Google invests $1B in CME Group along with 10-year Cloud deal By

Google’s parent company Alphabet (NASDAQ:) has made a $1 billion equity investment in the Chicago Mercantile Exchange Group, the exchange responsible for many crypto derivatives products.

In a Thursday notice to investors, the CME Group (NASDAQ:) announced the $1 billion investment from Alphabet in addition to a 10-year strategic partnership with Google Cloud aimed at accelerating the exchange’s move to the Cloud and changing the way global derivatives markets operate. Google made the investment through the company’s nonvoting convertible preferred stock.

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