Xignite Selects YugabyteDB To Power Its Cloud-Native Market Data Solutions

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  • It added that Xignite selected Yugabyte’s distributed SQL database based on YugabyteDB’s high performance, on-demand scalability, and operational ease
  • Xignite said that as it’s business grows, so does the amount and granularity of data, creating the need to quickly scale the database tier

Yugabyte has 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. It added that Xignite selected Yugabyte’s distributed SQL database based on YugabyteDB’s high performance, on-demand scalability, and operational ease.

Dr. Qin Yu, VP of Engineering, Xignite said, “Due to the nature of our business, performance and scalability are the two most important factors we look for in a database solution. Financial data is ever-changing and we need to capitalise on that data to give our customers the most accurate, real-time view of the markets. The performance and scalability of YugabyteDB allows us to provide granular data in real-time to our high-profile clientele, combined with the Yugabyte Platform, which greatly simplifies operations and management. In addition, we have come to rely on the Yugabyte as key partners, providing us with a best-in-class distributed SQL platform and support.”

Cloud-native market data platform

Xignite provides customers with a scalable way to manage, control and optimise real-time and reference data across traditional systems and cloud applications. It said that it does this through its cloud-native market data platform that unifies financial data consumption and market data management.

Karthik Raganathan, CTO and co-founder, Yugabyte said, “When you’re building a leading market data management platform like Xignte, data accuracy and availability are absolutely imperative. 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.”

Xignite said that as it’s business grows, so does the amount and granularity of data, creating the need to quickly scale the database tier. It adds that scaling Microsoft SQL Server on AWS with Amazon RDS was very challenging, requiring manual partitioning of data at the application layer, which was time consuming and increased complexity.

It added, “After trying MySQL and considering NoSQL solutions, Xiginite turned to Yugabyte to address its need for a database provider that could easily scale on demand, future proofing the company for continued growth. Yugabyte has seamlessly handled Xignite’s performance requirements for both reads and writes, and enabled the company to add capacity and scale quickly, with operational ease and no downtime.”

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