Xignite Joins Snowflake Data Exchange as First Market Data Vendor
Will Provide Easy Access to Stock Price Data Dynamically from Enterprise Data Lakes
Xignite, Inc. announced they have joined the Snowflake Data Exchange, a newly created data marketplace developed by Snowflake, the data warehouse built for the cloud. Xignite will provide end-of-day and historical equities pricing data, as well as currency exchange rates data to the marketplace.
The Snowflake Data Exchange is a free-to-join marketplace that enables Snowflake customers to connect with data providers to seamlessly discover, access and generate insights from their data. Unlike traditional data transfer done via APIs or extracting data to cloud storage, the Data Exchange improves control and security related to exchanging data and makes the integration and query of data seamless and dynamic. The Data Exchange is currently available in private preview, with public preview set to launch later this year.
“Financial data is one of the most-requested types of data by our customers. Legacy approaches to delivering financial data involve on-premises equipment and decades-old APIs that introduce significant friction and barriers to getting the most out of this type of data not to mention the additional risks to security with this method,” Snowflake VP of Data Sharing, Justin Langseth said. “We are excited that Xignite is providing rich financial data sets via the Snowflake Data Exchange, enabling Snowflake users to discover, access, and leverage that data in a much simpler, faster, and less costly way.”
“One of the industry’s biggest pains is the fact that non-cloud architectures force firms to replicate data storage before they can use it, which is very expensive and complex to manage. The Data Exchange enables Xignite to deliver Snowflake customers real-time access to our financial data to power their data driven applications without ever having to replicate information,” said Stephane Dubois, CEO and Founder, Xignite. “Providing customers with easy access to financial data has always been the mission of Xignite. And providing direct access to our data from a major cloud analytical platform like SnowFlake is a huge and innovative milestone in that direction.”