Nasdaq will make TotalView’s market data available through the Pyth Network as exchange operators continue their efforts to connect traditional stock markets and blockchain-based financial infrastructure.
TotalView displays the complete order book for stocks traded on Nasdaq, including buy and sell interest rates at various price levels. For investors, this is important because it provides a clearer picture of market depth, liquidity, and potential execution terms than simply the last traded price.
Nasdaq said in a June 30 announcement that the data will be distributed through blockchain, trading apps and the Pais marketplace, which provides financial data to financial institutions. This arrangement gives on-chain developers and market participants a way to use Nasdaq stock data in automated trading systems, risk models, and cross-asset products.
Data is combined into tokenized stocks
The move fits into the broader Nasdaq strategy. In an exchange earlier this year, partnered We have partnered with Payward, the parent company of cryptocurrency exchange Kraken, on a tokenized stock infrastructure that aims to connect regulated stock markets to blockchain networks and support 24/7 trading.
Nasdaq too worked We partner with infrastructure provider Talos on a tokenized collateral system to provide institutions with the tools to manage traditional and blockchain-based assets in one risk framework.
Changes in market infrastructure
Reliable market data is one of the fundamental requirements for tokenized stocks to evolve beyond narrow crypto exchanges. Investors need to know not only where a stock last traded, but also how much liquidity is available and at what price.
“Financial data is moving toward a model that is more direct, programmable, and easier to integrate into the systems where transactions and decisions are actually made,” Pyth Network contributor Mike Cahill said in a statement.
Integrating TotalView into Pyth allows you to feed that information directly into blockchain-based applications. It also shows how Nasdaq is approaching crypto infrastructure by making existing data, trading, and collateral tools available on a 24-hour system.
