CME halts all markets after cooling failure at data center
CME Group halted all markets after a cooling system failure at CyrusOne data centers disrupted operations. The world’s largest derivatives exchange is working to restore trading as the infrastructure issue affects critical temperature controls.
Editor’s note: This story was updated as CME Group provided new information.
FINAL UPDATE: All CME Group markets are open and trading.
UPDATE 2: BrokerTec EU, BrokerTec US Actives and EBS are open and trading. Futures and options markets will open at 7:30am Central Time.
UPDATE 1: CME Group provided an additional update, stating that BrokerTec EU markets are open and trading normally. All other CME Group markets remain halted due to the data center cooling issue at CyrusOne. The exchange continues to work on resolving the situation and promises to provide updates as they become available.
A cooling system failure at CyrusOne data centers disrupted CME Group’s critical infrastructure. The exchange announced on social media that support teams are working to resolve the issue, but no timeline for reopening has been provided.
The halt affects CME’s entire product suite, including equity index futures, interest rate derivatives, foreign exchange contracts, energy products, and agricultural commodities.
What causes data center cooling failures?
Data center cooling systems maintain server temperatures between 64-80°F (18-27°C) to prevent hardware damage and ensure operational stability. Cooling failures typically result from:
HVAC system malfunctions: Chiller breakdowns, compressor failures, or refrigerant leaks can disable primary cooling infrastructure within minutes. Modern data centers operate thousands of servers generating extreme heat loads, requiring constant temperature regulation.
Power supply issues: Cooling systems depend on uninterrupted electricity. Grid disruptions, generator failures, or UPS (uninterruptible power supply) problems can cascade into thermal events even if servers remain powered.
Facility infrastructure: Blocked air vents, failed cooling tower pumps, or clogged filters reduce airflow efficiency. During peak demand periods or extreme weather, marginal cooling capacity can fail catastrophically.
Sensor or control failures: Building management systems rely on temperature sensors and automated controls. Software bugs or hardware faults can trigger emergency shutdowns even without actual overheating.
Some traders questioned the official explanation of the incident. The CME trading halt coincided with a sharp rise in silver prices (to $54 per ounce), putting pressure on short positions. Low market liquidity during the US Thanksgiving holiday coincided with the trading halt.
CyrusOne operates more than 55 data centers in North America alone and over 99 worldwide, and no similar problems were reported by other clients of the provider.
CME processes over 3 billion contracts annually with average daily volumes exceeding 20 million contracts, making any extended outage significant for global markets.
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