Once a new Cloud Service Provider joins UCX and is trained on the UCX Trading Platform, they will now be eligible to “make markets” on those products they qualify for. Once on the Trading Platform, this Seller will be able to submit Offers. These offers consist of Price per contract as well as the volume available to purchase of the contract.
Price Discovery is the Bid/Ask process between Buyer and Seller on the UCX Trading Platform. Sellers will submit Asks on a Product and Buyers will submits Bids. There is a back and forth where both sides will inch closer to central price in which a trade will then take place. Sellers can also “lift” any Bid at any price at any time.
Once a trade is executed, email alerts (as well as customized JSON alerts) will be sent immediately to the Seller. This will contain all info about the trade including ALL Sellers are required to contact the Buyer within 15 minutes of Trade Execution to start the on-boarding process.
Within 15 minutes of Trade Execution, the Seller is required to contact the buyer to start the On-boarding/Compute Delivery Process. Depending on the contract type that is purchased, the Seller will either work with the Buyer in building the machines OR the Seller will provide an account for Buyer that will allow Buyer to create the machines. (PaaS customers will always have the ability to manage their own machines.)