It's related to the verb "cedere" which has several meanings:
* To yield, give way: This is the most common meaning and is reflected in words like "cede," "precede," "recede," and "concede."
* To go, move, or proceed: This meaning is less common but still relevant in words like "proceed" and "intercede."
The word "cede" itself, meaning to yield or give up, is derived directly from the Latin "cedere".