Market data provider helps fintechs bring real-time trading to global consumers

How one company is using Axway Amplify Streams

Around the world, fintechs are empowering consumers to take control of their investments through innovative, mobile-led experiences — allowing the public to trade, manage, and monitor their assets from any connected device. 

For this leading market data provider, the aim is to distribute millions of financial data points to clients located all over the world. APIs are a key enabler of the provider’s offering, as they allow clients to integrate the company’s market data into their own digital products securely and cost-effectively. The company has created hundreds of APIs, offering a wide range of financial information.

Pivoting to real-time services

The company knew that many of its clients and prospects were preparing to launch real-time trading apps that would run on consumers’ smartphones and tablets. To support these clients, the company saw a big opportunity to add real-time market data to its service portfolio. However, requiring end users’ apps to continually poll its APIs for the latest market data would not be cost effective, especially as the number of mobile devices grew from thousands to millions. A different approach was needed.

To lay the foundation for the new real-time data offering, the company decided to enhance its existing API infrastructure with event-driven capabilities that would allow clients to stream data continuously, instead of polling for it. This would provide a highly scalable and cost-effective approach to delivering the real-time data solutions, helping to win market share and accelerate business growth.

Searching for a streaming solution

After reviewing a number of potential solutions, the company quickly ruled out high-frequency streaming systems, as they were not cost effective in the lower-frequency environment of retail trading. The company was also keen to avoid building a solution in-house, as this would divert resources away from its core product development activities.

To bring its real-time streaming concept to life, the company selected Amplify Streams. Built on open standards, Amplify Streams allows the company to transform some of its most popular APIs into real-time event streams, without requiring significant effort from its in-house development team. 

Crucially, apps developed by the provider’s clients can consume these streaming events at scale without costly compute or networking overheads. Instead of having to respond to an endless series of poll requests, the provider only needs to send data to endpoints when something changes, such as the price of a stock on a specific exchange. 

Realizing the benefits

For lean fintechs, low costs are a key advantage. By keeping total cost of ownership to a minimum with Amplify Streams, the provider allows its customers to redirect investment into developing their own services — promoting a virtuous cycle of higher user satisfaction, higher customer acquisition rates, and increased revenues for both the provider  and its customers.

Another powerful advantage of Amplify Streams is that the solution empowers the company to onboard existing clients to the new real-time services quickly and with minimal manual effort. By cutting time-to-market  for its clients, the company can promote enhanced satisfaction and build long-term partnerships.

Thanks to the Axway solution, the company can help its customers bring compelling real-time online and mobile trading experiences to consumers. Amplify Streams can scale effortlessly from thousands to millions of end users, facilitating rapid business growth.

In the years ahead, the market data provider plans to work closely with Axway to build on its streaming data solution. For example, the two companies aim to find opportunities for further operational cost reductions, enabling the provider to maintain highly competitive pricing for clients while also safeguarding its own profitability.

A spokesperson for the market data provider concludes: “With an event-driven architecture enabled by Amplify Streams, we can make it fast, simple and cost-effective for fintechs around the world to bring real-time market data into their products. Axway is a crucial partner to our business — and we’re proud to be working with Axway at the cutting edge of the retail trading industry.

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