CME Group and Google Cloud Announce New Chicago Area Private Cloud Region and Co-location Facility
Customer Company Size
Large Corporate
Region
- America
Country
- United States
Product
- Google Cloud
- BigQuery
- AlloyDB
- Vertex AI
Tech Stack
- Cloud Computing
- AI and Machine Learning
- Data Analytics
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Digital Expertise
- Productivity Improvements
Technology Category
- Infrastructure as a Service (IaaS) - Private Cloud
- Analytics & Modeling - Machine Learning
- Analytics & Modeling - Predictive Analytics
Applicable Industries
- Finance & Insurance
Applicable Functions
- Business Operation
Services
- Cloud Planning, Design & Implementation Services
- Data Science Services
About The Customer
CME Group is the world's leading derivatives marketplace, enabling clients to trade futures, options, cash, and OTC markets. It offers a wide range of global benchmark products across all major asset classes, including interest rates, equity indexes, foreign exchange, energy, agricultural products, and metals. CME Group operates through various platforms such as CME Globex for futures and options trading, BrokerTec for fixed income trading, and EBS for foreign exchange trading. It also provides central counterparty clearing services through CME Clearing. With a focus on empowering market participants worldwide, CME Group aims to help clients efficiently manage risk and capture opportunities. The company is known for its innovative approach and commitment to delivering significant benefits to all market participants by expanding access, creating real-time data and analytics capabilities, and increasing efficiencies.
The Challenge
CME Group, a leading derivatives marketplace, is seeking to enhance its operational capabilities and offer its clients improved access to global trading markets. The challenge lies in migrating to a cloud-based infrastructure that can support the high demands of futures and options trading, which requires ultra-low-latency networking and high-performance computing. The existing infrastructure needs to be upgraded to provide expanded flexibility, operational efficiencies, and increased access to cloud services and AI capabilities. Additionally, CME Group aims to enable its clients to experiment, test, and deploy new strategies without impacting their production trading environments.
The Solution
CME Group and Google Cloud have partnered to build a new private Google Cloud region and a co-location facility in Aurora, Illinois. This new infrastructure will host Google Cloud's specialized platform designed to support global trading of CME Group's futures and options markets. The platform will offer cloud-based, ultra-low-latency networking and high-performance computing, allowing CME Group's clients to utilize existing connectivity options and access points to other global markets. 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. The new platform will enable expanded flexibility, strengthened operational efficiencies, and increased access to cloud services and AI capabilities. It will also allow clients to rapidly experiment, test, and deploy new strategies without impacting their production trading environments. Additionally, market participants that migrate to the cloud can benefit from Google Cloud's global network and innovative AI and data capabilities, including products like BigQuery, AlloyDB, and Vertex AI.
Operational Impact
Quantitative Benefit
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