GTS to provide cross-asset market data through the Pyth Network

GTS, an electronic market maker across global financial instruments, is joining the Pyth Network, a decentralised financial market data distribution platform. 

GTS will directly publish data it owns to the Network through a node it independently runs, furthering Pyth’s vision of having first-hand, real-time pricing available on high performance blockchains.

“Real-time market data content across asset classes will be a giant step forward for developing decentralised finance/“DeFi” applications,” says Ari Rubenstein, co-founder and CEO of GTS. “For DeFi applications to mature, the sophisticated integration of asset pricing that GTS excels in is an imperative. Our participation in the Pyth Network lends a solution to a long-standing gap in real time public blockchain distribution of financial data.”

The Pyth Network was announced by Dave Olsen of Jump Trading Group and Sam Bankman Fried of Alameda Research on the Jump Capital podcast in April. The objectives of the network include allowing precise, high performance market data to be consumed by smart contracts by using the Solana blockchain and other major blockchains.

Kanav Kariya, Director of Strategic Initiatives of Jump Trading Group says: “The Pyth Network is creating a next generation oracle solution of high fidelity, fully streaming financial data. Experienced market participants like GTS bring a wealth of expertise, innovation, and institutional quality financial data that will greatly enhance our ability to bring smarter data for smarter contracts.”

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