CME Group completes first phase of Google Cloud’s GCUL
26 March 2025 US
Image: Aryan/stock.adobe.com
CME Group and Google Cloud will pilot solutions for wholesale payments and tokenisation of assets to enhance capital markets efficiency.
According to the firms, CME Group has now completed the first phase of integration and testing of Google Cloud Universal Ledger (GCUL).
GCUL is a programmable, distributed ledger designed to be easy for financial institutions in traditional finance to integrate and use.
It aims to simplify the management of accounts and assets, and facilitate transfers on a private and permissioned network.
“As the President and new administration have encouraged Congress to create landmark legislation for common-sense market structure, we are pleased to partner with Google Cloud to enable innovative solutions for low-cost, digital transfer of value,” says Terry Duffy, CME Group chairman and CEO.
“Google Cloud Universal Ledger has the potential to deliver significant efficiencies for collateral, margin, settlement and fee payments as the world moves toward 24/7 trading.”
Later this year, CME Group and Google Cloud will initiate direct testing with market participants with the intent to launch new services in 2026.
Commenting on the news, Rohit Bhat, general manager, financial services at Google Cloud, adds: “Our core mission is to provide our partners with the most advanced infrastructure, empowering them to accelerate innovation, drive efficiencies, and overcome the complexities inherent in today's financial systems.
“Partnering with CME Group to innovate with GCUL exemplifies this commitment, demonstrating how Google Cloud helps partners transform their businesses through strategic collaborations and modern infrastructure, unlocking significant opportunities for the global financial market.”
According to the firms, CME Group has now completed the first phase of integration and testing of Google Cloud Universal Ledger (GCUL).
GCUL is a programmable, distributed ledger designed to be easy for financial institutions in traditional finance to integrate and use.
It aims to simplify the management of accounts and assets, and facilitate transfers on a private and permissioned network.
“As the President and new administration have encouraged Congress to create landmark legislation for common-sense market structure, we are pleased to partner with Google Cloud to enable innovative solutions for low-cost, digital transfer of value,” says Terry Duffy, CME Group chairman and CEO.
“Google Cloud Universal Ledger has the potential to deliver significant efficiencies for collateral, margin, settlement and fee payments as the world moves toward 24/7 trading.”
Later this year, CME Group and Google Cloud will initiate direct testing with market participants with the intent to launch new services in 2026.
Commenting on the news, Rohit Bhat, general manager, financial services at Google Cloud, adds: “Our core mission is to provide our partners with the most advanced infrastructure, empowering them to accelerate innovation, drive efficiencies, and overcome the complexities inherent in today's financial systems.
“Partnering with CME Group to innovate with GCUL exemplifies this commitment, demonstrating how Google Cloud helps partners transform their businesses through strategic collaborations and modern infrastructure, unlocking significant opportunities for the global financial market.”
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