CME Group to Provide Market Data Through Google Cloud

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 Cloud The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing conc The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing conc Read this Term 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.

"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 Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term 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."