BSX Begins Publishing MIAX Pearl Equities

September 21, 2021 | 0 Comments

MIAX announced that the Bermuda Stock Exchange [BSX] has successfully commenced publishing MIAX Pearl Equities market data for 10 actively traded U.S. companies to the Pyth Network.

A spokesperson said, “MIAX, creator and operator of high-performance securities exchanges, products and services, today announced that the Bermuda Stock Exchange [BSX], a wholly-owned subsidiary of Miami International Holdings, Inc., the parent company of MIAX, has successfully commenced publishing MIAX Pearl Equities market data for 10 actively traded U.S. companies to the Pyth Network.

“This is the first initiative by BSX to provide high fidelity data to the Pyth Network. Bermuda is recognized as having a strong fintech and digital regulatory framework created by the Bermuda Government with the passage of the Digital Asset Business Act of 2018 [DABA].

“MIAX Pearl Equities market data is among the first U.S. equities exchange market data provided to the Pyth Network and was first published to the Pyth Network on September 13, 2021. BSX is publishing market data based on MIAX Pearl Equities top of book for selected symbols which is conflated and submitted to the Pyth Network at 400ms intervals to adhere to the requirements of the network.”

“BSX is delighted to begin publishing MIAX Pearl Equities market data to the Pyth Network and anticipates we will quickly expand the breadth of data we are publishing to the network,” said Thomas P. Gallagher, Chairman of BSX and Chairman & CEO of MIAX. “Publishing high fidelity U.S. equity market data to the Pyth Network represents a critical initiative to participate in a market data oracle designed to support the DeFi markets of tomorrow.”

The company added. “The initial set of 10 companies being published to the Pyth Network include Apple Inc. [AAPL], AMC Entertainment Holdings Inc. [AMC], Amazon.com Inc. [AMZN], General Electric Inc. [GE], Game Stop Inc. [GME], Google Inc. [GOOG], Netflix Inc. [NFLX], Invesco QQQ Trust Series 1 ETF [QQQ], SPDR S&P 500 ETF Trust [SPY] and Tesla Inc. [TSLA].”

Dave Olsen, President and Chief Investment Officer at Jump Trading Group, added, “The success of the Pyth Network is closely aligned with the quality of the market data being published to the oracle. The addition of MIAX Pearl Equities market data represents a critical inflection point for the Pyth Network as the availability of high fidelity market data from U.S. equities exchanges is unprecedented in DeFi.”

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