Press release
CME Group and Google Cloud Announce New Chicago Area Private Cloud Region and Co-location Facility for CME Group's Markets
Key milestone paves the way for CME Group to migrate to Google Cloud's industry-first specialized platform for capital marketsCHICAGO and SUNNYVALE, Calif.,
About this update from Cme Group Inc.
[{"type":"text","content":"Key milestone paves the way for CME Group to migrate to Google Cloud's industry-first specialized platform for capital marketsCHICAGO and SUNNYVALE, Calif., June 26, 2024 /PRNewswire/ -- Reaching a significant milestone in the companies' transformational partnership, CME Group and Google Cloud today announced plans to build a new private Google Cloud region, and a co-location facility, in Aurora, Illinois.\n\nThe private Google Cloud region will host Google Cloud's new, industry-first specialized platform designed to support global trading of CME Group's futures and options markets, and offer derivatives traders cloud-based, ultra-low-latency networking, and high-performance computing.\nLocating the platform in the new private Google Cloud region in the Chicago area will allow CME Group's clients to utilize existing connectivity options and access points to other global markets. Additionally, CME Group's clients can choose between self-managed infrastructure in the co-location facility or Google Cloud's specialized infrastructure-as-a-service offering, both with equal network latency to the exchange.\nThe new specialized platform will enable a number of benefits for CME Group's clients, including expanded flexibility, strengthened operational efficiencies, and increased access to cloud services, and artificial intelligence (AI) capabilities, all of which will deepen the value proposition for market users around the globe. For example, CME Group clients will be enabled to rapidly experiment, test, and deploy new strategies without impacting their production trading environments.\n\"This is a significant step forward in our partnership with Google Cloud that is revolutionizing our industry,\" said CME Group Chairman and Chief Executive Officer Terry Duffy. \"Located within close proximity to our current data center campus, and with disaster recovery facilities in Dallas, Texas, Google Cloud's new specialized platform will extend the benefits we can provide to our clients through next-generation cloud technology, expanded access and efficiencies, a broader range of customized connectivity options, and faster product development, with minimal disruption to their current operations.\" \nIn addition to the capabilities offered through the new platform, market participants that migrate to the cloud can benefit from Google Cloud's globa...