Cboe Global Markets has joined the decentralized financial market data distribution platform for aggregated data, the Pyth Network, becoming the first major global exchange to join the network.
As part of the move, Cboe intends to release limited derivative equity market data for certain symbols of one of its four U.S. stocks on the Pyth Network in the fourth quarter, offering real-time insights into institutional quality awards to help improve the network.
The Pyth Network is a pricing oracle solution that seeks to make financial market data available on-chain to projects, protocols, and the public through blockchain technology.
“We believe DeFi has the potential to play a significant role in defining the future of our financial markets and we are excited to help support its growth through innovative initiatives such as the Pyth Network,” said Catherine Clay. , Executive Vice President, Data and Access Solutions. at Cboe Global Markets.
“As Cboe expands its presence in the digital asset space, we look forward to bringing data solutions from our deep and liquid markets to the global DeFi community and working with our industry peers to transform the ecosystem of digital assets and strengthen how financial data is used. on the blockchain.
Cboe’s decision to join the Pyth Network is in line with its goals of growing and maturing the digital asset market. Most recently, Cboe acquired Eris Digital (ErisX), giving Cboe access to the digital asset, data and derivatives markets, including clearing and settlement. ErisX was rebranded as Cboe Digital on October 3.
“Our participation in the Pyth Network will provide another avenue to expand client access to our data and aligns with our strategy to provide market data to investors around the world based on how they want to consume their data. , whether through direct connectivity methods, cloud or blockchain,” added Adam Inzirillo, senior vice president and head of North American equities at Cboe Global Markets.