Latest news with #GoogleCloudUniversalLedger
Finextra
25-07-2025
- Business
- Finextra
CME completes first phase of testing on Google Cloud
Trading venue CME Group has revealed more about its plan to introduce tokenisation services via its link up with Google Cloud 0 This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community. Back in March, CME Group announced that it was extending its deal with Google Cloud to include a number of use cases involving tokenisation and wholesale payments. Four months on, the company has issued an update, stating that it has completed the first phase of integration and testing of Google Cloud Universal Ledger which is expected to be used for collateral, margin, settlement and fee payments. Speaking on a quarterly earnings call, CME's chief operaitng officer and global head of clearing said: "We've now entered the second phase of testing, focusing on settlement. We are very optimistic about our ability to bring solutions to market in 2026." Sprague added that it was too early to identify specific use cases. 'We're thinking about tokenizing cash and other noncash assets for our current ecosystem, not really looking at the clearing space to start."
Yahoo
26-03-2025
- Business
- Yahoo
CME Tests Google's Blockchain Technology in 24-Hour Trading Move
(Bloomberg) -- CME Group Inc. is testing Google Cloud's blockchain technology as it seeks to improve market infrastructure amid the global shift toward round-the-clock trading. They Built a Secret Apartment in a Mall. Now the Mall Is Dying. Why Did the Government Declare War on My Adorable Tiny Truck? How SUVs Are Making Traffic Worse Trump Slashed International Aid. Geneva Is Feeling the Impact. Paris Votes to Make 500 More Streets Car-Free The Chicago-based exchange operator is piloting payment solutions and the tokenization of assets using distributed ledger from Google Cloud, according to a statement Tuesday. CME has completed the first phase of integration and testing of the Google technology, it said. 'Google Cloud Universal Ledger has the potential to deliver significant efficiencies for collateral, margin, settlement and fee payments as the world moves toward 24/7 trading,' CME Chief Executive Officer Terry Duffy said in the statement. CME is one of the first US exchanges to test blockchain technology, as firms and regulators discuss improving the market's infrastructure to support overnight stock trading. President Donald Trump has promised a friendly US regulatory environment for digital assets and blockchain, with several legal cases and investigations targeting crypto companies dismissed or paused since he took power. Trump's administration has encouraged Congress to 'create landmark legislation for common-sense market structure,' Duffy said. Some industry leaders such as Chicago-based trading firm DRW Holding's Don Wilson have long stated that blockchain technology can help move assets quickly, efficiently and with lower costs. His firm backed Digital Asset, a crypto company that developed its own blockchain technology called the Canton Network, which is being used by firms including Goldman Sachs Group Inc. and Moody's Ratings. CME's equity index options on futures offer round-the clock trading through indexes. Futures contracts on other assets, including FX, interest rates, metals and energy, as well as cryptocurrency all trade 24 hours a day, with some breaks during the week. The partnership with Google Cloud is part of a larger deal the pair struck in 2021 to help the derivatives exchange operator with its technology needs. The 10-year alliance is meant to migrate CME's data, clearing services and eventually trading into the cloud. As part of the agreement, Google made a $1 billion equity investment in the exchange operator. Business Schools Are Back Google Is Searching for an Answer to ChatGPT The Richest Americans Kept the Economy Booming. What Happens When They Stop Spending? A New 'China Shock' Is Destroying Jobs Around the World How TD Became America's Most Convenient Bank for Money Launderers ©2025 Bloomberg L.P. Sign in to access your portfolio
Yahoo
26-03-2025
- Business
- Yahoo
Derivatives Trading Giant CME Group to Test Tokenization with Google Cloud
CME Group, a major marketplace in derivatives trading for institutions, said it is exploring tokenization as a way to improve capital market efficiency with U.S. tech giant Google Cloud's distributed ledger technology. The two companies plan to start direct tests with market participants later this year and are aiming to launch new services in 2026, according to a Tuesday press release. CME will use Google Cloud's newly introduced Universal Ledger, a programmable, private network to test how digital asset infrastructure can streamline settlement and clearing. The two giants' move underscores the red-hot tokenization trend that has captivated crypto firms and traditional financial firms. Global asset managers and banks are increasingly exploring ways to use blockchains rails for moving traditional financial instruments such as funds, bonds and other securities. They do so to pursue efficiency gains and faster, cheaper and around-the-clock settlements. Tokenized assets could grow to multitrillion-dollar market by the end of the decade, according to several industry reports from BCG, McKinsey and Bernstein. "As the President and new Administration have encouraged Congress to create landmark legislation for common-sense market structure, we are pleased to partner with Google Cloud to enable innovative solutions for low-cost, digital transfer of value," said Terry Duffy, CME Group Chairman and Chief Executive Officer. "Google Cloud Universal Ledger has the potential to deliver significant efficiencies for collateral, margin, settlement and fee payments as the world moves toward 24/7 trading."
