Carmen Li

And as a user, you can decide, is price your most important criteria?

Maybe it is.

Or maybe you're willing to pay a premium for geolocation or the performances that you care more about on latency.

We believe giving people the option and transparency is the most important thing.

This is the whole goal for me sitting here, actually, right?

There's a meaning for every financial products in the functional reason.

For commodity, it is for hedging, right?

This speculation is great, but really for people to hedge their volatility, to do risk allocation, to do...

risk transfer, and then asset capital allocation.

If we can't do what you said, then we fail at our job, right?

So that's why we went all the way back.

The way we develop our index model is not simple math.

It's not, hey, you have 2H100, do simple math.

average, right?

Because then you compare Apple to oranges.

The 2H100 can have different CPU, different RAM, different disks, different geolocation, different memory bandwidth.

You cannot do simple math.

What we do is we usually collect six months of historical trading data from over 100 data sources, and we see which factor drive the price differentiation.

So every day, over 150,000 traded prices ingest our platform, and we normalize the traded prices

based on different characteristics of the model itself, and then normalize to a base case, and then we do the math of settlement prices calculation, right?