Cboe strengthens its digital assets position with Pyth partnership and ErisX rebrand

Cboe Global Markets is dipping its toes into decentralized finance by making some real-time pricing available on the Pyth network.

Cboe, which will publish limited derived equities market data for 10 symbols starting in the fourth quarter, is the first major exchange operator to join Pyth, according to a company release. The network, built on the Solana blockchain, feeds market data into on-chain projects and protocols. It leverages data from over 70 trusted providers including Jane Street, Virtu Financial and Two Sigma Securities.  

"Our participation in the Pyth network will provide another avenue to broaden customer access to our data and aligns with our strategy to deliver market data to investors around the globe based on how they want to consume their data, whether through direct connectivity methods, the cloud or the blockchain," said Adam Inzirillo, senior vice president and head of North American equities at Cboe. 

The news follows Cboe’s recent acquisition of Eris Digital Holdings, a US-based digital asset spot market and regulated futures exchange and clearing house which Cboe rebranded to Cboe Digital earlier this week. The acquisition has enabled Cboe to strengthen its position in the digital assets market.

"We believe DeFi has the potential to play an important role in defining the future of our financial markets and we are excited to help support its growth through innovative initiatives like the Pyth network," said Catherine Clay, executive vice president of data and access solutions at Cboe in the release. 

Cboe reported a $460 million write-down on its recent purchase of ErisX during its second-quarter earnings call this year.