CHICAGO & RALEIGH, N.C., Apr 14, 2014 (BUSINESS WIRE) — 6fusion, the company standardizing economic measurement of IT infrastructure and enabling a global marketplace for buyers and sellers, and CME Group, the world’s leading and most diverse derivatives marketplace, have signed a definitive agreement to develop and market an Infrastructure as a Service (IaaS) spot exchange that will list financial products based upon 6fusion’s Workload Allocation Cube (WAC).
The spot exchange will feature contracts using the WAC as the standard unit of measurement and be available for trading on an electronic platform using technology licensed from CME Group. 6fusion’s UC6 software platform will be used to track fulfillment of physically delivered contracts traded on the spot exchange. The spot exchange beta is expected to launch later this year featuring a host of infrastructure buyers, sellers and partners.
The WAC is the industry’s first patented benchmark to universally measure consumption and capacity of compute, network and storage resources. The WAC makes it possible for buyers to standardize the quantification of IaaS requirements, making it simpler to determine the infrastructure type, quantities, and pricing that best match requirements across heterogeneous suppliers in the marketplace.
Comments on the news:
John Cowan, 6fusion CEO and Co-Founder: “6fusion was founded on philosophy that on-demand IT infrastructure will not reach it’s true potential until it can be consumed like a true utility and traded on an open exchange. An open exchange is good for both buyers and suppliers of cloud infrastructure. For buyers, it unlocks unprecedented visibility and control over the enterprise cloud transformation process. For suppliers, it dramatically reduces the cost of business acquisition and drives increased transaction velocity.”
Bryan Durkin, CME Group Chief Operating Officer: “CME Group wants to provide customers the opportunity to hedge risk in the growing cloud computing industry. CME Group’s experience with new products and technological expertise makes the company an ideal candidate to innovate in this space and we’re happy to work with 6fusion to go to market.”
Owen Rogers, Senior Analyst, Digital Economics at 451 Research: “The combination of CME Group’s wide ranging experience in commodity exchanges together with 6fusion’s unique metering capability puts the collaboration in a strong position to deliver the economic benefits of real utility computing.”
About CME Group
As the world’s leading and most diverse derivatives marketplace, CME Group (www.cmegroup.com) is where the world comes to manage risk. CME Group exchanges offer the widest range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, weather and real estate. CME Group brings buyers and sellers together through its CME Globex® electronic trading platform and its trading facilities in New York and Chicago. CME Group also operates CME Clearing, one of the world’s leading central counterparty clearing providers, which offers clearing and settlement services across asset classes for exchange-traded contracts and over-the-counter derivatives transactions. These products and services ensure that businesses everywhere can substantially mitigate counterparty credit risk.
CME Group is a trademark of CME Group Inc. The Globe Logo, CME, Globex and Chicago Mercantile Exchange are trademarks of Chicago Mercantile Exchange Inc. CBOT and the Chicago Board of Trade are trademarks of the Board of Trade of the City of Chicago, Inc. NYMEX, New York Mercantile Exchange and ClearPort are registered trademarks of New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. KCBOT, KCBT and Kansas City Board of Trade are trademarks of The Board of Trade of Kansas City, Missouri, Inc. All other trademarks are the property of their respective owners. Further information about CME GroupCME, -0.46% and its products can be found at www.cmegroup.com.
6fusion standardizes the economic measurement of IT infrastructure, enabling a single global marketplace for buyers and sellers. 6fusion is able to quantify supply and demand for compute resources across heterogeneous public and private environments with the world’s only patented metering algorithm, the Workload Allocation Cube (WAC), and an open platform to measure any IT infrastructure environment.
Whether an enterprise optimizing its infrastructure footprint, an infrastructure supplier maximizing a cloud offering, or an IT influencer advising clients on infrastructure transformation, 6fusion enables organizations to deliver topline and bottom-line visibility and value to drive meaningful business outcomes.