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The Chicago Mercantile Exchange experienced one of its most significant trading disruptions in years due to a cooling failure at a major data center in Illinois, resulting in a halt that lasted approximately 10 hours, affecting markets across various regions and prompting allegations of manipulation from dissatisfied traders.
CME confirmed that trading was suspended as a result of a malfunction in the cooling system at the CyrusOne-operated facility in Aurora, which has been a critical component of CME’s Globex electronic markets for nearly two decades.
Due to a cooling issue at CyrusOne data centers, our markets are currently halted. 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.
— CME Group (@CMEGroup) November 28, 2025
The exchange restored full operations at 1:30 p.m. UTC on Friday; however, the disruption had already affected participants in Asia and Europe, who were navigating thin liquidity following Thanksgiving.
CME Outage on Thin Thanksgiving Liquidity Raises Concerns Among Traders
During the outage, traders across various asset classes—including equities, currencies, commodities, energy, and crypto—reported an inability to close or modify positions, a situation that many described as a “nightmare.”
One stock trader, Timothy Bozman, publicly criticized CME for permitting a “simple issue” to incapacitate the entire futures complex, questioning how a single point of failure could take all major markets offline.
Manipulation at its best. How in the actual $&#@ could the entire Index Futures, FX Futures, Metals futures, Energy Futures, Agriculture Futures markets and options be halted because of a server overheating? A simple issue could take down @CMEGroup entire futures platform? pic.twitter.com/ZwvDJ4WImy
— Timothy Bozman (@MrAmazingBoz) November 28, 2025
Others suggested that the timing was “too convenient,” considering the halt occurred during the low-volume Asia session on Thanksgiving, when sudden price fluctuations can occur with minimal resistance.
Some traders noted that silver futures were nearing a record high of approximately $54 just moments before trading was halted, intensifying speculation and frustration.
The outage was extensive, as the Globex platform processes the majority of CME’s trading volume.
An earlier report indicated that crude and palm oil markets ceased trading during the halt, while crypto traders experienced a complete shutdown of Bitcoin and Ethereum futures.
This timing complicated matters for firms preparing for month-end rolls, especially those needing to adjust Treasury futures or SOFR-linked positions.
Several traders later observed that even after markets reopened, there were ongoing delays in Treasury futures and certain rate products.
Trading activity had already been subdued due to the U.S. Thanksgiving holiday, but the outage further dampened an already quiet session.
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Official communication from CME Group on their website has been posted. It’s officially ruled as a technical halt. Carry on.
I’d expect your prop firm to cancel losses for any stuck trades but we’ll see. $NQ $GC $ES pic.twitter.com/kknVpFj7Hj— KD (@KingDipsX) November 28, 2025
One user on X publicly called on CME to cancel losses for trades impacted during the freeze, reflecting the widespread anxiety among traders who were unable to act in a volatile market.
CME Experiences Significant Outage as It Prepares for 24/7 Crypto Trading in 2026
CyrusOne, which operates over 55 data centers worldwide and is supported by KKR and BlackRock’s Global Infrastructure Partners, confirmed the cooling malfunction.
The Aurora facility is well-regarded among high-frequency trading firms that position servers as close as possible to CME’s matching engines to minimize latency.
The exchange acknowledged that CME Direct, a platform utilized for certain markets, remained unavailable even after Globex resumed operations, highlighting the extent of the disruption.
The incident lasted significantly longer than a similar outage in 2019, serving as a reminder of the systemic risks associated with centralized infrastructure in electronic markets.
CME has encountered technical difficulties in the past, including a 2014 outage caused by a software malfunction affecting agricultural contracts.
Despite the challenges, markets resumed and continued to adjust to broader price movements.
Bitcoin futures, which closed on Wednesday at $90,355 before the holiday, reopened at $90,940 on Friday and surpassed $93,000 later in the session as BTC recovered from its recent low of around $80,522.
Source: Cryptonews
Analysts observed that Bitcoin faces resistance near $95,000, but reclaiming that level could pave the way toward six-figure territory.
The outage also coincides with CME’s expansion in the digital asset sector. In October, the exchange announced plans to transition its cryptocurrency futures and options to a full 24/7 trading schedule starting in early 2026, pending regulatory approval.
The firm cited a rapidly increasing demand for continuous risk management in crypto markets, which operate around the clock.
CME stated that trading will occur continuously on Globex, except for a brief weekly maintenance window, and weekend transactions will be processed on 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.
