Don't rush to interpret this authorization as meaning that NYSE market data is already available on-chain.
At 23:00 Beijing time on November 11, market data provider Pyth Network officially announced that it had become an authorized distributor of NYSE market data. Applications can use its data marketplace to access real-time best bid and ask prices from five equity markets operated by NYSE Group, covering stocks and ETFs. The announcement specified that the offering includes only the top of the order book, not deeper levels. Institutions wishing to use the data must first obtain authorization from the NYSE, then receive it through Pyth. The NYSE also confirmed the partnership in its official announcement.
This is more likely to mean there’s now another channel for accessing the data. So far, it hasn’t been publicly disclosed who has obtained authorization or who is actually receiving the order-book data.
Let’s watch what happens over the next two weeks. The partnership will count as being put to use only if trading venues publicly integrate the data and use it to handle trading halts or compare closing prices. If the partnership is withdrawn, or remains stuck at the authorization stage, it will still amount to no more than distribution rights.
$PYTH
#PYTH #Pyth #Cryptocurrency
At 23:00 Beijing time on November 11, market data provider Pyth Network officially announced that it had become an authorized distributor of NYSE market data. Applications can use its data marketplace to access real-time best bid and ask prices from five equity markets operated by NYSE Group, covering stocks and ETFs. The announcement specified that the offering includes only the top of the order book, not deeper levels. Institutions wishing to use the data must first obtain authorization from the NYSE, then receive it through Pyth. The NYSE also confirmed the partnership in its official announcement.
This is more likely to mean there’s now another channel for accessing the data. So far, it hasn’t been publicly disclosed who has obtained authorization or who is actually receiving the order-book data.
Let’s watch what happens over the next two weeks. The partnership will count as being put to use only if trading venues publicly integrate the data and use it to handle trading halts or compare closing prices. If the partnership is withdrawn, or remains stuck at the authorization stage, it will still amount to no more than distribution rights.
$PYTH
#PYTH #Pyth #Cryptocurrency
