Yugabyte, the leader in open source distributed SQL databases, today announced that market data distribution and management solutions provider Xignite has selected YugabyteDB as its database of choice to power its cloud-native financial data distribution and management solutions. Xignite selected Yugabyte’s distributed SQL database based on YugabyteDB’s high performance, on-demand scalability, and operational ease.
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Xignite provides customers with a scalable way to manage, control and optimize real-time and reference data across traditional systems and cloud applications. It does this through its cloud-native market data platform that unifies financial data consumption and market data management—delivering clients a real-time view of market activity as a service via the cloud. However, serving financial services and fintech customers like Robinhood, SoFi, Investopedia, and BlackRock requires scaling as their data requirements change and grow, while still providing the high availability and high performance they need and expect.
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“When you’re building a leading market data management platform like Xignte, data accuracy and availability are absolutely imperative,” said Karthik Raganathan, CTO and Co-Founder, Yugabyte. “Making sure customers have always-on access to real-time and reference data in a market with high–and continuously growing–volumes, sources, and types of data puts extensive demands on the scalability and performance of a database and the teams that support it. We are thrilled to be a partner to Xignite, eliminating their database pain points and enabling the Xignite team to invest more time and money in building new features for their customers.”
Moving to YugabyteDB has enabled Xignite to scale to more than 11 terabytes of data, unlock new use cases that would not have been possible with the older technology stack, and achieve an overall cost savings of approximately 50% compared to SQL Server.
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