National E-Repository Limited, or NERL, has created a state-of-the-art infrastructure that handles commodities held and settled in dematerialized form in the Indian commodity market. It is one of the repositories within India regulated by Warehousing Development and Regulatory Authority. Using innovative and flexible technology systems, NERL supports clients, warehouses, financial institutions, exchanges, and various other markets in the commodity and agricultural ecosystem. Electronic Negotiable Warehouse Receipts (ENWR) are held in repository accounts, which are similar to holding funds in bank accounts. Transfer of ownership of ENWR is done through settlement instruction or simple transfer. These electronic receipts are financed from banks and financial institutions through the NERL repository platform.
As a regulated entity, NERL had to ensure a robust disaster recovery site as per regulatory requirements. NERL also services the futures exchanges and had to meet the exchange’s regulatory guidelines for business continuity.
Shifting our disaster recovery to Oracle Cloud was smooth. The Oracle implementation team was smart, efficient, and experienced in handling hassle-free migration. With this, NERL has achieved a highly resilient system on a multicloud environment for our business with high availability, robust infrastructure, and redundancy with respect to infrastructure, location, and cloud service providers.
Head of IT, National E-Repository Limited
NERL selected Oracle Cloud Infrastructure (OCI) with Oracle Database Standard Service for its lower total cost of ownership, managed services offering on Oracle Database, stronger security, availability of data centers in different seismic zones, unmatched migration services with the best turnaround time, and an empaneled data center under the India Ministry of Electronics and Information Technology.
After migrating to OCI, NERL saved costs by 30% by moving from its existing infrastructure and also achieved its required recovery time objective of 5 minutes and its recovery point objective of 45 minutes.
The entire migration of the platform, from design to go-live—covering proof of concept, provisioning, data migration, testing, and handover—was completed within three months, which was much faster and smoother compared to other migrations.
Oracle Cloud Lift Services helped to provide a seamless migration by creating an image of the instance and replicating it on OCI, which eliminated the need to refactor the Oracle Database, saving time and money.
With its disaster recovery infrastructure on OCI, NERL is confident that it has adhered to regulatory compliance requirements and can provide best-in-class system infrastructure for business continuity to support stakeholders in the commodity market value chain.