Nasdaq Joins Pyth Data Marketplace

Nasdaq will publish its TotalView data solution through the Pyth Data Marketplace, expanding access to depth-of-book market data for a broader set of onchain users and institutions

BAAR, Switzerland--(BUSINESS WIRE)--Pyth Network ("Pyth"), a leading provider of institutional market data, today announced that Nasdaq will join Pyth Data Marketplace as a publisher, offering its TotalView data solution through Pyth's global distribution layer. Pyth Data Marketplace is a distribution engine that enables institutions to publish and monetize unique datasets across blockchains, applications, and financial firms. By publishing its TotalView data, Nasdaq joins a growing list of institutions on the marketplace and extends one of the market's most established depth-of-book products to a broader set of software-native applications and institutions.

The market data industry has historically operated through a closed distribution model whereby exchanges and institutions produce data, vendors package and redistribute it, and end users gain access through a fragmented mix of terminals, feed handlers, and licensing arrangements. However, a growing share of financial infrastructure now resides in software systems that require data in a more flexible form that is machine-readable, programmatically accessible, and readily integrated across modern applications. Pyth Data Marketplace is designed to address this shift, giving institutions a way to distribute proprietary datasets through a global infrastructure layer while retaining attribution and control.

Nasdaq TotalView is a full depth-of-book market data product that displays quote and order information at every price level for Nasdaq, NYSE, and regional-listed securities trading on Nasdaq. TotalView also includes the Net Order Imbalance Indicator, which provides real-time visibility into buy and sell imbalances ahead of key events such as the market open and close. By joining Pyth Data Marketplace, Nasdaq makes data available that can be used directly in trading and execution workflows, giving users better visibility into liquidity and short-term opportunities, sharper execution decisions, and order-by-order depth for model development and backtesting.

“Financial data is moving toward a model that's more direct, programmable, and easier to integrate into the systems where trading and decision-making actually happen,” said Mike Cahill, CEO of Douro Labs and Contributor to Pyth Network. “Pyth is building a comprehensive view of the market, and TotalView adds a deeper picture of order flow, price formation, and execution conditions. By bringing TotalView into the Pyth Data Marketplace, Nasdaq is extending that data to the new generation of applications being built for modern finance.”

The U.S. Department of Commerce, Tradeweb, Kalshi, SGX, and OTC Markets are among the institutions already publishing data to the Pyth Data Marketplace. Nasdaq's decision to make TotalView available through the Pyth Data Marketplace furthers Pyth’s growth as a distribution venue for institutional data owners.

About Pyth Network

Pyth Network is a modern solution to financial data. By aggregating price feeds directly from over 135 institutions, including global exchanges, trading firms, and market makers, Pyth has introduced a new technological model for how market data is produced and distributed. With a single, scalable integration across equities, crypto, FX, commodities, futures, and more, Pyth redefines market data infrastructure at a global scale. Pyth is building the global price layer, making the price of everything accessible to everyone. You can learn more about the Pyth Network here.