CME Group and Google Cloud have reached a significant milestone in their partnership, announcing plans to build a new private Google Cloud region and colocation facility in Aurora, Illinois. This new specialized platform will support global trading of CME Group’s futures and options markets, offering derivatives traders ultra-low latency networks and high-performance computing.
The platform will enable CME Group clients to benefit from greater flexibility, operational efficiency, and access to cloud services and AI capabilities. This will enhance CME Group’s value proposition for market users worldwide, allowing customers to experiment, test, and implement new strategies quickly without disrupting their current operations.
The collaboration between CME Group and Google Cloud aims to revolutionize the industry by leveraging cloud computing, data analytics, and AI technologies. By migrating to the cloud, market participants can take advantage of Google Cloud’s global network, data products, and machine learning platforms to enhance their trading capabilities.
Development of the specialized platform is underway, with key capabilities available for testing in the Google Cloud Dallas region. The new private Google Cloud region in Aurora is expected to begin construction this year, with CME Group providing clients with ample notice before migrating to the new platform. CME Group’s cash markets will continue to operate at their current facilities.
Since announcing their partnership in 2021, CME Group and Google Cloud have been working on key initiatives to enhance CME Group’s cloud-based data platform and migrate critical clearing applications to the cloud. Both companies are committed to delivering significant benefits to market participants by expanding access, introducing new products and services, and improving efficiency.
CME Group is the world’s leading derivatives exchange, offering a wide range of global benchmark products across major asset classes. With exchanges for futures, options, cash, and OTC markets, CME Group empowers market participants to manage risk and capture opportunities efficiently.
Google Cloud provides a comprehensive suite of cloud services, including AI, infrastructure, data, security, and collaboration tools designed for today and the future. Customers worldwide trust Google Cloud as their technology partner for transforming their organizations.
Overall, the partnership between CME Group and Google Cloud aims to innovate capital markets infrastructure worldwide, bringing together the best of cloud computing, data analytics, and AI technologies to enhance trading capabilities and efficiency for market participants globally.
Article Source
https://www.cmegroup.com/media-room/press-releases/2024/6/26/cme_group_and_googlecloudannouncenewchicagoareaprivatecloudregio.html
