Risk transfer and sophisticated asset pricing is a giant leap forward for public blockchains
NEW YORK–(BUSINESS WIRE)–GTS, a leading electronic market maker across global financial instruments, today announced that it is joining the Pyth Network, a decentralized 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 decentralized finance/“DeFi” applications,” said 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 said, “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.”
GTS is a global electronic market maker, powered by combining market expertise with innovative, proprietary technology. As a quantitative trading firm continually building for the future, GTS leverages the latest in artificial intelligence systems and sophisticated pricing models to bring consistency, efficiency, and transparency to today’s financial markets. GTS accounts for 3-5% of daily cash equities volume in the U.S. and trades over 50,000 different instruments globally. GTS is a leading Designated Market Maker (DMM) at the New York Stock Exchange, responsible for nearly $13 trillion of market capitalization. For more information on GTS, please visit www.gtsx.com.
About the Pyth Network
The Pyth Network is a specialized oracle solution for latency-sensitive financial data that is typically kept behind the “walled gardens’’ of centralized institutions. The Pyth Network is focused on finding a new and inexpensive way to bring this unique data on-chain and aggregating it securely. For more information about the Pyth Network, please visit pyth.network.
Ryan Sheftel, Partner, GTS, [email protected]
Profile Advisors for GTS
Rich Myers, 347-774-1125