CME Group, the world’s largest derivatives exchange, suddenly paused trading across multiple asset classes after a cooling failure at one of its key data centers caused a major outage.
The disruption, linked to CyrusOne facilities that host part of CME’s critical infrastructure, brought markets on the popular Globex electronic platform to a standstill. Futures, options, and forex products were all affected.
In a statement shared with Reuters, the company said:
“Due to a cooling issue at CyrusOne data centres, our markets are currently halted. 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.”
Markets Frozen in Place
The freeze hit a wide range of major contracts — including U.S. Treasuries, S&P 500 and Nasdaq 100 futures — which failed to update after the outage began. Commodities weren’t spared either, with gold and oil quotes still out of date as of 07:20 GMT, according to LSEG data.
The impact spread into the foreign exchange world as well. The EBS platform, a major hub for high-volume currency trading, saw delays on major pairs like EUR/USD and USD/JPY — markets that move billions of dollars every day.
Spot forex traders were able to find prices on other venues, but brokers struggled to execute trades without live, accurate quotes. One Asia-based trader told Reuters the outage added to what was already a sluggish post-holiday session:
“It’s been a very slow day here in Asia after the Thanksgiving holiday and this hasn’t helped at all, more so given there is interest to transact at the end of what has been a volatile month.”
Crypto Futures Hit After Record Activity
The timing is notable, as CME recently celebrated a record month in crypto futures trading. In October, average daily volume soared to 26.3 million contracts amid heightened digital-asset speculation.
Trading momentum has since cooled along with the broader crypto market. Still, CME is pressing ahead with new offerings — including spot-quoted futures for XRP and Solana, set to launch next month. The exchange also plans to roll out round-the-clock crypto futures and options in 2026, signaling long-term confidence in the sector.
Also Read: Arthur Hayes: 24/7 Crypto Perps Will Take Over Stock Price Discovery
