Google’s parent company, Alphabet Inc., has made a $1 billion equity investment in the Chicago Mercantile Exchange Group, the exchange responsible for many crypto derivatives products. Terry Duffy, Chairman and Chief Executive Officer, CME Group stated, “through this long-term partnership with Google Cloud, CME Group will transform derivatives markets through technology, expanding access and creating efficiencies for all market participants. The CME Group was behind the first Bitcoin (BTC) futures contract launched in December 2017. According to data from CME Group, the average daily volume in its Bitcoin futures reached 6,243 contracts as of Nov. 3, with 13,417 open interest contracts. The CME stock trades on the NASDAQ exchange, currently trading $220.57 a share as of the time of this writing.

Source: The North Africa Journal November 06, 2021 06:37 UTC