CME sees progress in cloud migration, gains in market data revenue
Two agricultural products will be the first to move to cloud this year. The exchange group is also testing tokenization with banks and clearing members.
CME Group’s less latency-sensitive markets will be the first to migrate to the cloud, CEO Terry Duffy told investors during the exchange group’s Q1 earnings call today, April 22. Two agricultural products are slated to move by the end of this year.
The move marks a significant milestone in the 10-year, $1 billion deal inked between CME and Google in 2021. Through the deal, CME will move its technology infrastructure to the Google Cloud Platform (GCP), with the exchange’s data and clearing
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