Advertisement
Pyth Unveils Data Marketplace to Challenge Wall Street’s Grip on Market Feeds
- Pyth launches a blockchain marketplace enabling institutions to publish and monetise proprietary market data directly.
- Major financial players join, marking a shift away from closed, vendor-controlled data distribution models.
- Platform challenges dominance of traditional data providers with on-demand access and broader global reach.
A new data marketplace from Pyth Network is aiming to disrupt how financial market data is distributed, giving institutions greater control over how their information is shared and monetised. The blockchain-based platform allows firms to publish proprietary datasets directly, bypassing traditional vendor-controlled systems.
Six major institutions, including Euronext, Exchange Data International, Fidelity Investments, OTC Markets Group, SGX FX and Tradeweb, are among the first to participate by publishing data onchain. Previously, their datasets were largely confined to closed platforms, limiting accessibility and increasing costs for users.
Related: Grayscale Urges Quantum-Proof Blockchain Upgrades as Threat Nears Reality
A New Model for Pricing Data
The marketplace introduces support for datasets across foreign exchange, commodities and swaps markets, alongside broader financial instruments such as equities and derivatives. By distributing data directly, institutions retain ownership, attribution and control over pricing structures.
We’re working alongside some of the world’s largest financial institutions to rewrite that model and establish an open data economy, creating a modern market data solution built by and for institutions.
Mike Cahill, CEO of Douro Labs and Pyth Network Contributor This model challenges the established structure of the US$50 billion (AU$72.5 billion) market data sector, where a small number of providers have historically held significant pricing power. Pyth’s pull-based access system enables users to request specific data when needed, offering a more flexible alternative to bundled services.
With over 120 contributing institutions and more than US$3 trillion (AU$4.35 trillion) in cumulative trading volume supported, Pyth has already built a significant data network. The addition of the Data Marketplace expands its capabilities by enabling direct access to institutional-grade datasets across more than 100 blockchains and hundreds of applications.
Related: Crypto Safe Harbor Proposal Moves Closer to Approval as SEC Signals Regulatory Shift
Author
Rachel Lourdesamy
Rachel is a freelance writer based in Sydney with experience within financial services, marketing, and corporate communications in the APAC region. An avid reader and a graduate of the University of Sydney, she covers topics including business, finance and human interest.
