Google Cloud to invest $1 Billion in CME Group as part of 10-year partnership

guest · Nov 4, 2021

Google Cloud to invest $1B in CME Group as part of 10-year partnership
November 4, 2021
https://www.zdnet.com/article/google-cloud-to-invest-1b-in-cme-group-as-part-of-10-year-partnership/

Google Cloud is making a $1 billion equity investment in CME Group, the companies said Thursday, as part of a 10-year strategic partnership between the century-old derivatives marketplace and the cloud giant. CME Group, for its part, will begin moving its technology infrastructure to Google Cloud next year.

CME Group plans to begin the migration with its data and clearing services and will eventually move all of its markets to the cloud. It plans to take a phased approach to the migration, working closely with clients to ensure a smooth transition as it introduces new products and services.

"Through this long-term partnership with Google Cloud, CME Group will transform derivatives markets through technology, expanding access and creating efficiencies for all market participants," CME Group Chairman and CEO Terry Duffy said in a statement.
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Financial services is one a handful of key verticals that Google Cloud has targeted. The sector is increasingly turning to the cloud to enable new capabilities.
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Google Cloud to invest $1 Billion in CME Group as part of 10-year partnership

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