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

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.
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.