CME Bitcoin Futures Trading to Run on Google Cloud After $1 Billion Investment From Alphabet

The Google logo is seen outside their headquarters in Mountain View, Calif., on Aug. 18, 2004. Clay McLachlan/Reuters

The CME Group and Google Cloud have entered a 10-year strategic partnership after a $1 billion investment from Google’s parent company Alphabet Inc.

The equity investment was made through the company’s non-voting convertible preferred stock.

What Happened

Under the terms of the deal, CME’s trading systems will be moved to Google Cloud next year.