The 2016 Tech 50: Stephane Dubois

Xignite CEO Dubois moves up to No. 43 from No. 45 on the Tech 50 ranking.

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< The 2016 Tech 50

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43
Stephane Dubois
Chief Executive Officer
Xignite
Last year: 45

The gap between the legacy systems of financial industry incumbents and the sleek apps that appeal to younger, more mobile demographic groups is closing. One reason, says Stephane Dubois, is that older institutions simply can no longer afford to run on their outdated software, so they are now open to alternative fintech solutions like Xignite’s market-data cloud. “The technology that financial companies built in the 1990s and 2000s is getting thrown away,” says the Xignite CEO. “They can build on top of legacy technology, but eventually infrastructure will cost the large banks millions, if not billions, of dollars.” Old and new find common ground — to be more exact, a common cloud — in Xignite. More than 1,000 customers, ranging from Nasdaq and Wells Fargo & Co. to Betterment, Robinhood and Wealthfront, rely on Xignite’s cloud network for data distribution and application programming interfaces (APIs) to push new-product and mobile strategies. Cloud, though maturing, is still a “big thing, and particularly critical to the market data industry,” says Dubois, 52, a native of Rennes, France, who started San Mateo, California–based Xignite in 2000. He says demand for the platform is doubling every six months as it allows users to accelerate innovation and reduce operating costs by freeing them from the need to own and maintain hardware. The company has raised $37 million in venture funding, capped by a $20.5 million Series C round in February led by financial data company QUICK Corp., part of Tokyo-based Nikkei. QUICK will be partnering with Xignite to expand in Asia. Dubois says an alliance with FactSet Research Systems, announced in 2014, has proved “very critical for us,” resulting in rollouts of APIs that are among Xignite’s most successful products to date.

Visit The 2016 Tech 50: Making Financial Services Faster, Cheaper, Bigger for more.


The 2016 Tech 50

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1. Catherine
Bessant
Bank of America Corp.

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2. Jeffrey Sprecher
Intercontinental Exchange

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3. Lance Uggla
Markit

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4. Phupinder Gill
CME Group

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5. Shawn Edwards and Vlad Kliatchko
Bloomberg

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6. R. Martin Chavez
Goldman Sachs Group

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7. Robert Goldstein
BlackRock

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8. Adena Friedman
Nasdaq

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9. Deborah Hopkins
Citi Ventures

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10. Daniel Coleman
KCG Holdings

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11. Stephen Neff
Fidelity Investments

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12. David Craig
Thomson Reuters

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13. Michael Spencer
ICAP

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14. Michael Bodson
Depository Trust & Clearing Corp.

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15. Charles Li
Hong Kong Exchanges and Clearing

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16. Chris Concannon
BATS Global Markets

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17. Blythe Masters
Digital Asset Holdings

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18. David Rutter
R3CEV

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19. Neil Katz
D.E. Shaw & Co.

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20. Lee Olesky
Tradeweb Markets

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21. Richard McVey
MarketAxess Holdings

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22. Seth Merrin
Liquidnet Holdings

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23. Robert Alexander
Capital One Financial Corp.

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24. Brad Katsuyama
IEX Group

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25. Antoine Shagoury
State Street Corp.

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26. David Gledhill
DBS Bank

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27. Lou Eccleston
TMX Group

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28. Andreas Preuss
Deutsche BÖrse

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29. Dan Schulman
PayPal Holdings

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30. Scott Dillon
Wells Fargo & Co.

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31. Mike Chinn
S&P Global Market Intelligence

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32. Craig Donohue
Options Clearing Corp.

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33. Gary Norcross
Fidelity National Information Services

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34. Steven O’Hanlon
Numerix

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35. Sebastián Ceria
Axioma

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36. Michael Cooper
BT Radianz

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37. Tyler Kim
MaplesFS

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38. Neal Pawar
AQR Capital Management

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39. David Harding
Winton Capital Management

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40. Chris Corrado
London Stock Exchange Group

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41. Brian Conlon
First Derivatives

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42. Jim Minnick
eVestment

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43. Stephane Dubois
Xignite

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44. Mazy Dar
OpenFin

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45. Yasuki Okai
NRI Holdings America

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46. Kim Fournais
Saxo Bank

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47. Jock Percy
Perseus

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48. Robert Schifellite
Broadridge Financial Solutions

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49. Brian Sentance
Xenomorph Software

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50. Pieter van der Does
Adyen

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