Nasdaq puts TotalView depth data on-chain via Pyth

Nasdaq has selected Pyth, an on-chain financial data network, to distribute Nasdaq TotalView depth-of-book market data to blockchain applications and other software platforms.

Nasdaq TotalView provides a full view of displayed buy and sell orders across all price levels and includes order imbalance data around opening and closing auctions. The feed is used by professional traders for a more complete picture of displayed liquidity than top-of-book quotes alone.

Through Pyth, Nasdaq TotalView will be available as first-party market data to blockchain-based applications, digital asset exchanges, prediction markets, trading systems and other software platforms via a single integration.

Pyth operates a marketplace that aggregates market data from multiple publishers and distributes it on-chain. Other contributors on the network include Euronext, OTC Markets, electronic trading platforms Tradeweb and Kalshi, market data provider Exchange Data International, SGX FX and the US Department of Commerce.

Making exchange-native depth-of-book data available on-chain lets smart contracts and other on-chain services access displayed liquidity information without separate bilateral integrations. The arrangement connects traditional exchange feeds directly to blockchain infrastructure used by trading venues and developers.

Nasdaq has pursued several recent projects in digital assets and tokenization. In March the exchange expanded tokenization work through a partnership with crypto exchange Kraken and its infrastructure affiliate Backed to link traditional equities with blockchain networks. The Securities and Exchange Commission approved Nasdaq’s proposal to list Bitcoin index options tied to the Nasdaq Bitcoin Index the following month. Nasdaq also partnered with CME Group to launch cryptocurrency index futures that track a basket of seven digital assets, including Bitcoin, Ether, Solana and XRP.

Other exchange operators have announced related products. ICE, the parent company of the New York Stock Exchange, partnered with crypto exchange OKX to launch perpetual futures tied to Brent crude and West Texas Intermediate oil benchmarks. ICE’s chief executive, Jeffrey Sprecher, has called on regulators to permit regulated venues to offer 24/7 on-chain perpetual futures.

Pyth’s marketplace provides a single integration point for multiple publishers, reducing the need for separate feeds and custom connections. Putting depth-of-book feeds such as Nasdaq TotalView on-chain aims to support blockchain-native products and services that rely on timely, high-fidelity market information.