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The 2016 Tech 50: Stephane Dubois
Xignite CEO Dubois moves up to No. 43 from No. 45 on the Tech 50 ranking.
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 One reason, says Stephane Dubois, is that older institutions simply can no longer afford to run on their outdated software, so they are now open to alternative fintech solutions like Xignite’s market-data cloud.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.
 1. Catherine Bessant Bank of America Corp.  2. Jeffrey Sprecher Intercontinental Exchange  3. Lance Uggla Markit  4. Phupinder Gill CME Group  5. Shawn Edwards and Vlad Kliatchko Bloomberg  6. R. Martin Chavez Goldman Sachs Group |
 7. Robert Goldstein BlackRock  8. Adena Friedman Nasdaq  9. Deborah Hopkins Citi Ventures  10. Daniel Coleman KCG Holdings  11. Stephen Neff Fidelity Investments  12. David Craig Thomson Reuters |
 13. Michael Spencer ICAP  14. Michael Bodson Depository Trust & Clearing Corp.  15. Charles Li Hong Kong Exchanges and Clearing  16. Chris Concannon BATS Global Markets  17. Blythe Masters Digital Asset Holdings  18. David Rutter R3CEV |
 19. Neil Katz D.E. Shaw & Co.  20. Lee Olesky Tradeweb Markets  21. Richard McVey MarketAxess Holdings  22. Seth Merrin Liquidnet Holdings  23. Robert Alexander Capital One Financial Corp.  24. Brad Katsuyama IEX Group |
 25. Antoine Shagoury State Street Corp.  26. David Gledhill DBS Bank  27. Lou Eccleston TMX Group  28. Andreas Preuss Deutsche BÖrse  29. Dan Schulman PayPal Holdings  30. Scott Dillon Wells Fargo & Co. |
 31. Mike Chinn S&P Global Market Intelligence  32. Craig Donohue Options Clearing Corp.  33. Gary Norcross Fidelity National Information Services  34. Steven O'Hanlon Numerix  35. Sebastián Ceria Axioma  36. Michael Cooper BT Radianz |
 37. Tyler Kim MaplesFS  38. Neal Pawar AQR Capital Management  39. David Harding Winton Capital Management  40. Chris Corrado London Stock Exchange Group  41. Brian Conlon First Derivatives  42. Jim Minnick eVestment |
 43. Stephane Dubois Xignite  44. Mazy Dar OpenFin  45. Yasuki Okai NRI Holdings America  46. Kim Fournais Saxo Bank  47. Jock Percy Perseus  48. Robert Schifellite Broadridge Financial Solutions |
 49. Brian Sentance Xenomorph Software  50. Pieter van der Does Adyen |