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Cooling Failure Shuts Global Futures Trading
28 Nov
Summary
- A cooling system failure at a key data center halted all CME futures and options trading.
- The outage froze price discovery for oil, gold, FX, and U.S. equity futures globally.
- CME and data center teams are working urgently to restore full operations.
Global futures and options trading came to a standstill on November 28, 2025, following a significant cooling system failure at the CyrusOne CHI1 data center. This outage, originating late on November 27, 2025, led to the complete shutdown of CME's Globex electronic trading platform, impacting price discovery across oil, gold, FX, and U.S. equity futures.
The failure affected critical infrastructure, necessitating the cessation of trading on CME's platforms and related markets. Engineers are actively working to restart chillers and deploy temporary cooling solutions, while CME staff focus on stabilizing the data center for a system reboot. The exact timeline for full restoration remains uncertain.
This rare, broad halt at CME, the world's largest derivatives exchange operator, disrupted markets during a sensitive period for commodities. The impact was particularly felt by Asian and European traders operating with stale prices. The exchange has warned that price updates may be delayed even after the system restarts.
