Introducing the Pyth Data Marketplace: Major Financial Institutions Choose Pyth for Direct Data Distribution

Over the past five years, the Pyth Network has built the infrastructure through which institutional market data moves across global markets. More than 120 of the world's largest institutions contribute data to the network, delivering 3,000+ price feeds that has secured over $3 trillion in cumulative trading volume.

Today, the network enters its next phase with two milestones: six major financial institutions across three continents are joining the network as data publishers, and the Pyth Data Marketplace is officially live.

The institutions joining today have historically distributed their data exclusively through legacy vendor networks and proprietary terminals. Their decision to publish through Pyth marks a turning point: the world's most established financial institutions are choosing onchain infrastructure as a primary distribution channel.

The Data Marketplace is the product making this possible at scale. It enables any institution to distribute proprietary datasets, from economic indicators to OTC pricing to FX benchmarks, through Pyth's global infrastructure while retaining full control over their data, attribution, and pricing. Aggregated price feeds solved one side of the market data equation. The Marketplace solves the other.

A New Wave of Institutions

Euronext FX, Exchange Data International (EDI), Fidelity Investments, OTC Markets Group, SGX FX, and Tradeweb are now publishing proprietary market data through the network. Each represents a different category of institutional participant, and each brings data from a different corner of global markets.

For these institutions, this marks the first time their proprietary data has been made available through onchain infrastructure. Their decision to publish through Pyth signals a meaningful shift in how the world's most established financial institutions think about data distribution: not as a question of traditional versus onchain, but as a question of reach, control, and who they trust to carry their data to global markets.

The addition of these six, spanning exchange infrastructure, interdealer brokerage, OTC data, buy-side asset management, and reference data, reinforces that Pyth is becoming the default infrastructure for institutional data publishers looking to extend their reach beyond traditional channels.

"These institutions recognize the need for a modern distribution model where data comes directly from the source," said Mike Cahill, CEO of Douro Labs and Contributor to Pyth Network. "Our 24/7 global economy needs more than just a price layer. It needs a comprehensive, accessible, and transparent data layer, one we are proud to advance with the launch of Pyth Data Marketplace."

"Euronext FX's data represents some of the highest-quality institutional pricing available across global currency and metals markets. Publishing this data through Pyth marks an important step toward a unified, transparent, and programmable market data standard for modern finance." — Nicolas Jegou, CEO of Euronext FX

"At Tradeweb, we are seeing growing demand for more timely and accessible ETF data. By publishing our iNAVs to the Pyth Network, we are exploring how onchain infrastructure can extend the reach of high-quality, intraday valuations to a broader set of market participants." — Michael Zaladonis, Global Head of Data Products and Analytics at Tradeweb

Why the Data Marketplace, and Why Now

The $50 billion market data industry has operated on the same model for decades: institutions generate price discovery, vendors purchase the feeds, repackage them, and redistribute through closed infrastructure. The institutions creating the most valuable data have had the least control over how it reaches the market.

The movement of institutional data onto open networks is accelerating. Pyth's aggregated price feeds solved one part of the equation: real-time market prices from institutional publishers, combined into a single output. The other part, giving institutions a trusted, scalable way to distribute their own unique datasets with full attribution and control, has remained largely unsolved.

The Pyth Data Marketplace fills that gap. It enables institutions to publish any type of dataset, from economic indicators to OTC pricing to FX composites to proprietary indices, directly to a global network spanning 100+ blockchains and 700+ applications. Marketplace datasets are distributed as pass-throughs: the data retains its source integrity, metadata, and attribution end to end. Institutions set the terms. Pyth provides the infrastructure and global reach.

At launch, the Marketplace features institutional-grade datasets including spot FX, precious metals data, crude swaps data, and reference datasets across equities, ETFs, fixed income, and derivatives with additional partners across FX, volatility, indices, and macro in advanced onboarding.

"Market data has flowed through the hands of a select few for too long," said Mike Cahill. "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."

What Comes Next

The institutions closest to price formation are choosing Pyth. Six new publishers today. A growing roster of Marketplace partners. And a pipeline of additional institutions across asset management, banking, and market infrastructure preparing to join.

What began as infrastructure for decentralized markets is becoming the standard distribution layer for institutional finance. The network is just getting started.