CHICAGO, April 12, 2016 (GLOBE NEWSWIRE) -- UCX, ‘Where the Universe Trades the Cloud’, is causing technology executives to rethink how they are managing risk associated with their IT expenditures. UCX has introduced an exchange that enables buyers, sellers and brokers to make ‘apples-to-apples’ comparisons across a variety of different cloud infrastructure providers.
"The capital efficiencies UCX is creating is game-changing," said Adam Zeck, UCX Co-Founder and CEO, "UCX is bringing much needed transparency to the market and in the process is helping some enterprises cut their cloud spend by more than half. This is risk management for the digital age."
UCX will be exhibiting at the upcoming eMerge Americas conference in Miami Beach, Florida, April 18th and 19th. Working in association with eMerge, participants and attendees of the conference will receive three months of a virtualized cloud environment at no cost. “Just look for one of our clerks wearing the trading jackets on the expo floor. We’ll help you execute your first trade in just a few seconds,” Zeck said.
UCX leverages a state-of-the-art trading platform that it licenses from CME Group to create a central price discovery mechanism to trade digital assets, such as cloud compute resources. Buyers bid on excess capacity offered by CSPs, which compete for buyers’ business in real-time. “UCX works exactly like a commodity exchange where standardized contracts and metrics are used to provide fungible financial cloud products. Like any other tradable asset, prices are driven by free market forces and the fundamental rules of supply and demand,” added Jack Bouroudjian, UCX Co-Founder and CNBC commentator.
“Enterprises are in the habit of paying for the cloud inefficiently because service providers round usage to the hour, no matter if the instance is used for 60 seconds or 60 minutes. The amount of waste that is taking place is astronomical. Providers on UCX offer real-time consumption rather than ‘allocated’ consumption which guarantees that users only pay for exactly what they use, just like a utility,” added Zeck.
"We're the best fit for young technology companies, where minimizing spending and forecasting budgets are critical," said Zeck. “With the ‘Big 3’, they get you in the door with free credits and software that the majority of enterprises never need – and their platforms are so sticky that it becomes nearly impossible to leave – ultimately going against everything the cloud was intended to be for a business.”
For further information, visit www.ucxchange.com.
About UCX
UCX is an electronic spot exchange where Cloud Service Providers and Enterprises “Trade the Cloud”. UCX enables exchange participants to engage in the price discovery, trade execution and the physical delivery of cloud compute resources. Participants benefit from transparent pricing, ‘apples-to-apples’ comparisons, market competition, renewed operational agility, risk reduction, and capital efficiencies. Let UCX’s market compete for your business. For further information, visit www.ucxchange.com.