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]

CME Group has halted trading across its Globex platform, affecting a wide range of contracts tied to stocks and crypto. The temporary suspension is due to “a cooling issue at CyrusOne data centres,” a statement on its website read. “Support is working to resolve the issue in the near term and will advise clients of Pre-Open details as soon as they are available,” the CME team wrote. CyrusOne operates over 55 data centres across the US, Europe and Japan, Reuters noted. The outage has impacted all futures ...