Get Custom Quotes, Info & More from Multiple Providers At Once.
LiquidityFinder
November 4, 2021

Google invests $1 billion in CME as CME Group Signs 10-Year Partnership with Google Cloud

Novermber 04, 2021 - CME Group and Google Cloud have announced a 10-year strategic partnership to accelerate CME Group's move to the cloud and transform how global derivatives markets operate with technology.

"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," said Terry Duffy, Chairman and Chief Executive Officer, CME Group. "To ensure a smooth transition, we will work closely with clients to implement a phased approach. This partnership will enable CME Group to bring new products and services to market faster – all in a flexible and scalable environment that will create a wide range of opportunities for the marketplace."

Under the agreement, CME Group will migrate its technology infrastructure to Google Cloud beginning next year with data and clearing services, and eventually moving all of its markets to the cloud. According to the press announcement, the partnership will focus on delivering significant benefits to all market participants by:

  • Expanding access: Using Google Cloud's fast, secure, global network, CME Group will be able to scale its infrastructure, while increasing access for more market participants, optimizing costs, and helping onboard new users more easily and quickly.   • Creating real-time data and analytics capabilities: Google Cloud's data analytics and machine learning solutions will help CME Group provide clients with on-demand information and toolkits for developing models, algorithms, and real-time risk management.   • Introducing new products and services: With Google Cloud's technology, CME Group will co-innovate new products, such as risk mitigation tools, analytics services, and user-centric platforms. The two companies will also continue to explore ways to work together on go-to-market initiatives that deliver new innovations for CME Group's customers.   • Increasing efficiencies: By moving to the cloud, CME Group will be able to streamline operations, optimize its IT infrastructure, and automate non-trading operations.   • Driving resiliency in the financial markets ecosystem: As CME Group's trusted cloud provider, Google Cloud will deliver open source technology standards and enhanced cybersecurity protection, underpinned by a global network. "CME Group has a century-long track record of helping investors access new markets and is known for innovation in financial markets," said Thomas Kurian, CEO, Google Cloud. "Bringing together CME Group's best-in-class financial talent with Google Cloud's deep engineering expertise will help accelerate technological innovation in capital markets infrastructure."

To help facilitate the cloud migration for CME Group, Duffy has appointed Ken Vroman to a new role as Chief Transformation Officer.

Google has also made a $1 billion equity investment in a new series of non-voting convertible preferred stock of CME Group.

Categories:
Require Some Guidance in Finding The Right Provider?

Let One of Our Experts Help!

Use the LiquidityFinder Match Matrix to find the right provider for your electrionic trading business!

Get Started

LiquidityFinder

LiquidityFinder was created to take the friction out of the process of sourcing Business to Business (B2B) liquidity; to become the central reference point for liquidity in OTC electronic markets, and the means to access them. Our mission is to provide streamlined modern solutions and share valuable insight and knowledge that benefit our users.

If you would like to contribute to our website or wish to contact us, please click here or you can email us directly at press@liquidityfinder.com.

Be First To Comment.
Featured News on LiquidityFinder
Latest News on LiquidityFinder

To personalize content, provide a optimal experience, tailor and measure engagement; the browsing, navigating and the continous use of this website means you agree to the Terms of Service, Privacy Policy & Security Policy of this website. Your choices on this website will be applied globally throughout the website.

LiquidityFinder & Our Partners

Your behavior, data and actions may be utilized to offer you optimal connections and services by approved and suitable providers fitting your account requirements and website actions. When contacting providers or initiating a provider request, match matrix or expert match review we may share necessary data to evaluate your compatability with our connected partners and suitable providers.