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India Compute Interchange (ICIx)

ICIx Announces Launch of Bare Metal Asset Class with Spot and Forward Contracts for Servers

Apr 22, 2016   11:00 IST 
New Delhi, Delhi, India

India Compute Interchange (ICIx) today announced the launch of a Bare Metal asset class in which buyers can execute spot or forward contracts for servers.

 

ICIx, which launched a new financial marketplace for Indian cloud service providers and enterprise organizations to trade compute resources last year, is introducing the new products in partnership with Chicago-based UCX.

 

ICIx Chairman Bharat Swami, a practicing surgeon and serial entrepreneur, disclosed that the launch includes two products, the “X1” and “X2”, which have been designed around two widely adopted configurations within the IT community.

 

Dr. Swami said, “With a Spot contract, a buyer can execute a trade and take immediate delivery of their servers. With a Forward contract, the buyer can execute a trade for scheduled delivery in the ensuing calendar months". 

 

ICIx has specified minimum server specifications that its member service providers would have to meet in order to fulfill orders on the exchange.

 

“We see Bare Metal as a natural extension to our financial product offerings,” said ICIx / UCX Co-Founder and Global CEO Adam Zeck, “Suppliers have a venue to recoup investments on vacant servers and a way to minimize risk due to customer churn, and buyers benefit from price discovery, transparency, and a way to hedge their own IT investments.

 

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 Bare Metal servers.Buyers bid on excess dedicated hardware capacity offered by service providers, which compete for buyers’ business in real-time. 

 

“Our goal, from day one, has been to help deliver on the Prime Minister's promise of a Digital India and make India the center for all cloud processing in the Pan-Asian hub," said Dr. Swami.

 

“India’s future has never looked brighter. ICIx will not only create a central transparent marketplace for all ‘cloud’ users, but will maintain and trade only processing deemed green by governmental standards," he said.

 

"Between our partners in the US and the magnificent team of experts here in India, we could not be happier. It makes the probability of success much greater," he added.

 

“What Dr. Swami and his team are doing not only puts India on the forefront of the digital revolution but cements India's place as the central market for all compute resource power trading in the Pan-Asian region," Mr. Zeck said.

 

“India will show the rest of the world the importance of understanding cloud consumption and production. Digital, Green India is not a dream; it is today’s reality, and ICIx is an important piece of the puzzle to achieve that goal," he added.

 

Links

Bare Metal Announcement: http://icixindia.com/home-business-bm-launch/

Bare Metal X1 Specifications: http://icixindia.com/products/bare-metal-x1/

Bare Metal X2 Specifications: http://icixindia.com/products/bare-metal-x2/

ICIx Team, Dr. Swami, Chairman: http://icixindia.com/photo-gallery/#prettyPhoto/3/

ICIx Team, Adam Zeck, Global CEO: http://icixindia.com/photo-gallery/#prettyPhoto/7/

ICIx Team: http://icixindia.com/photo-gallery/#prettyPhoto/1/

 

About ICIx

India Compute Interchange (ICIx) provides a financial marketplace for Indian cloud service providers and enterprise organizations to trade compute resources.  ICIx brings enterprises, government ministries and cloud service providers together to engage in price discovery, trade execution and the physical delivery of compute resources providing operational agility and capital and market efficiencies.  ICIx is a joint venture between UCX, "Where the Universe Trades the Cloud", and SCAD Consultants, India.

 

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.  Participant’s 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.


 
 
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