The extreme environment provided by the Cartwheel ring is analyzed to study its X-ray and optical-UV properties. We compare the Cartwheel with the other members of its group and study the system as a whole in the X-ray band. We analyze the data of the Cartwheel galaxy obtained with XMM-Newton in two different periods (December 2004 and May 2005). We focus on the X-ray properties of the system and use the OM data to obtain additional information in the optical and UV bands. We detect a total of 8 sources associated with the Cartwheel galaxy and three in its vicinity, including G1 and G2, all at L >= 10^39 erg/s, that is the Ultra Luminous X-ray (ULX) source range. The brightest ULX source has been already discussed elsewhere. The spectra of the next three brightest ULX are well fitted by a power-law model with a mean photon index of ~2. We compare the XMM-Newton and Chandra datasets to study the long-term variability of the sources. At least three sources vary in the 5 months between the two XMM-Newton observations and at least four in the 4-year timeframe between Chandra and XMM-Newton observations. One Chandra source disappears and a new one is detected by XMM-Newton in the ring. Optical-UV colors of the Cartwheel ring are consistent with a burst of star formation that is close to reaching its maximum, yielding a mean stellar age of about 40 Myr. The inferred variability and age suggest that high mass X-ray binaries are the counterparts to the ULX sources. The 3 companion galaxies have luminosities in the range 10^39-40 erg/s consistent with expectations. The hot gas of the Cartwheel galaxy is luminous and abundant (a few 10^8 Msol) and is found both in the outer ring, and in the inner part of the galaxy, behind the shock wave front. We also detect gas in the group with L_X ~10^40 erg/s.
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