U.S. Markets close in 5 hrs 16 mins
  • S&P 500

    4,577.59
    +44.83 (+0.99%)
     
  • Dow 30

    35,310.01
    +281.36 (+0.80%)
     
  • Nasdaq

    14,552.58
    +212.33 (+1.48%)
     
  • Russell 2000

    2,082.06
    +19.28 (+0.93%)
     
  • Crude Oil

    87.00
    +0.04 (+0.05%)
     
  • Gold

    1,847.20
    +4.00 (+0.22%)
     
  • Silver

    24.61
    +0.38 (+1.56%)
     
  • EUR/USD

    1.1346
    -0.0001 (-0.0113%)
     
  • 10-Yr Bond

    1.8270
    0.0000 (0.00%)
     
  • Vix

    22.20
    -1.65 (-6.92%)
     
  • GBP/USD

    1.3644
    +0.0032 (+0.2374%)
     
  • USD/JPY

    114.0780
    -0.2750 (-0.2405%)
     
  • BTC-USD

    43,221.73
    +1,127.73 (+2.68%)
     
  • CMC Crypto 200

    1,028.66
    +33.39 (+3.36%)
     
  • FTSE 100

    7,564.44
    -25.22 (-0.33%)
     
  • Nikkei 225

    27,772.93
    +305.70 (+1.11%)
     

UPDATE 1-Google to invest $1 bln in CME Group, agrees cloud computing deal

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

(Adds details on the deal)

Nov 4 (Reuters) - Alphabet Inc's Google has invested $1 billion in CME Group and has struck a separate deal to move the futures exchange operator's trading systems to the cloud, the companies said on Thursday.

Under the terms of the 10-year partnership between Google and CME, the Chicago-based exchange operator will begin moving its technology infrastructure to Google Cloud next year.

The deal with CME marks a big win for Google's cloud business, which competes against Amazon.com Inc and Microsoft Corp for large, lucrative contracts from blue-chip Fortune 500 companies.

The deal also gives Google a foothold in the financial services sector, which is starting to invest big money on cloud computing services.

Google's $1 billion equity investment was in the form of non-voting convertible preferred stock of CME, the companies added.

The partnership with Google would help CME provide easy access for more market participants, optimize costs and streamline IT infrastructure and other operations, the companies said.

Last year, Amazon and two stock exchanges - Singapore Exchange SGX and London-based Aquis Exchange - undertook a pilot program which they said https://www.reuters.com/article/exchange-cloud-amazon-com-int-idUSKBN2801RQ showed moving share trading to cloud computing from costly physical servers could save money and reduce the potential for outages.

(Reporting by Manya Saini in Bengaluru, additional reporting by Niket Nishant; Editing by Krishna Chandra Eluri)