Fixed Income On Pyth as Fenics Market Data and Two Others Join

Fenics Market Data, OpenYield, and Tradeweb are joining Pyth as data providers, adding institutional fixed income pricing to the Pyth Network which already publishes price information for equities, futures, FX, crypto, prediction markets and commodities.

The move makes fixed income data across D2D OTC, automated electronic trading and benchmark closing prices for government bond trading available 24/7 while being suitable for programmable applications. The integration comes as more asset classes consider continuous trading a possibility in the future. 

This launch makes institutional fixed income data available through a single integration, on the same network that already has seen a number of data publishers, such as Fidelity Investments, Kalshi, and Euronext FX, join in recent months. 

Fenics (the data distribution arm of BGC Group) brings executable dealer-to-dealer OTC pricing from more than $1 trillion in daily transaction volume. OpenYield delivers firm, executable quotes across US Treasuries, corporates, and municipals from its automated bond marketplace. Tradeweb contributes pricing from live electronic trading plus its Tradeweb FTSE Benchmark Closing Prices for UK Gilts, US Treasuries, and European government bonds, the official closing prices behind the FTSE World Government Bond Index. 

Pyth is a decentralised oracle that publishes real-world data onchain across 100 blockchains and provides over 3,000 continuous price feeds from more than 120 institutional data publishers, including global exchanges, market makers, trading firms, and now leading fixed income venues, spanning price formation lifecycle.

Pyth said that while fixed income is a larger market than most equity bourses, the $50bn market data industry has focused firmly on exchange-traded data while pricing in Ficc has remained expensive, fragmented, and hard to access, with much of the market trading over the counter outside standardized public order books. 

Bringing the three new providers onboard Pyth, means applications, trading venues, risk systems, and financial firms can reach institutional fixed income pricing through a single integration while the data can be integrated into a programmable workflow.

“A pattern is forming in how the world’s largest institutions choose to distribute market data. The institutions closest to price formation are increasingly publishing through infrastructure built for continuous markets, onchain finance, autonomous financial applications, and real-time risk systems,” the company said.