Cboe Joins Pyth Network to Bring Market Data to Blockchain
Cboe Joins Pyth Network to Bring Market Data to Blockchain
- Cboe is the first major global exchange operator to join the Pyth Network
- Plans to contribute real-time derived market data to serve the global DeFi community, starting with 10 tokens from one of the four US stock markets.
- Reflects Cboe’s broader commitment to help grow and mature the digital asset ecosystem
CHICAGO – October 5, 2022 – Cboe Global Markets, Inc. (Cboe: CBOE), a leading provider of global market infrastructure and tradable products, today announced that it has joined the Pyth network, a decentralized financial market data distribution platform for aggregated data. Cboe plans to begin publishing limited derivative stock market data for certain symbols from one of its four US stock exchanges to the Pyth network in the fourth quarter of 2022, providing real-time institutional price information to help further expand the network.
Timely and accurate market data has historically been available through traditional direct connection methods for institutions, market participants and other data providers. The Pyth network is a next-generation price oracle solution that aims to make valuable financial market data available on-chain to projects and protocols, as well as to the general public via blockchain technology. The network aggregates first-party price data from a broad group of over 70 trusted data providers and publishes it for consumption by smart contracts and other on-chain or off-chain applications.
“We believe DeFi has the potential to play an important role in defining the future of our financial markets, and we are excited to help support its growth through innovative initiatives like 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 the data solutions from our deep and liquid markets to the global DeFi community and working with our industry peers to transform the digital asset ecosystem and empower how financial data is used on the blockchain. “
Cboe’s support for the Pyth network reflects its broader commitment to help grow and mature the digital asset market by bringing its global infrastructure, market expertise and computing capabilities to the space. The announcement follows the recent acquisition of Eris Digital Holdings, LLC (ErisX), a US-based operator of a digital asset spot market, a regulated futures exchange and a regulated clearing house, which gives Cboe access to digital asset spot, data and derivatives markets . , including clearing and settlement. ErisX was officially renamed Cboe Digital on October 3rd.
“Cboe’s US equity markets are among the largest and most liquid in the world and provide reliable and accurate data that market participants rely on to make critical trading decisions,” said Adam Inzirillo, Senior Vice President and Head of North American Equities at Cboe Global Markets. “Our participation in the Pyth network will provide another opportunity to expand customer access to our data and is in line with our strategy to deliver market data to investors worldwide based on how they want to consume their data, either through direct connectivity methods , the cloud or the blockchain.”
Cboe’s US stock market data is currently available locally in Cboe’s primary and secondary data centers in Secaucus, New Jersey and Chicago, Illinois and at applicable Cboe Point of Presence (“PoP”) locations, as well as via the Cboe Global Cloud, a cloud-based data streaming service, with various secure connection options.
“The Pyth network provides real-time and reliable price data, through a fully decentralized mechanism, by sourcing directly from some of the world’s most important financial institutions, and we are thrilled to count Cboe as our first major global exchange provider,” said Stephen Kaminsky, Special Projects at Jump Crypto, one of the leading institutions that help support the Pyth network. “As one of the largest global market infrastructure providers in the world, Cboe will deliver robust, high-quality derived data that will help the Pyth network further improve and scale its offerings for DeFi consumers.”
The Pyth network, which includes more than 70 prominent financial market players as data publishers for various asset classes, delivers first-class, real-world data on the chain on a sub-second time scale. The network is built on Solana, a blockchain proven to handle fast and efficient dissemination of fast-moving data, and other major blockchains designed to distribute real-time, high-performance, and verifiable data.
Pyth is a first-party financial oracle network designed to publish continuous real-world data on-chain in a tamper-proof, decentralized and self-sustaining environment. The Pyth Data Association was established in support of the Pyth Network and is overseen by a Board of Directors elected by members of the Pyth Network.
| About Cboe Global Markets, Inc. |
Cboe Global Markets (Cboe: CBOE), a leading provider of market infrastructure and tradable products, delivers cutting-edge trading, clearing and investment solutions to market participants worldwide. The company is committed to operating a trusted, inclusive global marketplace, offering leading products, technology and data solutions that enable participants to define a sustainable economic future. Cboe offers trading solutions and products across multiple asset classes, including equities, derivatives, currencies and digital assets, across North America, Europe and the Asia-Pacific region. To learn more, visit cboe.com.
