Reported 9 months ago
Alphabet Inc.'s Google and CME Group Inc. will collaborate to build a new cloud-computing network allowing the shift of futures and options trading into the cloud. The facility will be located next to CME's data center in Aurora, Illinois, with construction starting later this year in phases. This initiative follows a 10-year alliance between CME and Google to migrate data, clearing services, and trading into the cloud, with Google making a $1 billion equity investment in the exchange. The move aims to enable market participants to leverage specialized cloud services for increased efficiency, with CME providing 18 months' notice before the transition to the new platform.
Source: YAHOO