DTCC Says Oracle’s Claims About its AWS Migration Were Wrong

Ali Corbett

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“Oracle inaccurately described during its Q3 earnings phone that DTCC was migrating a ‘multi-terabyte info warehouse’ from Amazon Net Services to Oracle’s community cloud service”

Oracle CTO Larry Ellison instructed traders gleefully this week that a key new buyer, the Depository Belief & Clearing Company (DTCC), was migrating its AWS Redshift databases onto Oracle’s cloud. Startlingly – and potentially troublingly for traders – this just wasn’t true, Computer Enterprise Overview can expose.

The DTCC would be a significant earn for any engineering vendor: a centralised clearinghouse for extra than fifty money exchanges, it underpins [pdf] a wealth of post-trade services together with clearing, settlements, and extra, throughout asset classes from bonds to equities the business procedures around 90 million money transactions each day.

Ellison was understandably happy to have landed it as a buyer.

He instructed analysts on Oracle’s Q3 earnings phone (“now this one is interesting”) that “DTCC is migrating their multi-terabyte Amazon AWS Redshift technique out of Amazon and into our community cloud utilizing the Oracle Autonomous Database”, incorporating, “they’re also going their analytics from Amazon to the Oracle Analytics suite.”

The community feud in between AWS and Oracle has been very well documented we will not rehash it right here. Suffice to say that towards a backdrop of terrible blood, and with Oracle’s newly aggressive cloud ambitions, the company’s co-founder publicly expressing Oracle had managed to steal databases/cloud company from AWS was newsworthy.

Computer Enterprise Overview (potentially naively expecting that although a minimal bombast can be predicted on an earnings phone, patently faulty promises from a blue chip must not be), ran the reviews without at first confirming them with DTCC. We, and Ellison, stand corrected: his promises have been deeply inaccurate, the business stated.

Oracle DTCC AWS“DTCC does not have any plans to shift applications from AWS to Oracle”

DTCC instructed Computer Enterprise Overview in an emailed remark: “On March 12, 2020, Oracle inaccurately described during its Q3 earnings phone that DTCC was migrating a ‘multi-terabyte info warehouse’ from Amazon Net Services to Oracle’s community cloud assistance. DTCC uses AWS to aid a range of company functions, and DTCC does not have any plans to shift applications from AWS to Oracle.” [Our italics].

The business additional: “DTCC employs a variety of Oracle merchandise, together with Oracle Autonomous Databases and Oracle Analytics Cloud, which aid DTCC’s corporate HR and Finance functions. At this time, DTCC’s core clearance and settlement services for the U.S. securities marketplaces are not shipped through any community cloud.”

With the business presently embroiled in a class motion lawsuit led by a German asset manager that alleges Oracle employed poor practices to falsify the good results of its cloud merchandise and “deceived traders as to the true supply, nature and high quality of Oracle’s all-important cloud income stream”, Oracle’s board might be questioning what it would acquire to make certain Ellison is a minimal extra circumspect on earnings phone calls. Oracle had not responded to a ask for for remark as we released.

 

 

 

 

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