Industry Insights

One of the main areas QUODD has focused on in the past few years is addressing how firms can better serve their middle-and-back office employees with access to vital market data. Those workers don’t always need (or want) the bells and whistles that come with the offerings from legacy providers. But what they do need and want is modern tools that can keep up with today’s demands

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REST APIs have come a long way in the last 15 years. It used to be that given their inherent latency, use cases were limited to simple display on websites and other applications. As a result, the first generation of APIs only displayed timestamps down to a second-level precision.

A recent analysis from The Everest Group cited in American Banker highlights how shoring up risk management practices has risen to the top of the priority list for bank execs, noting that banks will increase their annual spend on risk technology by 8%-to-12% in the next 12 months. In short, banks understand they need to improve their risk management practices across business lines and functions and are actively making technology-driven efforts to address them.

Editor Max Bowie interviewed Bob Ward, CEO of QUODD and Jim Ashton, General Partner, NewSpring Holdings on QUODD’s recent acquisition of Xignite. Bob and Jim shared QUODD’s vision of leveraging our proprietary technology to become the premier cloud-based global financial market data and content provider with the best customer service and lowest amount of friction.

The acquisition of Xignite adds more than 500 market data APIs, covering millions of instruments across all asset classes, and elevates QUODD’s position as the premier technology firm powering global market data to the financial services ecosystem

The combination of technology costs rising and margins shrinking throughout the financial services industry benefitted QUODD greatly in 2022 as we continued to position ourselves as a cloud-first market data provider that is consistently changing with the way information is consumed in this era of on-demand digital services.

The next generation of the back office is going to force the hand of many organizations that have clung to legacy systems, especially when it comes to how these firms access, consume and share market data. The fact is that people remain at the core of the success of any business, financial services notwithstanding. To ignore the realities of what the modern employee now requires to be successful in your organization is to ignore them at your own peril potentially.