Google Cloud Market Data from CME Group
The market data provided by the CME Group will be accessible worldwide in the next thirty days. All that’s required is an internet connection that will allow traders on a global level to access derivatives market data through the Google Cloud Program. This comes after the two corporations became partners. The CME Group will allow for real-time options and futures data to be accessible on the GCP platform. It will open on November 17th, 2019 and participants won’t be required to spend any money to acquire these services. The Global Network is also enabling data access from third-party sources and the CME Globex Market; all data is provided in real-time.
The Head of Data Services with the CME Group, Terry Berre, spoke about this partnership. He stated: “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.”
The CME Groups Expansion Opportunities
Most were surprised to find out that the CME Group entered a partnership with Google. It’s not something that conventionally happens in the industry. Regardless, it’s a partnership that will enable the CME Group to expand its clientele base in the derivatives market by a significant amount. This new connectivity model will allow for data to be accessed by an entirely different style of trader, with the access never being more comfortable.
The Global Direction for the Financial Strategy & Solutions Service for Google Cloud, TaisO’Dwyer, spoke on this revolutionary partnership. He stated: “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.”