Any Reasons why Oracle is not used in Financial Industry???

[ronnie]

Hi,

I was just wondering why doesnt the wall street and other financial companies use Oracle as widely as others do.

estimates show that sybase is the leading Database for these companies and those who are changing are going to db2 and not Oracle.

why is that???

Somehow this really bothers me......

Ronnie

[julian]

Who told you that financial institutions do not use Oracle? I am the Senior Oracle DBA of an Investment Bank in Scandinavia. There are at least two more investment banks in Helsinki that run also on Oracle.

Could you provide an URL supporting your cliam about DB2? I hope you did not hear it on Ricky Lake :-)

[pando]

when you talk about financial do you mean stock exchange market or banks?

I know a dwh of one of largest bank in spain runs on oracle and sun starcat 15000, they have db2 because they cannot afford to get rid of host since they have been using for the last almost 30 years

but it is very true that oracle is losing market shares, although it increased last year, the customer satisfactions is not as good as before but this is oracle´s fault by releasing buggy software (rdbms, applications, ias all BUGGY)

[julian]

the customer satisfactions is not as good as before but this is oracle´s fault by releasing buggy software (rdbms, applications, ias all BUGGY)

You are absolutely right here. Even 8.1.7.3.0 has bugs, which Oracle should have fixed before putting on the market 9i, a DB having a lot of useless new features. I am sure nobody really runs 9i in a serious production enviroment. It is so full of bugs. Have you seen the 9i bug list?

Still, Oracle is Oracle :-)

[dknight]

There is a lot of banking in Frankfurt, where i am based. It isnt as big as London or New York, but neither is Frankfurt.

Apparently, there are lots of financial packages that either run best on Sybase or run exclusively on Sybase. There are more positions for Sybase here than I have ever seen in the US.

A contact of mine at JP Morgan in London told me that Sybase is pervasive in their organization.

[ronnie]

It is a well known fact here in NY that Oracle is not used as widely as sybase.

Take for example companies like Morgan Stanley, Solomon Smith Barney, J P morgan etc etc etc.

Has anybody done a job search for Oracle viz a viz Sybase DBA's in the NY-NJ-CT Tri State area. This is where most of the Financial Power houses of the world reside.

Also I know people working in these companies in the IT department and they tell me that there are no plans to give up sybase and even if in some small projects they want to move away from sybase they are moving to DB2.

Also has anybody noticed how aggressive DB2 has become in the market nowadays.

We just cant keep saying Oracle is Oracle. whom are we trying to fool here.....

Ronnie

[pando]

well I dont understand why this is bothering you.... what´s wrong with db2?

[xyz2000]

Oracle are more accepted by industry after oracle7, Before, Sybase is the leader in database industry. It is hard for company to change from one database to another.

[ronnie]

Originally posted by pando
well I dont understand why this is bothering you.... what´s wrong with db2?

There is absolutely nothing wrong with DB2. I think it is a good thing that the Database market is a competetive one, thats a healthy sign.

My only question was why is Oracle not as widely used as sybase and that was purely to satify my inquisitive side as to why such a huge market is left untapped by Oracle.

Thats all.

Ronnie

[jgmagnus]

Financial companies in USA that use Oracle:

- Investor's Bank & Trust
- State Street Bank/Global Advisors
- FleetBoston
- Fidelity
- Putnam Investments

those are just a few that I am sure of.
These are very large finacial institutions.

- Magnus