Google Cloud Invests $1 Billion in CME Group to Tune Finance-Backing Tech

New Delhi: As the Google Clouds enters into a new 10-year deal with US-based derivatives marketplace CME Group, it has announced a mega investment of $1 billion (roughly Rs. 7,434.9 crore).

The financial services provider will take its processes on to Google Cloud servers. The two firms are planning on developing risk mitigation tools and other user-benefitting platforms for people entering the space of “derivatives”, which are financial instruments instead of assets.

Meanwhile, Google Cloud has also acknowledged the new partnership on Twitter.

“Today, we announced a 10-year strategic partnership with @CMEGroup to increase market access, create efficiencies for clients, and build new products and services for the financial services industry.”