Cboe Global Markets has joined decentralised financial market data distribution platform for aggregated data, Pyth network, becoming the first major global exchange operator to join the network.
As part of the move, Cboe intends to publish limited derived equities market data for certain symbols from one of its four US equities to the Pyth network in Q4, offering real-time, institutional-grade pricing information to help enhance the network.
The Pyth network is a price oracle solution that looks 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 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 strengthen how financial data is used on the blockchain.”
Cboe’s move to join the Pyth network falls in line with its goals to grow and mature the digital asset market. Most recently, Cboe acquired Eris Digital (ErisX), giving Cboe entry to digital asset spot, data and derivatives markets, including clearing and settlement. ErisX was rebranded as Cboe Digital on 3 October.
“Our participation in the Pyth network will provide another avenue to broaden customer access to our data, and aligns with our strategy to deliver market data to investors around the globe based on how they want to consume their data, whether through direct connectivity methods, the cloud or the blockchain,” added Adam Inzirillo, senior vice president and head of North American equities at Cboe Global Markets.