- 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 symbols from one of its
four U.S. equities markets
- Reflects Cboe's broader commitment to help grow and mature the
digital asset ecosystem
CHICAGO, Oct. 5, 2022
/PRNewswire/ -- Cboe Global Markets, Inc.
(Cboe: CBOE), a leading provider of
global market infrastructure and tradable products, today announced
it has joined the Pyth network, a decentralized
financial market data distribution platform for aggregated
data. Cboe 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
fourth-quarter 2022, providing real-time, institutional-grade
pricing information to help further grow the network.
Timely and accurate market data has historically been accessible
through traditional direct connectivity methods to 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- 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
strengthen how financial data is used on the blockchain."
Cboe's support of the Pyth network reflects its broader
commitment to help grow and mature the digital asset market by
bringing its global infrastructure, market expertise and data
capabilities to the space. The announcement follows its recent
acquisition of Eris Digital Holdings, LLC (ErisX), an operator of a
U.S.-based digital asset spot market, a regulated futures exchange
and a regulated clearinghouse, providing Cboe with entry to 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 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,"
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 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'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.
"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," said Stephen Kaminsky,
Special Projects at Jump Crypto, one of the leading institutions
helping to support the Pyth network. "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."
The Pyth network, which includes more than 70 prominent
financial market participants as data publishers for various asset
classes, delivers premium, real-world data on-chain on a sub-second
timescale. The network is built on Solana, a blockchain proven to
handle quick 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-resistant,
decentralized, and self-sustainable environment. The Pyth Data
Association was created 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
around the world. The company is committed to operating a trusted,
inclusive global marketplace, providing leading products,
technology and data solutions that enable participants to define a
sustainable financial future. Cboe provides trading solutions and
products in multiple asset classes, including equities,
derivatives, FX and digital assets, across North America, Europe and Asia
Pacific. To learn more, visit cboe.com.
Media
Contacts
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Tim
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Kenneth Hill,
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+1-646-856-8734
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+44 (0)
7593-506-719
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1-312-786-7559
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atu@cboe.com
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tcave@cboe.com
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khill@cboe.com
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SOURCE Cboe Global Markets, Inc.