Xignite, a market data distribution and management solutions, has released a new Corporate Actions API that provides developers with access to data on stock splits, dividends, mergers, and spinoffs. The company notes turmoil caused by the COVID-19 pandemic as an inflection point causing increased movement in corporate logistics.
Xignite states that in the financial sector having solid information on the timing of corporate splits or acquisitions is critical for buy-side and sell-side firms. The company has added this new API to ensure that this information, which had previously been entered manually, is processed as accurately as possible. The API is RESTful and cloud-based, and Xignite hopes that the standardization of corporate action data will result in time saved and less costly errors.
The API, which is available immediately, is capable of providing information from 190 exchanges and over 30,000 mutual funds in the United States.