Posted Jun 28, 2024, 3:24 PM
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Registered User
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Join Date: Apr 2013
Location: Chicago & Philly
Posts: 2,696
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Even though CME has mentioned looking into moving their data centers to other states, their traders literally won't allow them to cause they still want the fractions of a second advantage by being located in Chicago. Location still matters even in the modern era
CME and Google to build new facility to move trading into the cloud
Quote:
Alphabet Inc.’s Google will work with CME Group Inc. to build a new cloud-computing network that will enable the exchange operator to shift its futures and options trading into the cloud.
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The decision to keep the data center in the Chicago area comes after market makers and high-speed trading firms opposed a move elsewhere, according to people familiar with the matter. It highlights how difficult it would be for the exchange to move away from the region, which has seen a number of high-profile corporate departures in recent years including Ken Griffin’s Citadel, Boeing Co., and Caterpillar Inc.
Traders like to have infrastructure near or in the data center to ensure information travels faster, giving them a slim advantage over others that aren’t nearby. Building out infrastructure elsewhere would take time and result in costs for firms, said the people, who asked not to be identified because the discussions are private. Talks between the exchange and traders included a potential move to Google data centers in Virginia and Ohio, the people said.
“We decided to build the new facility in Aurora to ensure minimal disruption for our clients,” CME’s Duffy said.
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https://www.chicagobusiness.com/fina...-trading-cloud
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