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Google Strikes Deal With CME as Exchange Moves to Cloud

  • 10-year partnership allows CME to move data, markets to cloud
  • Google also makes $1 billion equity investment in CME stock
CME Group Headquarters Ahead Of Earnings Figures
Photographer: Christopher Dilts/Bloomberg
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CME Group and Alphabet Inc.’s Google struck a deal to help the derivatives exchange operator with its technology needs and a plan to move all of its operations to the cloud.

As part of the agreement, Google also made a $1 billion equity investment in a new series of non-voting convertible preferred stock of CME Group, the companies said Thursday in a statement. The 10-year partnership will allow CME to first move its data and clearing services to Google Cloud, then eventually its trading and other markets.