CME completes first phase of testing on Google Cloud

Editorial

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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.”