CME Group’s market data will soon be accessible from anywhere in the world, as long as there’s an internet connection, with the derivatives marketplace announcing this Monday that it has partnered with the Google Cloud Platform.
Specifically, CME Group’s real-time futures and options market data will be available on the Google Cloud Platform (GCP) from November 17 this year. Under the agreement, market participants will be able to access the data via the cloud from anywhere in the world, as long as they have an internet connection, through Google Cloud’s global network.
Through the global network, customers of CME Group will be able to access all real-time data currently available across all of its marketplaces. This includes all CME Globex market data as well as third-party data sources.
Commenting on the partnership, Trey Berre, CME Group Global Head of Data Services, said: “Our clients around the world increasingly are looking for quality real-time data within the cloud.
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“This innovative collaboration with Google Cloud will not only make it easier for our clients to access the data they need from anywhere with an internet connection, but will also make it easier than ever to integrate our market data into new cloud-based technologies.”
Collaboration poses expansion opportunities for CME Group
The partnership will allow the derivatives marketplace operator to significantly expand its client base and the reach of its data by using the new connectivity model, which simplifies data access for end-users.
Speaking on the collaboration, Tais O’Dwyer, Global Director of Financial Services Strategy and Solutions, Google Cloud continued: “This initiative with CME Group is the latest example of how Google Cloud is committed to working with the financial sector to offer creative, new ways to leverage real-time market data.
“Pulling from our expertise in data management and our global network, we will continue to engage with key financial services companies like exchanges to help them transform business and meet their customers’ needs.”