2007 March Vol. 1
|The World's Largest Source Of Financial Web Services|
SpotlightIn today’s global financial markets, there are more opportunities than ever for companies to access the international capital markets and for investors to find good investments overseas. Xignite understands this growing investment needs, and is proud to announce our new product, XigniteGlobalHistorical. This event marks a milestone in our efforts to expand the breadth of our global product offerings. It is also the first time that global market prices information is available on an open web service platform.
XigniteGlobalHistorical provides historical closing prices for thousands of companies listed on 50 major stock exchanges around the world. Some of the major exchanges covered by this product are London Stock Exchange, Tokyo Stock Exchange, Frankfurt Stock Exchange, Toronto Stock Exchange, Milan Stock Exchange, Singapore Stock Exchange and Shanghai Stock Exchange. In addition to historical closing prices, XigniteGlobalHistorical also provides dividends, stock splits, and corporate actions reported by companies. To check out this new offering, please visit the XigniteGlobalHistorical product page on our website.
For questions and comments, please write to Xignite at firstname.lastname@example.org
Client Focus9Ware is an upstart technology company which provides financial and logistics management solutions for the petroleum distribution industry in the US. Because 9Ware is a forerunner in adopting new technologies, it helped its biggest client automate and manage complex operational logistics and financial challenges posed by its expansions and growth.
This client is a major petroleum distributor which currently provides fuel to more than 200 gas stations in the mid-Atlantic region. Its daily operations involve purchasing gasoline and diesel fuel from major oil refiners such as Chevron and Shell, and distributing it to gas stations. Because energy prices can be very volatile, fuel prices are determined on a daily basis for next day supplies. 9Ware’s client was faced with several major challenges in pricing daily fuel prices correctly and timely. First, there are 100-plus different base rates, such as supplier’s rack rates and NYMEX energy futures prices, used in the pricing formulas, and getting those daily rates from different sources into the system is no simple task. Second, there is a relatively short time window from getting the daily closing prices used for the base rates to publishing delivered rates to customers the same evening. Third, since contracts are negotiated independently with each supplier and customer, every contract will have a different pricing formula for base rates, markups/markdowns, and freight stipulations. Consequently, the higher the number of suppliers and customers, the more fuel price calculations this client will need to manage everyday.
When 9Ware’s client acquired more than 150 gas stations in 2004, the rapid expansion put to test the limits of an old pricing process that was built on a Legacy system. The old process involved many time consuming and manual tasks, such as manually entering the base rates obtained from suppliers’ websites and other industry data providers, and manually generating pricing emails to send to customers.
To solve its client’s problem, 9Ware first built logic in the pricing applications to automatically pull base rates from various data providers. For supplier’s rack rates, 9Ware primarily sources the data from DTN Energy and OPIS. And for energy futures traded on NYMEX, 9Ware pulls the data from Xignite. Since price feeds from DTN and OPIS are bulk data and require proprietary systems, 9Ware needed to write extensive programming logic in order to integrate those feeds. On the other hand, the energy futures prices provided by Xignite were extremely easy for 9Ware to integrate.
With 9Ware solutions powered by Xignite, 9Ware’s client can now easily manage the entire process of calculating daily fuel prices accurately and publish them on time for customers to adjust the prices at the gas pumps before 12 midnight everyday.
Top ReadsThe Future of SaaS, and What Puts ThinkFree Ahead of Google
The Hartford Moves Forward with SOA
Can your Enterprise See, and Mashup, the Emerging Web?
AJAX + SOA: The Next Killer App
The war for Ajax developers
New Eclipse IDE Eases Open Source SOA
Knowledge Tree DMS Adds Web 2.0 Collaboration
Career SectionWeb services will rule the world in the near future. It will be an exhilarating experience to be an integral part of it.
If you are a master of your own trade, looking for an early startup to sweat into an apparent overnight success, Xignite is for you! We are a small but thriving company full of smart and motivated people. We work hard and are passionate about changing the life of our clients and making the delivery of web services the business model of the future.
For more information on Careers at Xignite click here.
What's newNew Products
Xignite is partnering with Econoday to bring you two new products this month, XigniteCalendar and XigniteOutlook.
