Pyth has been approved as an external distributor to offer Nasdaq Basic, Nasdaq’s proprietary real-time quote and trade product for U.S. equities via data feeds.

Nasdaq Basic will be distributed through Pyth’s Data Marketplace product.

Why does this matter?

The Pyth Data Marketplace adds a channel built for software and blockchain-native destinations. Publishers distribute their proprietary data through a single integration, with attribution and commercial control retained. For Nasdaq Basic, it is another distribution channel to tap into modern financial applications.

“More of the market runs on software every year, and that means data has to reach a wider and more varied set of applications than ever before,” said Michael Cahill, Core Contributor to Pyth.

“Nasdaq has been ahead of that curve for a long time, with Nasdaq Basic existing precisely because they wanted their data in more hands. Adding Pyth’s Data Marketplace as a channel is a natural extension of that.”

Clients of Pyth’s Data Marketplace may now license directly with Nasdaq to receive Nasdaq Basic via Pyth. Any client interested in using Pyth as their Nasdaq Basic provider must have prior, written approval from Nasdaq before consuming the Nasdaq Basic market data feed.

What is Nasdaq Basic?

Nasdaq Basic is the exchange’s real-time top-of-book product for U.S. equities. It carries Nasdaq’s best bid and offer with associated size, drawn from liquidity in the Nasdaq market center, together with last sale price and size from Nasdaq’s U.S. venues and from trades reported to the FINRA/Nasdaq Trade Reporting Facility.

Coverage extends to all U.S. exchange-listed securities, regardless of which venue a security is listed on. The product also carries the Nasdaq Official Opening Price and Nasdaq Official Closing Price, the reference prices from Nasdaq’s Opening, Closing, and IPO/Halt Crosses that much of the industry uses to value positions at the start and end of the trading day.

For firms that need real-time U.S. equity quotes and trades without the cost structure of consolidated alternatives, Nasdaq Basic has been the answer for well over a decade. It is used across brokerages, banks, fintech platforms, and consumer investing apps.

How does this fit within Pyth’s strategy?

Pyth is building the price of everything. The Data Marketplace is the primary channel for acquiring and distributing unique datasets that fall outside Pyth’s other offerings. It enables institutions to distribute their data directly to the applications that need it.

Source: Pyth