08.24.2021

Hudson River Trading Joins Pyth Network

08.24.2021
Hudson River Trading Joins Pyth Network

Hudson River Trading, a leading quantitative trading firm with an established presence in global financial and cryptocurrency markets, tannounced that it has joined the Pyth network, a next generation oracle solution designed to bring real-world data on-chain on a sub-second timescale. HRT will provide real-time U.S. equities and crypto pricing data to a node on the Pyth network.

Founded in 2002, HRT employs more than 500 people around the world and implements a quantitative approach to problem solving. The company handles nearly 10% of daily U.S. stock trading volume and will contribute equities and crypto data to the Pyth network.

The Pyth network is built on Solana, a blockchain that can handle 50,000 transactions per second, making it well-suited for timely receipt and distribution of fast-moving data contributed from a diverse network of trusted data providers like HRT. The Pyth network is also designed to be a cross-bridge project working across other leading blockchains to provide seamless, interoperable solutions between platforms.

“HRT is at the forefront of innovation in the world of automated trading and our teams thrive on the excitement of being at the cutting edge of new technologies and projects,” said Brad Vopni, Head of Digital Assets at HRT. “This is why we were eager to be a part of the Pyth network as we leverage the power of decentralized finance to build something that can transform our financial markets.”

“With their research-oriented and scientific approach to trading financial products, we are delighted to welcome HRT to the Pyth network,” said Michael Cahill, Head of Business Development, Digital Assets, EMEA, of Jump Trading Group. “HRT’s leading market data will help this oracle solution become even more powerful and we look forward to witnessing the impact it will have on decentralized finance and our marketplace.”

Source: Hudson River Trading

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