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Oct. 15, 2026 by Katherine Doherty & Ilena Peng, Bloomberg Intercontinental Exchange Inc. (ICE), is planning to offer contracts for betting on future cattle and hog prices, competing with longtime incumbent CME Group Inc as it moves its systems to the cloud. The first cattle and hogs futures contracts will be listed before the end of the year, targeting a Dec 7 launch, according to ICE executives. The exchange operator will offer physically settled cattle futures, as well as three cash-settled contracts for cattle and hog prices, all pending regulatory review. CME, the largest U.S. futures exchange, is moving its matching engine for certain instruments to a new Google Cloud data centre. In response, ICE is looking to shake up the industry by providing another option to hedge. "We received significant inbound customer demand from those seeking credible alternatives to what has historically been a singular choice for cattle," Trabue Bland, ICE's senior vice president of futures markets, said in a statement. The debate over CME's move to the cloud has intensified among trading firms and the agriculture community since the exchange announced its plans for the new system, which was slated to be located in Dallas, according to people familiar with the matter who asked not to be identified discussing a private matter. Some firms have expressed concern that the shift might increase costs and slow trading speeds, two of the people said. Chicago-based CME, which has offered cattle and hog trading since the 1960s, has previously said that moving its tech infrastructure to the cloud can help it control costs, create real-time analytical capabilities and increase efficiencies. Outgoing chief executive officer Terry Duffy has said he would not put products in the cloud unless they are "better than what I have today." CME said on Monday in a statement that a previously disclosed move of its livestock markets to Dallas won't have to go along as planned, since a newly built data centre in Aurora, Illinois, is coming online faster than expected. Dallas will still have a disaster recovery facility, but the interim move of the primary market will no longer be required, a company representative said. To read the entire article click here. Tweet |
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