Thursday, November 4, 2021

g-f(2)630 THE BIG PICTURE OF THE DIGITAL AGE (11/4/2021), WSJ, Google Invests $1 Billion in Exchange Giant CME, Strikes Cloud Deal

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"g-f" fishing of golden knowledge (GK) of the fabulous treasure of the digital ageDigital Transformation, Cloud-computing industry (11/4/2021)  g-f(2)426 

Lessons learned, WSJ

  • Alphabet Inc.’s Google has invested $1 billion in futures-exchange giant CME Group Inc. and struck a deal to move the company’s core trading systems to the cloud. 
  • The companies said Thursday that their 10-year partnership would allow CME to bring on new users faster, streamline operations and develop new tools with Google technology, such as artificial-intelligence software for monitoring market risks.
  • The CME deal gives Google Cloud a prize client in the sector. With a market capitalization of $79.2 billion, CME is the world’s most valuable exchange operator, a title it recently reclaimed from Hong Kong Exchanges & Clearing Ltd. The Chicago-based company runs an array of markets, from crude oil to gold to stock-market futures.

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            Lessons learned, WSJ

            • Google Cloud is the fourth-largest cloud provider, taking 6.1% of global cloud-infrastructure revenues last year, according to research firm Gartner Inc. The biggest player is Amazon, whose market share last year was more than 40%, followed by Microsoft and Alibaba Group Holding Ltd. , Gartner data shows.
            • Moving CME’s trading systems to the cloud will pose technical challenges beyond those of a typical corporate cloud project.

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            Lessons learned, WSJ

              • Exchanges like CME handle a vast number of price quotes and trades, many submitted by high-speed trading firms accustomed to having the exchanges’ systems process orders in millionths of a second. And if an exchange goes down, it isn’t just an inconvenience, but can have ripple effects throughout the financial markets.
              • Despite such difficulties, exchanges have begun to dip their toes into cloud technology. Nasdaq Inc. said last year that it planned to move its markets to the cloud over the next decade. The New York-based company hasn’t yet said which tech provider it will use.
              • CME will begin moving its technology infrastructure to Google Cloud next year, the companies said. Initially, the companies plan to focus on CME’s data and clearing services, which aren’t as sensitive to speed as the core trading systems.

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              • Category 2: The Big Picture of the Digital Age
              • [genioux fact deduced or extracted from WSJ]
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