A data center cooling failure at CME Group’s Chicago site froze global derivatives trading for hours, exposing vulnerabilities in financial infrastructure.

The post Global Futures Reopen After CME Suffers Data Center Cooling Failure appeared first on TechRepublic.

A data center cooling failure at CME Group’s Chicago site froze global derivatives trading for hours, exposing vulnerabilities in financial infrastructure.

The post Global Futures Reopen After CME Suffers Data Center Cooling Failure appeared first on TechRepublic.

The Chicago Mercantile Exchange faced one of its most disruptive trading incidents in years after a cooling failure at a major Illinois data center forced a halt that stretched for roughly 10 hours, freezing markets across multiple regions and igniting accusations of manipulation from frustrated traders.

CME confirmed that trading stopped because of a cooling system malfunction at the CyrusOne-operated facility in Aurora, a site that has served as the backbone of CME’s Globex electronic markets for nearly two decades.

The exchange restored full functionality at 1:30 p.m. UTC on Friday, but the interruption had already rippled through Asia and Europe, where participants were dealing with thin post-Thanksgiving liquidity.

CME Outage on Thin Thanksgiving Liquidity Sparks Questions From Traders

During the outage, traders across asset classes—equities, currencies, commodities, energy, and crypto—reported being unable to close or adjust positions, a scenario that several described as a “nightmare.”

One stock trader, Timothy Bozman, publicly accused CME of allowing a “simple issue” to cripple the entire futures complex, questioning how all major markets could be taken offline by a single point of failure.

Others went further, suggesting that the timing was “too convenient,” given that the halt arrived during the low-volume Asia session on Thanksgiving, when sudden price moves can unfold with limited resistance.

Some traders pointed out that silver futures were approaching a record high near $54 just minutes before prices froze, adding fuel to the speculation and frustration.

The outage was widespread because the Globex platform handles the majority of CME’s volume.

An earlier cryptonews report stated that crude and palm oil markets stopped moving during the halt, while crypto traders saw Bitcoin and Ethereum futures go offline entirely.

The timing added complexity for firms preparing month-end rolls, particularly those needing to adjust Treasury futures or SOFR-linked positions

Several traders later noted that even after markets reopened, delays continued in Treasury futures and certain rate products.

Trading activity had already been muted due to the U.S. Thanksgiving holiday, but the outage further slowed an already quiet session.

One user on X publicly urged CME to cancel losses for trades affected during the freeze, reflecting the broader anxiety of traders locked into moving markets with no ability to act.

CME Suffers Major Outage as It Prepares Shift to 24/7 Crypto Trading in 2026

CyrusOne, which operates more than 55 data centers globally and is backed by KKR and BlackRock’s Global Infrastructure Partners, confirmed the cooling malfunction.

The Aurora facility is well-known among high-frequency trading firms that place servers as physically close as possible to CME’s matching engines to shave off microseconds.

The exchange acknowledged that CME Direct, a platform used for some markets, remained unavailable even after Globex reopened, showing the extent of the disruption.

The incident lasted far longer than a similar 2019 CME outage, and it was the latest reminder of how centralized infrastructure can pose systemic risk in electronic markets.

CME has faced technical issues in the past, including a 2014 outage triggered by a software malfunction affecting agricultural contracts.

Despite the friction, markets resumed and continued adjusting to broader price movements.

Bitcoin futures, which closed on Wednesday at $90,355 before the holiday, reopened at $90,940 on Friday and pushed above $93,000 later in the session as BTC rebounded from its recent low of around $80,522.

Analysts noted that Bitcoin faces resistance near $95,000, but reclaiming that level could reopen the path toward six-figure territory.

The blackout also comes at a moment when CME is expanding its role in the digital asset sector. In October, the exchange said it plans to move its cryptocurrency futures and options into a full 24/7 trading cycle starting in early 2026, subject to regulatory approval.

The firm cited rapidly rising demand for continuous risk management in crypto markets, which never close.

CME said trading will run nonstop on Globex, aside from a brief weekly maintenance window, and weekend transactions will be assigned to the next business day for clearing and settlement.

The post CME Blackout: Traders Cry “Manipulation” After 10-Hour Halt Freezes Markets appeared first on Cryptonews.

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 and options contracts on its Globex platform.

Traders React to CME Outage, Says It’s a “Nightmare”

One trader, who declined to identify, told Reuters that the halt is a “nightmare.”

The CME Group informed traders just before the outage, affecting all futures and options contracts, including major currency pairs.

One user posted on X, asking the firm to cancel losses for any stuck trades.

Further, traders reported that crude oil and palm oil contracts stopped moving during the interruption. Meanwhile, crypto traders took the brunt too as Bitcoin and Ethereum futures on CME went offline during the halt.

The trading halt interrupted active sessions in Asia, especially when liquidity was already thin due to the U.S. Thanksgiving holiday.

“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,” market analyst Tony Sycamore told Reuters.

Bitcoin Slumps Below $91K, Contrasts With 8.32% Weekly Gain

Meanwhile, Bitcoin fell 0.55% to $90,896 over 24h, contrasting with an 8.32% weekly gain. The slight decrease is attributed to $13.4 billion BTC options expiry squeeze.

Approximately 147,000 BTC options expired on November 28, favoring bearish bets.

Besides, BTC tested $91,800 resistance three times in 24h but failed to hold, triggering automated sell orders. The largest crypto is currently trading at $91,24, at press time, per CoinMarketCap data.

The post CME Group Halts Trading, Cites Cooling System Failure at Data Centres appeared first on Cryptonews.