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BSX publishes market data to Pyth Network

The Bermuda Stock Exchange has begun to publish MIAX Pearl Equities market data for ten actively traded US companies to the Pyth Network, a decentralised financial market data distribution platform.

The Pyth Network, announced by Jump Trading Group in April, is an oracle network designed to provide high-fidelity financial market data to the blockchain industry using a blockchain protocol on the Solana network.

This is the first initiative by BSX to provide high-fidelity data to the Pyth Network.

MIAX Pearl Equities market data is among the first US equities exchange market data provided to the Pyth Network and was first published to the Pyth Network on September 13, MIAX and the BSX said.

The BSX is publishing market data based on MIAX Pearl Equities top of book for selected symbols which is conflated and submitted to the Pyth Network at 400ms intervals to adhere to the requirements of the network.

The BSX is wholly owned by Miami International Holdings, which also operates and manages MIAX Pearl.

Thomas P. Gallagher, chairman of the BSX and chairman and CEO of MIAX, said: “BSX is delighted to begin publishing MIAX Pearl Equities market data to the Pyth Network and anticipates we will quickly expand the breadth of data we are publishing to the network.

“Publishing high-fidelity US equity market data to the Pyth Network represents a critical initiative to participate in a market data oracle designed to support the DeFi markets of tomorrow.”

The initial set of ten companies being published to the Pyth Network include Apple Inc (AAPL), AMC Entertainment Holdings Inc (AMC), Amazon.com Inc (AMZN), General Electric Inc (GE), Game Stop Inc (GME), Google Inc (GOOG), Netflix Inc (NFLX), Invesco QQQ Trust Series 1 ETF (QQQ), SPDR S&P 500 ETF Trust (SPY) and Tesla Inc (TSLA).

Dave Olsen, president and chief investment officer at Jump Trading Group, said: “The success of the Pyth Network is closely aligned with the quality of the market data being published to the oracle.

“The addition of MIAX Pearl Equities market data represents a critical inflection point for the Pyth Network as the availability of high-fidelity market data from US equities exchanges is unprecedented in DeFi.”

Miami International Holdings Inc owns Miami International Securities Exchange LLC (MIAX), as well as MIAX Pearl, MIAX Emerald, the Minneapolis Grain Exchange and the BSX.

Thomas Gallagher, chairman of the Bermuda Stock Exchange (File photograph)

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Published September 22, 2021 at 4:01 pm (Updated September 22, 2021 at 10:32 pm)

BSX publishes market data to Pyth Network

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