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

Elvera Bartels

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“Oracle inaccurately documented through its Q3 earnings phone that DTCC was migrating a ‘multi-terabyte facts warehouse’ from Amazon World-wide-web Solutions to Oracle’s public cloud service”

Oracle CTO Larry Ellison told buyers gleefully this week that a important new purchaser, the Depository Believe in & Clearing Company (DTCC), was migrating its AWS Redshift databases onto Oracle’s cloud. Startlingly – and most likely troublingly for buyers – this simply was not correct, Personal computer Small business Assessment can reveal.

The DTCC would be a huge acquire for any technological innovation seller: a centralised clearinghouse for extra than 50 monetary exchanges, it underpins [pdf] a prosperity of submit-trade companies which include clearing, settlements, and extra, across asset lessons from bonds to equities the agency procedures above 90 million monetary transactions everyday.

Ellison was understandably pleased to have landed it as a purchaser.

He told analysts on Oracle’s Q3 earnings phone (“now this one particular is interesting”) that “DTCC is migrating their multi-terabyte Amazon AWS Redshift system out of Amazon and into our public cloud applying the Oracle Autonomous Database”, introducing, “they’re also moving their analytics from Amazon to the Oracle Analytics suite.”

The public feud concerning AWS and Oracle has been nicely documented we will not rehash it right here. Suffice to say that from a backdrop of terrible blood, and with Oracle’s newly intense cloud ambitions, the company’s co-founder publicly declaring Oracle had managed to steal databases/cloud business enterprise from AWS was newsworthy.

Personal computer Small business Assessment (most likely naively expecting that though a small bombast can be expected on an earnings phone, patently erroneous statements from a blue chip should not be), ran the comments with no to begin with confirming them with DTCC. We, and Ellison, stand corrected: his statements ended up deeply inaccurate, the agency explained.

Oracle DTCC AWS“DTCC does not have any plans to move programs from AWS to Oracle”

DTCC told Personal computer Small business Assessment in an emailed remark: “On March twelve, 2020, Oracle inaccurately documented through its Q3 earnings phone that DTCC was migrating a ‘multi-terabyte facts warehouse’ from Amazon World-wide-web Solutions to Oracle’s public cloud service. DTCC uses AWS to guidance a variety of business enterprise functions, and DTCC does not have any plans to move programs from AWS to Oracle.” [Our italics].

The corporation added: “DTCC employs a selection of Oracle products, which include Oracle Autonomous Database and Oracle Analytics Cloud, which guidance DTCC’s corporate HR and Finance functions. Currently, DTCC’s main clearance and settlement companies for the U.S. securities markets are not shipped by any public cloud.”

With the corporation presently embroiled in a class action lawsuit led by a German asset supervisor that alleges Oracle applied incorrect techniques to falsify the results of its cloud products and “deceived buyers as to the correct source, character and high quality of Oracle’s all-important cloud profits stream”, Oracle’s board may possibly be pondering what it would get to make absolutely sure Ellison is a small extra circumspect on earnings phone calls. Oracle had not responded to a request for remark as we released.

 

 

 

 

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