Google and CME to Build New Facility to Move Trading Into Cloud

Alphabet Inc.’s Google will work with CME Group Inc. to build a new cloud-computing network that will enable the exchange operator to shift its futures and options trading into the cloud.

The two firms will develop cloud and colocation facilities — space rented to clients for their own IT equipment — next to CME’s existing data center in Aurora, Illinois, executives said Wednesday. Construction will start later this year and the transition will happen in phases, they said.

CME and Google began a 10-year alliance in 2021 to migrate data, clearing services and eventually trading into the cloud. As ...