Chicago, IL May 06, 2015
UCX, the Universal Compute Xchange, where the World Trades the Cloud, announced the first successful trades for their benchmark WAC Financial Contract. The WAC is the first commercial standard to quantify IT infrastructure, and the basis by which compute resources may be measured and transacted on UCX. Trades were seamlessly conducted on the Exchange and trading volume has grown rapidly since the opening trade, February 25, 2015. The response has been overwhelming and volume is steadily increasing. The increased volume and open interest will allow organizations, on a global scale, to now engage in price discovery and trade the cloud from a centralized, transparent market.
Beta participants in the first trades included a select group of cloud service providers, enterprise buyers, and experienced brokers and traders, who were rigorously evaluated before being invited to trade on UCX. The ‘Proof of Concept’ has been established with the request for membership growing daily and applications for participation increasing on a week to week basis. UCX anticipates the platform will be ready for the launch of General Availability mid-Summer, keeping pace with the increasing demand from the market.
“UCX is a solution for the modern IT era, enabling organizations to measure, forecast and hedge their financial IT risk exposure.” says Dr. Owen Rogers, Cloud Economist and Senior Analyst with 451 Research. “Cloud service providers can potentially increase the volume and velocity of customer demand, while enterprises can benefit from a commercial standard, price transparency and risk reduction.”
Jack Bouroudjian, co-founder of UCX and well known CNBC market contributor said, “We see the WAC as more than just a simple unit of measure which allows the corporate world the ability to hedge out it’s IT spend, we see a future which uses compute resource power as a digital currency. It could be the ultimate, digital, cyber currency.”
UCX is a privately held company and has been named as an AlwaysOn Top 50 Emerging Company for Financial Technology.
For more information please visit UCX.
Press inquiries please contact Jocelyn DeGance Graham at Jocelyn@ucxchange.com
UCX, Universal Compute Xchange, is defining a new asset class of exchange traded products that are available for trading on an electronic platform using technology licensed from CME Group that address the needs and risks of the digital generation. UCX is recognized as an AlwaysOn “Top 50 Emerging Company” for FinTech and is the leading global exchange for trading infrastructure as a service, IaaS, “The Cloud”. UCX has licensed the patented Workload Allocation Cube (WAC) metric for measuring IT infrastructure usage, to create the benchmark WAC financial contract. UCX enables buyers and sellers to engage in price discovery and trade standardized WAC financial contracts to reduce their financial IT Infrastructure risk exposure while increasing operational agility and market efficiency, from a transparent, centralized marketplace. UCX is where the universe comes to trade.
For more information visit https://ucxchange.com/ and follow us on twitter @ucxchange