Brocade Communications Systems Inc. (Nasdaq: BRCD) has announced a "multimillion-dollar" SAN contract with the Depository Trust & Clearing Corporation (DTCC).
The news is well timed, to say the least, coming as it does just prior to Brocade's second-quarter earnings report, due after market close Wednesday. Indeed, Brocade was unavailable for comment due to the required quiet period before its report.
The specific worth of the contract was not disclosed.
Based in New York, the DTCC is the holding company for the world's largest depository of securities. Its client list includes a large number of brokerage houses, securities firms, banks, trust companies, insurance providers, investment managers, and mutual fund companies. Clients include The National Association of Securities Dealers and the New York Stock Exchange.
In total, DTCC holds more than $23 trillion worth of equity, corporate debt, and municipal bond transactions; it serves more than 40,000 end users; and last year it processed more than 2.6 billion transactions valued at more than $100 trillion.