With its Market Data Cloud platform, Xignite has won the “Best Cloud Solution” award for 2016 from The Wall Street Letter.

“This award is an example of how the fintech industry is pushing financial services to innovate, and we look forward to being a part in facilitating the amazing transformations to come,” said Stephane Dubois, Xignite CEO and founder.

Xignite founder and CEO Stephane Dubois demonstrated Xignite CloudAlerts at FinvoateEurope 2016 in London.

Also picking up honors at the Wall Street Letter Awards were fellow Finovate alums, Thomson Reuters which won the “Best Trading Technology, Client Service” category, and NICE Actimize which took top honors in the “Most Innovative Use of Technology” group. Read the full list of this year’s winners.

Xignite’s Market Data Cloud platform provides cloud-based, financial market data APIs that power some of the most innovative companies in fintech, from Betterment and StockTwits to Motif Investing and Yodlee. The company was the only fintech firm to win an award at this year’s event (the sixth for the Wall Street Letter awards). The award reflects innovation in the “the evolving marketplace and the demand for fast, reliable and cost-effective technology.”

Dubois echoed this point, emphasizing that Xignite’s focus was on “providing access to simple, fast and cheap cloud-based market-data APIs to help companies invent new and revolutionary applications and businesses.”

Xignite made headlines last month when the company announced raising $20 million in a Series C investment led by Japan’s QUICK Corporation. Back in November, Xignite surpassed 50 billion API calls in a single month, confirming its status as a leader in providing cloud-based market data. A member of the first Forbes Fintech 50, Xignite launched its #FintechRevolution API Ecosystem last fall, partnering with more than 20 other technology companies and accelerators to help developers get better access to APIs and other developer’s tools.

Founded in 2006 and headquartered in San Mateo, California, Xignite demonstrated its CloudAlerts technology at FinovateEurope 2016.