CME Data Center Bolsters Backup Cooling After 10-Hour Outage

Core Insights - The CME Group experienced a significant outage due to a cooling system failure at its data center operated by CyrusOne, leading to a 10-hour disruption in trading across global markets [1][4][5] - CyrusOne has since restored operations and enhanced cooling capacity to prevent future incidents, indicating a focus on improving infrastructure reliability [2][6] Group 1: Incident Overview - The outage occurred on Friday, affecting trading in various markets including gold, oil, and interest rates, with disruptions felt from Tokyo to London [5][6] - Temperatures at the data center exceeded 100°F (38°C) during the incident, despite existing redundancy measures [7] Group 2: Operational Response - Futures trading resumed normally on Sunday evening, with minor fluctuations in contracts, indicating a return to stability [3] - CME's decision not to switch to a backup facility during the outage was based on initial assessments suggesting a brief disruption [4] Group 3: Market Implications - The incident highlighted vulnerabilities in global markets that depend on a few dominant exchanges, raising concerns about CME's contingency plans and reliance on the data center sold to CyrusOne in 2016 [6][9] - The Commodity Futures Trading Commission is monitoring the situation, reflecting regulatory awareness of the incident's impact on market stability [9]