Institutions on Pyth: Building the Price of Everything, Everywhere

Markets are defined by more than the last traded price.

Behind every price is a market: orders at different levels, available liquidity, shifting imbalances, and the participants shaping price discovery in real time.

Pyth’s vision of The Price of Everything started with making prices available across asset classes. Now it is expanding to include the market context behind those prices, delivered through a distribution layer built for modern applications.

More than a price

Nasdaq Basic brings this idea into sharper focus.

Basic provides full depth of book data for Nasdaq listed securities, including order and quote information across price levels. It also includes order level data for NYSE, NYSE American, NYSE Arca, and Cboe listed names traded on Nasdaq, alongside Nasdaq’s Net Order Imbalance Indicator for opening, closing, IPO, and halt crosses.

This gives applications a clearer view of how markets actually operate:

• The price where an asset is trading

• The orders supporting that price

• The liquidity available across the order book

• The imbalances that can influence market movement

This is the Price of Everything in higher resolution.

Through the Pyth Data Marketplace, Nasdaq and others can now distribute exchange originated market data to new audiences, including blockchain applications, fintech platforms, trading venues, and other software-driven financial systems.

This indicates the first step in how institutional market data can move directly from the source into programmable financial infrastructure.

The exchange-as-publisher model

Nasdaq joins a growing group of exchanges, venues, institutions, and market-data providers connected to Pyth, including:

• Cboe

• LMAX

• Euronext

• SGX

• OTC Markets

• Tradeweb

• Fenics

• Fidelity Investments

• Exchange Data International

Together, these names and many others represent a broader shift in how financial data can be distributed:

• Institutions can publish closer to the source.

• Applications can access data through a shared network.

• Specialized datasets can reach destinations that traditional market-data infrastructure was never designed to serve.

The result is a market-data destination with both breadth and depth:

• Aggregated feeds across asset classes

• Specialist datasets from institutional providers

• Exchange-originated market data

• Full depth of book information

• Distribution to blockchain applications, fintech platforms, and trading venues

The Price of Everything is the model: broad market coverage and specialist datasets, delivered through one programmable distribution layer.

Explore Pyth Data Marketplace to learn more.