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CME GROUP INC.

(CME)
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Google to invest $1 billion in CME Group, agrees cloud computing deal

11/04/2021 | 09:50am EST
FILE PHOTO: Logo of Google is seen in Davos

(Reuters) - Alphabet Inc's Google has invested $1 billion in CME Group and has struck a separate deal to move the futures exchange operator's trading systems to the cloud, the companies said on Thursday.

Under the terms of the 10-year partnership between Google and CME, the Chicago-based exchange operator will begin moving its technology infrastructure to Google Cloud next year.

The deal with CME marks a big win for Google's cloud business, which competes against Amazon.com Inc and Microsoft Corp for large, lucrative contracts from blue-chip Fortune 500 companies.

The deal also gives Google a foothold in the financial services sector, which is starting to invest big money on cloud computing services.

Google's $1 billion equity investment was in the form of non-voting convertible preferred stock of CME, the companies added.

The partnership with Google would help CME provide easy access for more market participants, optimize costs and streamline IT infrastructure and other operations, the companies said.

Last year, Amazon and two stock exchanges - Singapore Exchange SGX and London-based Aquis Exchange - undertook a pilot program which they said showed moving share trading to cloud computing from costly physical servers could save money and reduce the potential for outages.

(Reporting by Manya Saini in Bengaluru, additional reporting by Niket Nishant; Editing by Krishna Chandra Eluri)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. 0.64% 2789.61 Delayed Quote.-3.71%
CME GROUP INC. -0.24% 223.19 Delayed Quote.-2.31%
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Analyst Recommendations on CME GROUP INC.
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Financials (USD)
Sales 2021 4 710 M - -
Net income 2021 2 569 M - -
Net Debt 2021 999 M - -
P/E ratio 2021 31,2x
Yield 2021 2,95%
Capitalization 80 214 M 80 214 M -
EV / Sales 2021 17,2x
EV / Sales 2022 16,5x
Nbr of Employees 4 370
Free-Float -
Chart CME GROUP INC.
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CME Group Inc. Technical Analysis Chart | CME | US12572Q1058 | MarketScreener
Technical analysis trends CME GROUP INC.
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 19
Last Close Price 223,19 $
Average target price 230,63 $
Spread / Average Target 3,33%
EPS Revisions
Managers and Directors
Terrence A. Duffy Executive Chairman & Chief Executive Officer
John William Pietrowicz Chief Financial Officer & Senior Managing Director
Kevin Dean Kometer Chief Information Officer & Senior MD
Julie Holzrichter Chief Operating Officer & Senior Managing Director
Terry L. Savage Independent Director
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