“Oracle inaccurately noted in the course of its Q3 earnings connect with that DTCC was migrating a ‘multi-terabyte knowledge warehouse’ from Amazon Net Expert services to Oracle’s public cloud service”
Oracle CTO Larry Ellison advised investors gleefully this 7 days that a main new client, the Depository Have faith in & Clearing Corporation (DTCC), was migrating its AWS Redshift databases onto Oracle’s cloud. Startlingly – and perhaps troublingly for investors – this just was not real, Pc Small business Evaluation can reveal.
The DTCC would be a massive win for any technology seller: a centralised clearinghouse for far more than fifty economic exchanges, it underpins [pdf] a wealth of post-trade services which include clearing, settlements, and far more, across asset courses from bonds to equities the agency procedures above ninety million economic transactions everyday.
Ellison was understandably pleased to have landed it as a client.
He advised analysts on Oracle’s Q3 earnings connect with (“now this one particular is interesting”) that “DTCC is migrating their multi-terabyte Amazon AWS Redshift program out of Amazon and into our public cloud using the Oracle Autonomous Database”, introducing, “they’re also shifting their analytics from Amazon to the Oracle Analytics suite.”
The public feud involving AWS and Oracle has been nicely documented we won’t rehash it in this article. Suffice to say that against a backdrop of negative blood, and with Oracle’s recently aggressive cloud ambitions, the company’s co-founder publicly stating Oracle had managed to steal databases/cloud business from AWS was newsworthy.
Pc Small business Evaluation (perhaps naively expecting that whilst a very little bombast can be envisioned on an earnings connect with, patently faulty claims from a blue chip should really not be), ran the remarks without the need of initially confirming them with DTCC. We, and Ellison, stand corrected: his claims were being deeply inaccurate, the agency claimed.
“DTCC does not have any plans to go applications from AWS to Oracle”
DTCC advised Pc Small business Evaluation in an emailed comment: “On March twelve, 2020, Oracle inaccurately noted in the course of its Q3 earnings connect with that DTCC was migrating a ‘multi-terabyte knowledge warehouse’ from Amazon Net Expert services to Oracle’s public cloud services. DTCC works by using AWS to support a selection of business functions, and DTCC does not have any plans to go applications from AWS to Oracle.” [Our italics].
The business added: “DTCC employs a range of Oracle products and solutions, which include Oracle Autonomous Databases and Oracle Analytics Cloud, which support DTCC’s corporate HR and Finance functions. Currently, DTCC’s core clearance and settlement services for the U.S. securities marketplaces are not shipped by any public cloud.”
With the business presently embroiled in a class action lawsuit led by a German asset supervisor that alleges Oracle utilised improper practices to falsify the accomplishment of its cloud products and solutions and “deceived investors as to the real supply, mother nature and high quality of Oracle’s all-crucial cloud earnings stream”, Oracle’s board may be questioning what it would choose to make absolutely sure Ellison is a very little far more circumspect on earnings calls. Oracle had not responded to a ask for for comment as we published.