“Oracle inaccurately noted throughout its Q3 earnings get in touch with that DTCC was migrating a ‘multi-terabyte details warehouse’ from Amazon Net Expert services to Oracle’s general public cloud service”
Oracle CTO Larry Ellison explained to investors gleefully this 7 days that a important new buyer, the Depository Rely on & Clearing Corporation (DTCC), was migrating its AWS Redshift databases onto Oracle’s cloud. Startlingly – and most likely troublingly for investors – this basically wasn’t true, Computer system Small business Critique can expose.
The DTCC would be a massive acquire for any technological know-how seller: a centralised clearinghouse for far more than 50 economic exchanges, it underpins [pdf] a prosperity of submit-trade solutions such as clearing, settlements, and far more, across asset classes from bonds to equities the company procedures above 90 million economic transactions everyday.
Ellison was understandably delighted to have landed it as a buyer.
He explained to analysts on Oracle’s Q3 earnings get in touch with (“now this one particular is interesting”) that “DTCC is migrating their multi-terabyte Amazon AWS Redshift process out of Amazon and into our general public cloud making use of the Oracle Autonomous Database”, incorporating, “they’re also relocating their analytics from Amazon to the Oracle Analytics suite.”
The general public feud in between AWS and Oracle has been very well documented we will not rehash it here. Suffice to say that from a backdrop of negative blood, and with Oracle’s newly aggressive cloud ambitions, the company’s co-founder publicly saying Oracle experienced managed to steal databases/cloud business enterprise from AWS was newsworthy.
Computer system Small business Critique (most likely naively anticipating that while a small bombast can be anticipated on an earnings get in touch with, patently faulty claims from a blue chip should really not be), ran the opinions without to begin with confirming them with DTCC. We, and Ellison, stand corrected: his claims were being deeply inaccurate, the company stated.
“DTCC does not have any options to go applications from AWS to Oracle”
DTCC explained to Computer system Small business Critique in an emailed comment: “On March 12, 2020, Oracle inaccurately noted throughout its Q3 earnings get in touch with that DTCC was migrating a ‘multi-terabyte details warehouse’ from Amazon Net Expert services to Oracle’s general public cloud support. DTCC makes use of AWS to assistance a wide variety of business enterprise capabilities, and DTCC does not have any options to go applications from AWS to Oracle.” [Our italics].
The enterprise additional: “DTCC employs a amount of Oracle products, such as Oracle Autonomous Databases and Oracle Analytics Cloud, which assistance DTCC’s corporate HR and Finance capabilities. At present, DTCC’s core clearance and settlement solutions for the U.S. securities marketplaces are not shipped by means of any general public cloud.”
With the enterprise at this time embroiled in a course action lawsuit led by a German asset supervisor that alleges Oracle used incorrect ways to falsify the good results of its cloud products and “deceived investors as to the true source, character and high quality of Oracle’s all-critical cloud profits stream”, Oracle’s board might be questioning what it would get to make absolutely sure Ellison is a small far more circumspect on earnings calls. Oracle experienced not responded to a ask for for comment as we printed.