Nasdaq Partners with Pyth Network to Distribute Market Data On-Chain

Nasdaq selected Pyth Network (PYTH) to distribute its market data, making Pyth the first on-chain network to distribute Nasdaq's market information. The collaboration will bring Nasdaq's TotalView depth ledger and order imbalance data to the onchain ecosystem, institutional users, and modern data distribution channels. As part of the partnership, Nasdaq will join the Pyth Data Marketplace as a data publisher, marking a significant development in institutional market data distribution to blockchain-based platforms.

Nasdaq TotalView Data Joins Pyth Network

Nasdaq TotalView data will be made accessible via Pyth Network. TotalView is among Nasdaq's key data products, providing information on order book depth and offering market participants more detailed insights into liquidity, buy and sell orders, and market structure. According to a statement by Pyth, Nasdaq chose Pyth to distribute this data to the onchain ecosystem and institutional users.

Douro Labs CEO Comments on Institutional Data Direction

Mike Cahill, CEO of Douro Labs and a contributor to the Pyth Network, said that a major exchange like Nasdaq choosing Pyth for data distribution signals the direction of institutional market data. Cahill noted that market data resided in terminals designed for humans for many years, but today markets are becoming increasingly software-driven. According to Cahill, data is now being moved directly from the source and under unbiased conditions to where the applications are actually built.

PYTH Price Increases Following Announcement

Following this development, the price of PYTH increased by approximately 10%.

FAQ

What did Nasdaq announce about Pyth Network? Nasdaq announced it selected Pyth Network to distribute its market data, making Pyth the first on-chain network to distribute Nasdaq's market information including TotalView depth ledger and order imbalance data.

What is Nasdaq TotalView? Nasdaq TotalView is among Nasdaq's key data products that provides information on order book depth and offers market participants more detailed insights into liquidity, buy and sell orders, and market structure.