US regulators will continue looking at the recent hours-long outage of the Chicago Mercantile Exchange, former Securities and Exchange Commission Chair Gary Gensler said Tuesday. https://t.co/tx8PXtRfzq ...

Nasdaq (NasdaqGS:NDAQ) 2025 Conference December 02, 2025 12:55 PM ET Company ParticipantsSarah Youngwood - CFOConference Call ParticipantsAlexander Kramm - Senior Research AnalystAlexander KrammOnce again, Alex Kramm, Senior Research Analyst at UBS, covering exchanges and business services. And since I just said exchanges, we actually are delighted to have an exchange here today, although that may be a misnomer, but we'll get to that in a minute. But Sarah Youngwood, CFO of Nasdaq here, for the first time a ...

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]

The Illinois-based data center that supports the CME installed backup cooling capacity after a catastrophic outage that roiled world markets on Friday. Most Read from Bloomberg “CyrusOne has restored stable and secure operations at its Chicago 1 (CHI1) data center in Aurora, Illinois,” according to a statement by the company that owns the data center. “To further enhance continuity, we have installed additional redundancy to the cooling systems.” CME Group Inc., which operates one of the world’s largest ...

One of the first signs of trouble arrived at 9:41 p.m. Eastern time on Thursday, when most of Wall Street was shut and traders were still enjoying the Thanksgiving holiday in the US.“Due to technical issues,” CME Group Inc. said in a one-line email to clients, its futures and options “markets have been halted.”The problem, it turned out, was the cooling system at a data-center complex in the suburban town of Aurora, Illinois, some 50 miles (80 kilometers) from Chicago, which serves as the main hub for trill ...

Core Points - Trading across the majority of the Chicago Mercantile Exchange (CME) markets was halted due to a cooling issue at a partner's data center [1][3] - The issue was resolved by around 8:20 a.m. ET, with trading resuming at 7:30 a.m. local time for futures and options [2][3] - The halt had the potential to cause substantial issues across global financial markets, given CME's status as the world's largest exchange operator by market value [2] Summary by Sections Trading Halt - A cooling problem at CyrusOne data centers led to a halt in trading across many CME markets [1][3] - The halt occurred on a Friday, which is typically a thinner trading day due to the holiday season [3] Resolution and Impact - By 8:20 a.m. ET, CME announced that markets were open and trading had resumed [2] - The resumption of trading could lead to greater volatility during the shortened session due to thinner holiday trading conditions [3]

Core Insights - The Chicago Mercantile Exchange (CME) experienced a significant outage that halted trading of futures and options, impacting multiple markets and contracts worth trillions of dollars [1][2] - The outage lasted for over nine hours, with services gradually resuming after the initial alert [1] - The incident highlights the critical role CME plays in global markets, as traders sought alternatives during the disruption [3] Trading Impact - The outage disrupted trading in S&P 500 futures, EBS foreign exchange platform, Treasuries, and US crude oil [2] - Traders reported difficulties in pricing equity index options and expressed concerns over liquidity when seeking alternatives to CME [3] Market Statistics - In October, CME averaged over 26 million derivatives contracts traded daily [3] - On November 20, open interest in CME's US Treasury futures and options reached an all-time high of 35.1 million contracts, with approximately $1 trillion of notional value traded daily in E-mini S&P 500 and Nasdaq 100 futures [4] Historical Context - Exchange outages have become more frequent, with technology issues affecting pricing across global platforms [5] - Previous incidents include a June 2024 glitch at the New York Stock Exchange that erroneously halted trading on about 40 stocks and a disruption in Nasdaq premarket trading earlier that year [5] - The London Stock Exchange Group also faced multiple outages at the end of 2023 [6]

Core Insights - A significant data center outage at Cyrus One in Illinois caused a halt in futures and options trading for over 10 hours, marking one of the longest outages in years for CME Group [1][10] - Trading resumed mid-morning on Friday, but the outage occurred during a holiday-shortened session, leading to lighter trading volumes and brokers operating without live prices [2][3] Company Overview - CME Group, based in Chicago, is the largest exchange operator by market value, processing $1.5 trillion in equity index futures and options daily, along with $9.6 trillion in notional value for interest-rate bets [9] - The company has a historical background, originally founded as the Chicago Butter and Egg Board in 1898, and operates major exchanges including the New York Mercantile Exchange and the Chicago Board of Trade [11] Technical Issues - The outage raised concerns about the reliability of trading platforms, as traders were unable to close positions, potentially leading to significant costs [4] - This incident is one of the worst outages for CME in recent years, with previous outages occurring in 2014 and 2019 due to technical problems [10] Market Impact - The timing of the outage during a holiday period reduced its immediate impact, but experts warned that thin trading volumes could lead to larger price movements [8] - Average daily derivatives volume for CME was reported at 26.3 million contracts in October, indicating a substantial trading activity prior to the outage [10]

Group 1 - The Chicago Mercantile Exchange (CME) restored most trading operations after an hours-long outage due to issues at a data center [1] - Shares of CME Group (CME) experienced a dip in the premarket session following the outage news [1] Group 2 - Shares of Tilray Brands (TLRY) fell before the US market opened after the company announced a one-for-ten reverse stock split of its common stock [1] Group 3 - Shares of Oracle (ORCL) declined in early trading after Morgan Stanley indicated that a risk gauge on Oracle Corp.'s debt reached a three-year high in November [1]

Core Viewpoint - CME Group experienced a technical glitch that temporarily froze futures trading on the Chicago Mercantile Exchange, leading to operational disruptions before most functions were restored [1][3][4]. Group 1: Trading Operations - Futures and options trading on the Chicago Mercantile Exchange was halted for several hours due to a data center fault, impacting contracts linked to major indices like the S&P 500 [3][4]. - The halt lasted longer than a previous outage in 2019, highlighting the significance of CME Group and its Globex electronic trading platform [4]. Group 2: Market Impact - CME shares remained mostly steady, while shares of competitors such as Intercontinental Exchange, Nasdaq, and Cboe Global Markets saw slight increases alongside the broader market [2]. - The trading session following the Thanksgiving holiday typically experiences lower volumes, with the US stock market closing early at 1 p.m. local time [3].