XigniteCalendar provides economic calendars for the U.S., Australia, Canada, EU, France, Germany, Great Britain, Italy, and Japan. With this product, you can easily keep track of upcoming events and announcements. For example, the US calendar allows you to track important dates such as the Federal Open Market Committee meeting and auctions for US Treasury Notes and Bills, and scheduled economic announcements for GDP, CPI, PPI, Consumer Sentiment, New Home Sales, Retail Sales, Durable Goods Order, Productivity and Cost, etc.
Here is a recap of XigniteOutlook from the last newsletter: The new product provides abstracts and summary of U.S. financial market news, and is well suited for businesses that need to stay abreast of major U.S. market news and events. XigniteOutlook is comprised of four components: Market Reflections, Market Focus, Who’s Speaking, and FYI Alerts. The following is a dynamic sample of Market Reflections for the previous trading day:
Market Reflections for 5/11/2007Friday's data cooled the economic outlook if not the stock market, showing declines in April retail sales and an unchanged reading in core inflation at the producer level. A 0.2 percent decline in retail sales for a paltry year-on-year pace of 3.2 percent couldn't slow the stock market down where the Dow industrials rose 0.8 percent and the Nasdaq composite gained 1.1 percent.
And the soft retail data, not to mention friendly producer price data, couldn't fire up Treasuries where yields rose 3 to 4 basis points. The day's economic data weren't dramatic or significant enough to pull forward expectations of a Federal Reserve rate cut, making the reaction in the bond market especially puzzling. Some noted that yesterday's weak chain-store reports, which did trigger weakness in Treasuries, in fact signaled today's results. The yield on the 2-year Treasury note ended at 4.71 percent with the 10-year at 4.68 percent. But the weak data did send the dollar lower, down not quite a 1/2 cent to $1.3527 against the euro and not quite a 1/4 yen to Y120.17.
Oil firmed about 75 cents to $62.51 for West Texas Intermediate, while gold recovered about $5 of Thursday's $15 loss, ending at $672.30.
Stay tuned for the next newsletter, there are many more upcoming services. If there is anything else you need that you don’t find on our website, don’t hesitate to email us. What you tell us helps us identify and prioritize new developments.
Developer CornerAdding XigniteOutlook To Your Site
The section above shows you a sample of dynamic Market Reflections content obtained from XigniteOutlook. Adding this to your web site is straightforward. Here is a sample in VB.Net:
' create an instance of the service
' RemoteOutlook is the web reference to the service
Dim objService As New RemoteOutlook.XigniteOutlook()
' pass authentication parameters
Dim objHeader As New RemoteOutlook.Header()
objHeader.Username = "yourusername"
' call the service asking for yesterday's market reflection
Dim objOutlooks() As RemoteOutlook.Outlook = objService.GetYesterdaysOutlook
' this string object will contain the content
Dim objSb As New System.Text.StringBuilder()
' make sure we received data
If objOutlooks(0).Outcome = RemoteOutlook.OutcomeTypes.Success Then
' loop through all the possible objects
Dim objOutlook As RemoteOutlook.Outlook
For Each objOutlook In objOutlooks
.Append("<p><b>Market Reflections for ")
' assign the data to a cell
Objcell.Text = .ToString
News & EventsBest Practices For Business Process Management With SOA To Maximize ROI
San Francisco: Wednesday, April 11, 2007
Los Angeles: Thursday, April 12, 2007
Atlanta: Tuesday, April 17, 2007
Dallas: Thursday, April 19, 2007
Boston: Wednesday, April 26, 2007
Web 2.0 Expo
April 15 – 18, 2007
Moscone West, San Francisco, California
Gartner Enterprise Integration Summit
April 19 – 20, 2007
Centro Banamex, Mexico City, Mexico
Software 2007, “Powered by Innovation”
May 8 - 9, 2007,
Santa Clara Convention Center, Santa Clara, California
SOA Executive Forum -- Proven solutions for enterprise agility
May 15-16, 2007
Roosevelt Hotel, New York, New York
Open Source Business Conference
May 22-23, 2007
The Palace Hotel, San Francisco, CA
SOAWorld Conference & Expo 2007
June 25-27, 2007
Roosevelt Hotel in New York City