Canada-based fintech and global digital investing service, Wealthsimple announced on Tuesday it has selected Xignite to power its new online investment manager feature, Wealthsimple Trade, which is described as a new stock-trading mobile app, available in Canada.
Wealthsimple reported that it is using Xignite financial data APIs to power the feature. The service noted that through the feature, Canadians may buy and sell thousands of Canadian and US-listed stocks and ETFs without paying any trading commissions.
“Wealthsimple Trade users have access to unlimited $0 commission trades of over 8,000 publicly traded stocks and ETFs listed on major Canadian and U.S. exchanges. Xignite provides real-time stock price data, fundamental data and security master data to power real-time trading, as well as the algorithms that automate investment decisions.”
While sharing more details about the feature, Tara Kennedy, Head of Trading of Wealthsimple, stated:
“Wealthsimple’s products make financial markets accessible to everyone, no matter who they are or how much they have to invest. Partnering with Xignite provides us with the data we need to make investing simple and accessible through technology.”
Stephane Dubois, CEO of Xignite, went on to add:
“We are proud to be a key enabler of the fintech revolution in Canada. We help power and inspire the disruption of the financial services industry by providing entrepreneurs like Wealthsimple with financial data APIs to help them invent new businesses and revolutionary user experiences. The world’s leading robo-advisors use Xignite market data to power their platforms and apps.”