CME joins startup revolution with FinTech Sandbox partnership

North American multinational derivatives marketplace CME Group Inc (NASDAQ:CME) and FinTech Sandbox, a nonprofit whose mission is to promote entrepreneurship and innovation globally in the financial technology sector, today announced a new data agreement. CME Group will provide FinTech Sandbox startups with free access to historical futures and options data to promote technological innovation that […]

North American multinational derivatives marketplace CME Group Inc (NASDAQ:CME) and FinTech Sandbox, a nonprofit whose mission is to promote entrepreneurship and innovation globally in the financial technology sector, today announced a new data agreement.

CME Group will provide FinTech Sandbox startups with free access to historical futures and options data to promote technological innovation that will benefit the industry.

Craig Mohan, CME Group Managing Director of Market Technology and Data Services today stated

“We formed this agreement with FinTech Sandbox because we strongly believe in supporting entrepreneurs in the global FinTech community. The futures industry was built on innovation and we are excited to help startups make advancements in areas that will positively impact our customers.”

“Access to the kind of deep, quality data that CME Group is making available gives startups in our program a tremendous leg up in identifying problems to solve and in building products to the robust standards of large financial institutions,” said Jean Donnelly, Executive Director of FinTech Sandbox.

For quite some time, the large, technology-led venues of Chicago have championed developement of leading-edge systems, mostly doing so by using propretary solutions. ICE and CME have moved away from the traditional style of trading venue and are now not just executing venues but institutional technology innovators, and this move highlights an increasing interest by such large companies in stoking new enterprises that can contribute toward innovation.

The six-month program includes a robust set of data feeds and APIs from a wide array of data partners, cloud hosting from industry-leading infrastructure partners and membership in a vibrant, global FinTech community.

Read this next

Industry News

FCA took down 14 times more misleading ads in 2022 thanks to technology

The FCA has made significant improvements to the digital tools it uses to find problem firms and misleading adverts. These improvements have enabled it to work through a much larger number of cases compared with 2021.

Executive Moves

HKEX appoints ex-Goldman Sachs Matthew Cheong to lead platform’s focus on derivatives

“He has worked for a number of the world’s leading investment banks and his experience will be invaluable to HKEX as we continue to enhance our derivatives product offerings and build on our innovative and robust platform business, connecting capital with opportunities.”

Digital Assets

Zodia Custody and SBI Digital Asset Holdings launch JV for crypto asset custodian in Japan

“Zodia Custody is both proud and excited to be working with SBI DAH to help set up SBI Zodia Custody; the first tier 1 crypto asset custodian for institutions in Japan.”

Digital Assets

Paxos opens R&D center in Israel to focus on transaction signing and crypto custody security

“Paxos is looking to expand its team in Israel in 2023 and beyond, giving engineers the opportunity to work on cutting-edge financial products and shape the future of the global economy.”

Executive Moves

Stash appoints Liza Landsman as CEO to further grow investing app

Stash is an investing and banking app with over 2 million active subscribers. Its subscription plans start at just $3 a month, and offer a range of products including investing, banking, education, and advice.

Institutional FX

Invast Global ramps up its offering with 10 soft commodity CFDs

Sydney-based prime-of-prime provider Invast Global has expanded its offering with the addition of ten soft commodity CFDs, which increases their index and commodity CFD offering to 35 instruments.

Retail FX

FF Simple and Smart Trades says Goodbye to CySEC authorization

The Cyprus Securities and Exchange Commission (CySEC) confirmed that it has wholly withdrawn the Cyprus Investment Firm (CIF) licenses of FF Simple and Smart Trades Investment Services Ltd.

Crypto Insider

Shining the Light in Crypto’s Dark Places

Something changed in regulators’ minds after the November crash of the FTX crypto exchange.

Executive Moves

Financial Commission Adds Sam Low to Dispute Resolution Committee

The Financial Commission (FinaCom PLC), a dispute resolution service that caters to the financial services industry, has appointed Sam Low as the newest member of its Dispute Resolution Committee (DRC).

<