Xignite Announces the Launch of its New Corporate Actions Cloud API

The new API aids businesses in preparing for the retail market's post-pandemic "perfect storm."

FREMONT, CA: Xignite, a supplier of cloud-based market data delivery and management solutions for financial information and technology companies, announced the launch of XigniteGlobalCorporateActions, a highly innovative API that provides comprehensive corporate actions data for actions including stock splits, dividends, mergers, and spinoffs.The COVID-19 global epidemic has led to a massive rise in corporate behavior, including canceled annual meetings, return on equity suspensions, and faster mergers and acquisitions. For buy-side and sell-side companies, knowing whether a company plans to offer a split or make an acquisition is essential.

One of the "last frontiers of suffering" for investment management is one of the most manual and complex aspects of back-office operations is corporate action processing. It is difficult to properly define and interpret information due to a lack of uniformity and standards. Accurate and timely data is challenging to come by, and mistakes can result in significant financial losses.The XigniteGlobalCorporateActions REST API is the world's first cloud-based REST API that eliminates the pains and complexities of legacy data feeds and files. The API offers a single stream of data with consistent observations made from over 190 exchanges and over 30,000 mutual funds in the United States.

The recent stock split of TSLA and AAPL on the same day exemplifies the complex and far-reaching consequences of corporate activities. If a company fails to do this right, it will be visible on historical maps, and consumers will notice.The Data Quality team at Xignite cross-validates our corporate actions data across channels proactively identifies and addresses any missing information, preventing issues as the TSLA and AAPL splits from occurring.

"The industry is facing a perfect storm," says Vijay Choudhary, Vice President of Product Management for Xignite. "On one hand, you have a massive wave of corporate actions fueled by the pandemic and the rising markets, and on the other, you have millions of new retail investors eyeballing their investment applications all day long. One bad corporate action can send your customer service department into a tailspin," added Choudhary.

More information about the Corporate Actions Extensions:

GetDistributions - Returns cash and stock dividends for a defined security and date range, as stated by the firm.

GetDistributionsByExchange - Returns cash and stock dividends for a set exchange and date, as stated by the company.

GetEventSummaries - Gives you a high-level summary of incidents for specific security and time.

GetMergers- For a given identifier and date range, this function returns merger events.

GetSpinoffs - For a given identifier and date range, this function returns spinoff events.

GetSplits- For a given date range, returns the stock split history for a safe.

GetTakeovers - For a given identifier and date range, this function returns takeover events.