Nasdaq has selected Pyth to distribute TotalView market data through the Pyth Data Marketplace, putting one of the exchange operator’s core equity data products into a programmable distributi
Nasdaq has selected Pyth to distribute TotalView market data through the Pyth Data Marketplace, putting one of the exchange operator’s core equity data products into a programmable distribution layer built for onchain and institutional applications.
The move makes Pyth the first onchain network to distribute Nasdaq’s market data. Nasdaq will join the Pyth Data Marketplace as a publisher, starting with TotalView depth-of-book data and order imbalance data used by traders, financial applications, execution systems and quantitative models.
TotalView is not a basic equity price feed. Nasdaq’s product displays the full order book across Nasdaq, NYSE, NYSE American and regional-listed securities trading on Nasdaq, including every quote and order at each price level. It also includes the Net Order Imbalance Indicator for the Nasdaq Opening and Closing Crosses and Nasdaq IPO/Halt Cross.
The integration gives builders and institutions access to deeper equity-market information through a modern distribution channel rather than only through legacy terminals, direct feeds or traditional market-data vendors. For crypto and tokenized-market infrastructure, the key change is that institutional equity data can sit closer to applications that already run on blockchain rails.
Pyth Data Marketplace is designed for institutions that want to publish proprietary datasets directly to software-native users while retaining control over access, pricing and attribution. Nasdaq now joins a publisher group that already includes the U.S. Department of Commerce, Kalshi, Euronext, Exchange Data International, OTC Markets, SGX FX and Tradeweb.
The marketplace expands Pyth beyond standard crypto oracle feeds. Instead of only delivering asset prices to DeFi protocols, Pyth is building a broader institutional data layer for market depth, macroeconomic datasets, prediction markets, fixed income, FX, commodities, equities and proprietary indices.
That direction has already appeared in Pyth’s product roadmap. Pyth recently launched 24/7 indices for equities, metals and oil, including single-asset indices for major U.S. stocks and thematic baskets built with MarketVector. Nasdaq’s TotalView data adds a deeper order-book component to that same push.
The timing also matches the growth of tokenized equity products. Coinbase has moved into 1:1-backed tokenized U.S. stocks, while other exchanges and brokers are building products that bring public-market exposure onto crypto rails. Those markets need reliable pricing, order-book context, liquidity data and execution signals if they are going to move beyond simple synthetic exposure.
Nasdaq’s decision strengthens the link between traditional market infrastructure and tokenized finance. Depth-of-book data can support trading models, execution tools, backtesting, liquidity analysis and risk systems. When that data becomes easier to integrate into onchain and software-native environments, the gap between traditional finance applications and blockchain settlement systems narrows.
The same shift is visible across institutional tokenization. ICE and OKX recently formed OKXICE for tokenized securities, while exchanges, data providers and asset managers continue testing ways to connect public-market assets with blockchain-based trading and settlement.
Nasdaq’s role is important because it brings a major equity-market data source into the Pyth distribution stack. TotalView adds order-level visibility for Nasdaq-traded securities, while Pyth supplies the marketplace layer used by applications and institutions that want data delivered through programmable infrastructure.
Nasdaq TotalView is now listed through the Pyth Data Marketplace, with coverage starting from depth-of-book data and order imbalance information for securities trading on Nasdaq.
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