CHICAGO, Nov. 4, 2014 (GLOBE NEWSWIRE) -- UCX, announces the beta launch of the Universal Compute Xchange. The launch of UCX builds on the news earlier this year that the CME Group (Chicago Mercantile Exchange) signed a definitive agreement to develop an IaaS exchange.
UCX, an innovative new financial market defines a new asset class of exchange traded products that address the risks of the digital generation, with the support, assistance, and backing of CME Group. UCX's initial benchmark contract is based upon 6fusion's patented Workload Allocation Cube (WACTM). The WAC represents the first commercial standard to quantify IT infrastructure supply and demand, and creates the basis for which compute resources may be measured, and transacted. Organizations can now engage in price discovery and trade IaaS resources using standardized WAC financial products from a centralized, transparent market.
"Today's global capital market structure enables corporations to reduce their risk and exposure on almost every aspect of their balance sheet, from energy to interest rates, with the exception of being able to hedge their internal and external IT infrastructure expenditures, which is one of the largest and fastest growing portions of their balance sheet. By providing the ability to trade IaaS resources, using WAC financial products, corporations can reduce their financial IT infrastructure exposure, create capital efficiencies and unlock a portion of the balance sheet that has been previously locked," says Adam Zeck, Founder and CEO of UCX.
"451 Research's Market Monitor service estimates the combined IaaS and PaaS market to be worth over $30 Billion by 2018, a compound annual growth rate of 29%," says Owen Rogers, Cloud Economist and Senior Analyst with 451 Research. "With so much demand for cloud services forecast, new channels to market such as cloud exchanges can help service providers grow their markets as well as assisting enterprises in procuring and managing resources more efficiently."
UCX will be accepting applications for Beta participants starting November 15. Selected participants will represent of a select group of cloud service providers, enterprise buyers, and experienced brokers/traders. All participants will go through a rigorous application and evaluation process before being invited to trade on UCX. Beta trading is expected to commence January of 2015, with the full launch of the open exchange expected in the first half of 2015. Interested parties should visit our website to learn more about being considered for the Beta.
"UCX's vision is to bring innovative products to the market that enable both supply and demand to manage risk and become more efficient," says Zeck. "UCX is where the world will trade the cloud."
For more information please visit UCX.
Press inquiries, please contact Jocelyn DeGance Graham at jocelyn@ucxchange.com.
About UCX
UCX, Universal Compute Xchange, is defining a new asset class of exchange traded products with the support, assistance and backing of CME Group (Chicago Mercantile Exchange), that address the needs and risks of the digital generation. UCX, the leading global exchange for trading infrastructure as a service, IaaS, "The Cloud", has licensed the patented Workload Allocation Cube (WACTM) 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 http://ucxchange.com/ and follow us on twitter @ucxchange.
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.
The Globe Logo, CME Group, CME, Globex, CME Clearing Europe and Chicago Mercantile Exchange are trademarks of Chicago Mercantile Exchange Inc. All other trademarks are the property of their respective owners. Further information about CME Group (Nasdaq:CME) and its products can be found at www.cmegroup.com.