Hudson River Trading Joins Growing Pyth Network
NEW YORK–(COMMERCIAL THREAD) – Hudson River Trading, a leading quantitative trading company with an established presence in the global financial and cryptocurrency markets, today announced that it has joined the Pyth Network, an Oracle solution new generation engineered to bring real-world data down a sub-second time scale chain. HRT will provide real-time US stocks and crypto price data to a node in the Pyth network.
Founded in 2002, HRT employs over 500 people worldwide and implements a quantitative approach to problem solving. The company manages nearly 10% of daily stock trading volume in the United States and will provide stocks and crypto data to the Pyth network.
The Pyth network is built on Solana, a blockchain that can handle 50,000 transactions per second, making it well suited for the timely receipt and distribution of rapidly changing data from a diverse network of data providers. trusted as HRT. The Pyth network is also designed to be a cross-bridge project running on other leading blockchains to provide seamless and interoperable solutions between platforms.
“HRT is at the forefront of innovation in the world of automated trading and our teams thrive on the enthusiasm to be at the forefront of new technologies and new projects,” said Brad Vopni, Head of Digital Assets at HRT. “This is why we were eager to be part of the Pyth network as we harness the power of decentralized finance to create something that can transform our financial markets.”
“With their scientific and research-driven approach to trading financial products, we are delighted to welcome HRT to the Pyth network,” said Michael Cahill, Business Development Manager, Digital Assets, EMEA, of Jump Trading Group. “Key market data from HRT will help this oracle solution become even more powerful and we look forward to seeing the impact it will have on decentralized finance and our market. ”
About Hudson River Trading
HRT was founded in New York in 2002 by a small team of mathematicians and computer scientists, with a focus on the application of automation to financial markets. Today, HRT employs more than 500 people in offices in North America, Europe and Asia.
HRT trades in more than 200 markets around the world and manages almost 10% of the daily volume of US stock transactions.
HRT’s crypto business is traded in more than 25 markets around the world, 24/7.
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, inexpensive way to chain this unique data and securely aggregate it. For more information on the Pyth network, please visit pyth.network.