NEW YORK, October 26, 2022 /PRNewswire/ — IEX Group (the “Company”), through its wholly owned subsidiary swXtch.io LLC, today announced the commercial launch of cloudSwXtch, a new cloud-native software product that brings on-premises bare-metal performance capability to major cloud networks.
cloudSwXtch is a virtual overlay network that adds feature-rich, high-performance networking to cloud or edge deployments, without requiring code changes to existing applications. cloudSwXtch unlocks missing network features that are required for demanding high-throughput workflows such as financial, industrial, and multimedia applications. These missing features include multicast, broadcast, packet snooping, protocol conversion, and broadcast. Last month, cloudSwXtch debuted at IBC2022 in conjunction with Microsoft and Evertz Technologies, Ltd., with a launch aimed at the media and broadcast industries. cloudSwXtch is now commercially available globally through major cloud marketplaces.
“Over the past few years, IEX Group has focused relentlessly on building a high-performance, reliable and scalable infrastructure. applying our technical expertise to create solutions for other industries that face similar technological challenges,” commented the co-founder and CEO of IEX Group. Brad Katsuyama. “At heart, we are a technology company and we are proud to have developed cloudSwXtch, which has the potential to revolutionize cloud networking for multiple industries.
Analysts and other industry experts often cite cloud multicasting as the holy grail – a new way to unlock the gateway and bring high-bandwidth networking to the cloud. Breakthrough cloudSwXtch technology enables multicasting along with other critical features such as ground-to-cloud bridging, protocol translation and distribution, and network path redundancy to all major cloud service providers. Businesses across multiple industries can now merge on-premises and cloud workflows into a hybrid production process from anywhere in the world, dramatically reducing costs through reduced infrastructure and energy. What started as an initiative for financial services and specifically the migration of data to the cloud for exchanges, has now become a solution for industries looking to quickly and efficiently move their infrastructure to the cloud. With the cloud and the right technology like cloudSwXtch, businesses can do more with less, while improving productivity and customer satisfaction.
Since the founding of IEX Group, Inc., the company has been at the forefront of technological advancements. The company received regulatory approval to launch the IEX exchange in 2016 and has since become one of the largest stock exchanges in the world, trading nearly $25 billion in transactions per day. At the same time, IEX has developed a suite of technology offerings with the introduction of cloudSwXtch and the launch of Apperate from IEX Cloud. IEX Group is also expanding into digital assets /crypto market. In April 2022, the company announced its collaboration with FTX US to grow its digital asset business and establish a clear, simple and transparent market structure for buying, selling and trading digital asset securities. The development of IEX Group’s digital asset business is currently underway.
cloudSwXtch is available through Microsoft Azure Marketplace. The company intends to add support for additional cloud platforms later this year through 2023, including Amazon Web Services, Google, and Oracle Cloud Infrastructure.
IEX Cloud and swXtch.io are wholly owned subsidiaries of IEX Group, Inc. and operate separately and distinctly from its IEX Exchange (Investors’ Exchange LLC).
About IEX Group, Inc.
IEX Group, Inc (“IEX”) develops technology that levels the playing field. We are passionate problem solvers driven to break down barriers to equal opportunity and sustainable growth. Founded in 2012, IEX launched a new type of stock exchange in 2016 that combines a transparent business model with innovative design to protect investors and strengthen market integrity. Today, we apply our experience and groundbreaking technology to advance competitive markets and help scalable, sustainable and innovative businesses thrive in other industries. Through our Exchange, Digital Assets and Technology groups, IEX provides high-performance infrastructure that helps people access financial markets and seize new growth opportunities. Learn more about IEX at iex.io.
Jay A. Morakis
Group M Strategic Communications (for IEX)
+1 646 859 5951
SOURCE IEX Group Inc.