The Euroclear System, a Brussels-based international securities settlement organization, has upgraded its backup data processing capability.
As part of the project, Euroclear - which is operated by J.P. Morgan under a contract with its financial institution owners - selected EMC Corp.'s Symmetrix Remote Data Facility as its disaster recovery software for mission-critical processing. EMC officials said the contract was worth several million dollars.
Euroclear is the largest clearing firm in the Eurobond market, processing over $95 billion in transactions a day.
Officials said the EMC system would let Euroclear quickly recover from a disaster or catastrophic systems failure by handing off processing to a secondary site.
EMC officials said the contract was awarded after Euroclear conducted "extensive, in-depth disaster simulation." The test involved reacting to the total loss of its main data center in Brussels.
The EMC system enabled Euroclear's backup facility to take over critical processing in less than an hour, with no data loss.
"SRDF is unique in that it enables customers to perform a disk-based storage system restart from their remote backup center with no need for time-consuming data recovery procedures" that can often take hours or even days, said Richard Blaschke, EMC's vice president of product marketing.
"SRDF is particularly critical for organizations in which failure could result in serious impact to the business."
The EMC system, with the Symmetrix Remote Data Facility software running on the company's data storage hardware, known as integrated cached disk arrays, is up and running in Euroclear's primary and backup data centers, officials said.