa Malaysia, Casablanca Stock Exchange, Cyprus Stock Exchange, JSE, LSE, Nairobi Securities Exchange, NASDAQ Dubai, SGX, Stock Exchange of Thailand and TWSE.
Now the Group has formed a partnership with US-based cloud-delivered market data services provider, Xignite. FTSE data will now be available on Xignite’s Global Indices service.
This exploits Xignite’s new Cloud API to provide index and benchmark data from the likes of Dow Jones, S&P, NASDAQ, NIKKEI and other index families. Now with added FTSE data, this package of indices will be available to web sites, mobile applications, and front-office applications, providing users Index and benchmark data that is essential to the development of next-generation investment and advice platforms.
Xignite joins a small group of vendors licenced to distribute FTSE delayed indices data. It is, however, the only partner solely focused on distribution via the cloud.
By delivering the data through easy-to-use APIs, Xignite enables companies to embed market data into websites, mobile apps and other applications in minutes rather than months, which in turn can reduce market data infrastructure spend.
“We are excited to partner with Xignite to develop a new distribution channel for our index and benchmark data,” said John White, Managing Director of Content Services for FTSE. “Customers are increasingly demanding the availability of a wide and varied range of channels to consume market data, and FTSE remains committed to delivering innovative, best-in-class distribution technologies that meets our clients’ ever evolving needs.”
