CME Group Outage Highlights Financial Sector's Reliance on Key Institutions

Last Friday, a data center overheating issue at CME Group, one of the worlds largest derivatives exchanges, caused a ten-hour outage, highlighting the global financial systems reliance on a few key institutions. The incident, which occurred during lower-than-usual trading volumes due to Thanksgiving, resulted in unavailable pricing and stuck trades for users worldwide. The problem originated at a data center in Aurora, Illinois, operated by CyrusOne, and has since been addressed with improved backup cooling systems. However, CME Groups long-term strategy to mitigate its dependence on a single data center remains unclear.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.