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JON Exchange Today’s network KCom Openreach Virgin Media Tomorrow’s patchwork – Today! Angus Glens Cardenden Alston Fibrecity Dundee Hull WWHC Baltic Quarter KCom Openreach Virgin Media Derby Lace Market Cornwall Bristol 2012 Quintain Bradnet Corby The “Big 6” ISP’s have more than 90% of the UK market Scale Matters! The Big ISP’s. . . This works! … for them at least This doesn’t! … for them or anyone This could! … for everyone! This could! Joint Open Network Exchange … for everyone! JON Exchange • • • • Manchester Oxford Road 1 market-place 1 set of interface specifications 1 set of tradable assets FibreSpeed No controlling interests Gateshead Gti Open Marketplace DurhamNet • Meeting place for – Middle-mile services – Peering & transit – Backbone connectivityBMEX – Managed platforms NYnet Digital Region Two key words Liquid adj (finance) fluid: in or Fungible (law) of goods orcash commodities; freely easily convertible exchangeable forto orcash; replaceable by another like nature "liquid (oroffluid) assets"or kind in the satisfaction of an obligation. Past attempts • Failed to identify tradable fungible assets – Bandwidth is not fungible • Tried to create secondary markets without a primary spot market – Future bandwidth trading needed a primary spot market An Open Market • Duct A metre of sub-duct • Dark FibreA metre of unlit fibre Fungible & Liquid Passive • Standards adopted from COTS & NICC • Maintenance & evolution by market members in • Wavelength A specific lambda line with standards bodies Active • Layer 2 An ALA VLAN ALA: A break from the past Content Delivery New Media Networks Public Services Games Services on Demand Remote Internet ISP Email Web Voice IP Access Local Network BT Provider – BT, Fibrecity, Eurofiber, Onestream. . . . Line Access Line Access Customer Wholesale Model Service Provider • • • •• The Market Network Provider The Market will log“contracts” transaction information Pro-forma market • For Offer &Ofcom buy price mechanisms • For the Ombudsmen Settlement system leading to a market set “spot price” Seeking to create an open & fair telecoms marketplace Standard interface Thoughts on a secondary market Capacity Supply-side Planning = Future Demand-side Option Forward dated contracts to buy network services • NHS tele-care patients, LEA school children, housing associations, communities • Network builders could take the contracts as anchor tenants and collateral Summary - Why this can work • Fungible assets – Not based on bandwidth – Metre of duct, metre of dark fibre, a wavelength, a VLAN – Each asset is sufficiently homogenous to compare, and different enough to generate market choices • Liquidity – European scale – Transition conditions until experience & scale are sufficient – Market operation will lead to a fluid, fair market Summary - Next Steps • Trading Platform – Interface system – Trading & settlement • Technical/Operational Standards – NICC & BSG/COTS – INCA • European Governance structure Aiming for operation in Q4 this year Thank you! Adrian Wooster [email protected] www.jon-exchange.net