Financial market data provider Quodd acquires Xignite
Financial market data provider Quodd has acquired California-based Xignite, which offers market data API solutions, for an undisclosed sum.
Quodd provides banks, broker dealers, insurance companies and fintechs the ability to stream, embed, look up or download pricing data for global equities, fixed income, indices, options, futures and end-of-day pricing for global mutual funds.
The acquisition bolsters Quodd’s cloud-native market data solutions platform Fuel, which will integrate Xignite’s content catalogue, including data from more than 150 sources and 500 API end points.
Quodd also hopes the deal will boost its digital platform Universe+, which offers clients various data types, asset classes and global coverage based on their specific end-user’s workflows.
Stephane Dubois, CEO of Xignite, says: “There is an ever-increasing demand from financial institutions for alternative cloud-based market data solutions able to power their wealth and asset management servicing platforms.”
The combined business will serve more than 2,200 companies, ranging from large banks and wealth management platforms to firms building products for digital investors.