Google has invested $1 billion in CME Group
The partnership will allow CME to move its data and clearing services to Google Cloud as early as next year
06.11.2021 - 08:30
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What's new? According to the Wall Street Journal, Google has invested $1 billion in CME Group (Chicago Mercantile Exchange) and concluded a deal to move the futures exchange operator's trading systems to the cloud. The investment was made in the form of non-voting convertible preferred stock.
Information on the Wall Street Journal portal
What are the terms of the deal? Under the terms of a 10-year partnership between Google and CME, the Chicago-based exchange operator will begin moving its technology infrastructure to Google Cloud next year. The main trading systems will be moved first, followed by CME data and clearing services.
What are the advantages of cooperation? The partnership with Google will help CME provide easy access for more market participants, optimize costs and streamline IT infrastructure and other operations. The deal will also give Google a foothold in the financial services sector, which is starting to invest big money in cloud computing services.
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