The Securities and Exchange Commission awarded a $50 million pilot contract for an electronic discovery program as the commission explores options for an enterprise cloud.
The SEC, which regulates securities and protects investors, awarded the pilot to Casepoint, a cloud-based technology company. Casepoint will create a storage platform for data the SEC collects related to its regulatory work.
According to the SEC’s statement of work, it receives about 3,500 new files each month, totaling 6-7 terabytes of data each month. After processing, that reaches 10 terabytes per month.
Through the pilot, the SEC seeks to reduce the cost of managing and maintaining these services itself. It also wants to improve access to its analytics tools, the statement of work said.