Xignite, Inc., the market data cloud provider, today announced that Hubert Holmes has joined its management team as chief business development officer. He joins during an expansion period for Xignite, which provides access to market data on-demand to power a wide range of financial applications.

The company’s cloud-based data distribution platform, XigniteOnDemand, is available on a private-label basis, enabling exchanges, vendors and financial institutions to provide market data on-demand through their own branded platform and interface. Holmes leads the company’s award-winning private-label platform sales and marketing efforts.

“Hubert has worked with exchanges, financial institutions and data vendors around the globe on their market data software infrastructure and data business development, and now he will be instrumental in driving our platform sales and marketing programs,” said Stephane Dubois, CEO and founder of Xignite. “With his proven leadership and stellar team, Hubert is poised help Xignite transform this important industry segment.”

Xignite began offering its platform on a private-label basis in response to demand from companies seeking to establish their own cloud-based, on-demand market data business under their own brands. Already, XigniteOnDemand powers market data services provided by NASDAQ OMX, CME Group, BGCantor and Pearson.

The platform enables exchanges to serve users who do not purchase large-scale feeds due to cost and resource constraints, and to quickly and easily launch new products. For exchanges, offering value-added services is key, not only because it differentiates them, but because these services raise awareness in the trading community and enhance the exchange’s core business. Financial institutions and vendors can also use the platform to cost-effectively package and distribute data internally and externally.

“I’m thrilled to join Xignite, which I see as a clear leader in next-generation financial data delivery,” stated Holmes. “The many advantages of a cloud-based solution, including cost-efficiency, agility and the ability to reach all possible user segments, are demonstrated in Xignite’s success. I look forward to expanding the company’s platform business, bringing this proven solution to exchanges, financial services firms and data distributors around the globe.”

Prior to Xignite, Hubert served as executive vice president at Chi-X Global Technologies. He joined Chi-X following the company’s acquisition of Cicada, a leading provider of large-scale software infrastructure solutions powering real-time market data distribution and data business strategy at global exchanges. At Cicada, which he co-founded in 1998, Hubert led business development strategy, sales and marketing. Prior to Cicada, Hubert held senior executive positions at Reuters.

The platform business team led by Holmes includes Keith Brodhead, Jr. (who joined Xignite in 2009 and was previously with NASDAQ OMX) for business development and Laura Perdue (who joined in January 2012 and was previously with Chi-X Global) for marketing. The company expects to expand the team over the course of the year.

About Xignite

Xignite is the leading provider of cloud-based market data solutions. Xignite's market data cloud fulfills more than five billion service requests per month and offers more than 50 financial Web Services providing real-time, historical and reference data for global equities, commodities, currencies, options, fixed income, mutual funds, derivatives and OTC instruments. Xignite solutions power mission-critical applications for front, back and mid-office, investor relations, dashboards, e-commerce, wireless applications and financial websites for more than 1000 clients in 50 countries, including Citi, GE, Wells Fargo, Computershare, ING, BNY Mellon, Natixis, Dow Jones, Forbes.com, Seeking Alpha, ExxonMobil, Starbucks, and Barrick Gold. The award-winning XigniteOnDemand cloud platform also powers on-demand market data distribution solutions for stock exchanges, trading venues, OTC brokers and market data originators including the CME Group, NASDAQ OMX, BGCantor and Pearson. For more information, please visit www.xignite.com or call 1-866-XML-SOAP.