BGCantor Market Data Launches Web Solution Supported by Xignite
February 2, 2010
BGCantor Market Data, a provider of fixed income, credit and derivatives market data, said today it is now offering its data directly to customers through BGCantor On-Demand, a new financial web services solution powered by the XigniteOnDemand platform from Xignite, a cloud services provider of on-demand financial market data and web services.
BGCantor On-Demand is designed to provide a wide range of fixed income and derivatives data, including benchmark Treasury, fixed income, foreign exchange, emissions, futures and credit derivatives data.
Web services allow market data providers deliver market data on an on-demand basis, providing only the data that is needed in real-time just when it is needed, according to the company.
"Our customers depend on us to deliver the data they need, when they need it and using an innovative technology like web services we can provide even more flexibility,” said Bernie Weinstein, executive managing director and head of BGCantor Market Data, subsidiary of BGC Partners. “Xignite has provided a turnkey solution, which is quick and easy to implement, enabling us to respond efficiently to our customers' demands."
For Xignite, BGCantor On-Demand represents the first public release of a private label market data offering built entirely on top of the XigniteOnDemand platform.
"[BGCantorMarketData] is the first company in its space to fully leverage Xignite's on-demand web services for its customers,” said Stephane Dubois, CEO, Xignite. "For Xignite, our relationship with BGCantor is a major milestone in the development of our own private label solution for market data providers."
With the launch of BGCantor On-Demand, BGCantor said it plans to open new channels for distributing their data while aiming to provide more value for their existing customers. BGCantor plans to use BGCantor On-Demand to provide an affordable solution to middle office asset managers and portfolio managers who require timely market data but do not require a full data feed.
Front office customers will be able to augment their existing data feeds with additional data they may not get otherwise by taking advantage of BGCantor On-Demand's flexible usage-based pricing, the company noted.
