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.
