(Chicago, IL. 9/15/2015) – UCX, the Universal Compute Xchange, ‘Where the Universe Trades the Cloud’, announced today the launch of the UCX platform for all qualified participants within the United States. UCX’s initial benchmark product enables enterprises to buy and sell cloud compute resources, featuring standardized contracts that provide increased control, simplicity, and security.
UCX makes it simple and safe to buy compute resources. Prior to being able to sell on the UCX platform, all Cloud Service Providers (CSPs) are vetted with full due diligence, including their Service Level Agreements (SLAs), in order to guarantee safe, secure transactions. New participants will find it easy to understand and will benefit from lower priced services being offered throughout the market.
The exchange will provide dual gateways for users. The first is for pre-qualified applicants to buy and sell as members. The second gateway will be for non-members (typically small to medium sized businesses) to buy compute resources via UCX with the simplicity and familiarity of a credit card purchase, meanwhile being able to take advantage of price discovery determined by many market participants.
UCX recently concluded a successful Beta program which included a few select market participants. Actual delivery of compute resources purchased worldwide has now reached over 100 million WAC hours and growing. A combination of increased participant interest and the successful Beta has provided UCX management the confidence to open the platform to all enterprises.
“We are proud to announce the full launch of the UCX platform. After months of Beta and the successful delivery of executed contracts, we are ready to go. Because interest has been overwhelming and execution throughout the platform has exceeded our expectations, management has decided that the time is right for UCX to open up the market to the general public,” said Adam Zeck, CEO and Founder. “What UCX excels at is taking the complicated costs, concerns, and fears associated with the cloud and puts them to bed through standardization.”
Jack Bouroudjian, co-founder says, “After having been part of many new product launches at the exchange level, I am astounded by the interest in UCX. In just a short time UCX has the financial community buzzing about new forms of risk management and capital efficiencies we bring to the market.” When asked about enterprises currently benchmarking their usage Bouroudjian responded, “We love those organizations, they are steps ahead of their competition. As a spot exchange and the first of our kind, we understand we’re still in the early innings. In order to accelerate adoption and to help avoid IT disruption, UCX is introducing converters which can take any kind of internal benchmark and convert it into the tradable WAC standard. This allows anyone to trade or hedge their IT expenditures as they would with any other commodity, no different than electricity or fuel. With hundreds of billions being spent on IT budgets year over year, risk management for IT expenditures is becoming tantamount.”
About UCX, Universal Compute Xchange
UCX has created an electronic spot exchange, with the support and assistance of the CME Group, to help Enterprise Organizations and Cloud Service Providers manage their financial IT Infrastructure risk exposure by trading the cloud as a commodity. UCX is the first centralized, transparent exchange that enables organizations to engage in price discovery, trade execution and the physical delivery of compute resources using one standard unit of measure, providing “apples to apple” comparisons, operational agility, market and capital efficiencies. UCX was named an AlwaysOn Top 100 Global Company to Watch for 2015. To learn more about UCX and the executive team visit https://ucxchange.com/team/.
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