Chainlink expands data streams to cover multitrillion-dollar U.S. stock market

Core Insights - Chainlink has expanded its Data Streams product to provide 24/5 coverage for U.S. stocks and exchange-traded funds, enabling decentralized trading platforms to price equities during pre-market, post-market, and overnight sessions [1][2] Group 1: Product Expansion - The upgrade addresses a liquidity gap in on-chain trading of real-world assets, as previous U.S. stock feeds only covered regular market hours, leading to inaccurate pricing during off-hours [2] - The Data Streams product is distinct from Chainlink's Price Feeds, specifically designed for U.S. equities to operate on-chain [2] Group 2: Operational Model - Data Streams operate on a "pull" model, delivering sub-second updates only when a trade occurs, which supports high-frequency trading and reduces network gas costs associated with constant on-chain reporting [3] Group 3: Additional Features - The expanded feeds include metadata such as market status flags and bid/ask spreads, essential for protocols to adjust risk parameters during overnight trading [4] - The 24/5 data rollout is part of a broader initiative to replicate the full lifecycle of traditional assets on-chain, with collaborations involving Swift, Euroclear, and DTCC to automate corporate actions [4][5] Group 4: Market Impact - Major derivatives exchanges like BitMEX and Lighter are utilizing the product to offer perpetual futures contracts on U.S. stocks and ETFs [7] - Chainlink's announcement coincides with the NYSE's plans to introduce a blockchain-based tokenized stocks and ETF trading venue later this year [7]