ICE plans GPU compute futures with Ornn index partner

Intercontinental Exchange plans to launch US dollar-denominated, cash-settled futures contracts tied to GPU computing costs. The contracts will reference Ornn’s real-time indexes that track live traded spot prices across major GPU types, including Nvidia H100, H200, and B200 chips. Ornn’s index uses transaction data from live GPU markets and is distributed via the Bloomberg Terminal. The index has attracted data center operators, investors, and AI companies. ICE positions the move as a response to the compute market’s need for globally accepted pricing and risk management as AI expands beyond research into broader economic activity. Regulatory approval is required before launch.

"ICE announced on Monday that it will team with Ornn, a financial-infrastructure firm whose index products track GPU computing costs in real time, to develop the new contracts. The futures will be US dollar-denominated, cash-settled, and referenced against Ornn's indexes covering a variety of major GPU types. The plans remain subject to regulatory approval."

"The partnership pairs one of the world's largest exchange operators with a startup that has quietly built the plumbing for compute price discovery. Ornn, formally Ornn AI Inc, publishes the Ornn Compute Price Index, which tracks live traded spot prices for GPU compute across hardware types including Nvidia's H100, H200, and B200 chips. The index, now available on the Bloomberg Terminal, draws on more than 400 data centre operators, investors, and AI companies to its platform."

"Trabue Bland, senior vice president of futures markets at ICE, framed the move as a response to a market that has outgrown its informal pricing mechanisms. The compute market, he said, is "in desperate need of a globally accepted pricing mechanism and risk management tool" as AI shifts from research labs to becoming a central driver of the global economy."

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