Nasdaq Expands Market Data Distribution into Blockchain Infrastructure

Nasdaq has expanded its distribution of market data into blockchain infrastructure through a partnership with Pyth. The exchange operator will publish its TotalView full-depth-of-book equity market data via the Pyth Network, making it available to a wider range of users.

TotalView provides real-time data on buy and sell orders at every price level for securities trading on Nasdaq, including stocks listed on the NYSE and regional exchanges. The product also includes Nasdaq's Net Order Imbalance Indicator, which offers a real-time view of buy and sell imbalances before opening and closing auctions.

The partnership reflects a broader push by traditional financial institutions to make market infrastructure compatible with tokenized assets and on-chain financial services. Pyth said developers and institutional users will be able to use TotalView data to analyze market depth, improve trade execution, and build quantitative trading models.