New Delhi, May 13 -- CME Group and Silicon Data announced a partnership to launch the first-in-class compute futures market later this year, pending regulatory review. The initiative is aimed at establishing a standardized marketplace for an asset class that powers the modern digital economy.

As per an official statement, the new futures contracts are designed to allow traders, financial institutions, AI builders, and cloud-service providers to manage volatility and price risk.

The collaboration targets a multi-trillion-dollar compute market where costs fluctuate based on demand for processing power.

"As the backbone of the digital economy, compute is the new oil of the 21st century," said CME Group Chairman and Chief Executive Officer...