Cboe becomes first major global exchange operator on DeFi data platform, Pyth Network

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“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.”

Cboe Glob­al Mar­kets has joined the Pyth net­work in a mile­stone for the decen­tral­ized finan­cial mar­ket data dis­tri­b­u­tion plat­form for aggre­gat­ed data.

Pyth Net­work pro­vides a first-par­ty finan­cial ora­cle net­work designed to pub­lish con­tin­u­ous real-world data on-chain in a tam­per-resis­tant, decen­tral­ized, and self-sus­tain­able environment.

This is a spe­cial moment for the Solana-pow­ered net­work that already includes more than 70 promi­nent finan­cial mar­ket par­tic­i­pants as data pub­lish­ers for var­i­ous asset class­es, and deliv­ers pre­mi­um, real-world data on-chain on a sub-sec­ond timescal

Cboe is the first major glob­al exchange oper­a­tor to join the Pyth Net­work and plans to begin pub­lish­ing lim­it­ed derived equi­ties mar­ket data for cer­tain sym­bols from one of its four U.S. equi­ties exchanges to the Pyth net­work in Q4 2022.

The real-time, derived mar­ket data from Cboe will serve the glob­al DeFi com­mu­ni­ty, start­ing with 10 sym­bols from one of its four U.S. equi­ties markets.

Cboe doubles down on DeFi after rebranding ErisX to Cboe Digital

Cboe is increas­ing­ly com­mit­ted to help grow and mature the dig­i­tal asset mar­ket by bring­ing its glob­al infra­struc­ture, mar­ket exper­tise and data capa­bil­i­ties to the space. The com­pa­ny has recent­ly equired Eris Dig­i­tal Hold­ings, LLC (ErisX), an oper­a­tor of a U.S.-based dig­i­tal asset spot mar­ket, a reg­u­lat­ed futures exchange and a reg­u­lat­ed clearinghouse.

The acqui­si­tion of ErisX was Cboe’s way to enter dig­i­tal asset spot, data and deriv­a­tives mar­kets, includ­ing clear­ing and set­tle­ment. ErisX was offi­cial­ly rebrand­ed as Cboe Dig­i­tal on Octo­ber 3.

Cboe’s U.S. equi­ties mar­ket data is cur­rent­ly avail­able on-premise in Cboe’s pri­ma­ry and sec­ondary data cen­ters in Secau­cus, New Jer­sey and Chica­go, Illi­nois and in applic­a­ble Cboe Point of Pres­ence (“PoP”) loca­tions, as well as via Cboe Glob­al Cloud, a cloud-based data stream­ing ser­vice, with var­i­ous secure con­nec­tiv­i­ty options.

DeFi and the future of financial markets

Cather­ine Clay, Exec­u­tive Vice Pres­i­dent, Data and Access Solu­tions at Cboe Glob­al Mar­kets, said: “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. 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.”

Adam Inzir­il­lo, Senior Vice Pres­i­dent and Head of North Amer­i­can Equi­ties at Cboe Glob­al Mar­kets, com­ment­ed: “Cboe’s U.S. equi­ties mar­kets are among the largest and most liq­uid in the world and pro­vide trust­ed and accu­rate data that mar­ket par­tic­i­pants rely on to make crit­i­cal trad­ing deci­sions. 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.”

Stephen Kamin­sky, Spe­cial Projects at Jump Cryp­to, added: “The Pyth net­work pro­vides real-time and reli­able price data, through a ful­ly decen­tral­ized mech­a­nism, by direct­ly sourc­ing from some of the world’s most impor­tant finan­cial insti­tu­tions, and we are thrilled to count Cboe as our first major glob­al exchange provider. As one of the largest glob­al mar­ket infra­struc­ture providers in the world, Cboe will pro­vide robust, high-qual­i­ty derived data that will help the Pyth net­work fur­ther enhance and scale its offer­ings for DeFi consumers.”

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