Google investing USD 1 billion in derivates markets company
Google Cloud and global markets company CME Group announced a 10-year strategic partnership with Google investing USD 1 billion in CME Group. CME is moving its technology infrastructure to Google Cloud.
The migrating of GME technology infrastructure to Google Cloud will start next year with data and clearing services. Eventually, the company will move all of its markets to the cloud.
Google’s USD 1 billion equity investment is in the form of non-voting convertible preferred stock of CME, the companies said..
“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.
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