Published date: 5 August 2019
Closed opportunity - This means that the contract is currently closed. The buying department may be considering suppliers that have already applied, or no suitable offers were made.
Contract summary
Industry
Software package and information systems - 48000000
IT services: consulting, software development, Internet and support - 72000000
Hardware selection consultancy services - 72110000
Software programming and consultancy services - 72200000
Software maintenance and repair services - 72267000
Location of contract
South East
Value of contract
£3,000,000
Procurement reference
BOE001-DN393126-32882509
Published date
5 August 2019
Closing date
4 September 2019
Contract start date
30 April 2020
Contract end date
29 April 2025
Contract type
Service contract
Procedure type
Negotiated procedure
Contract is suitable for SMEs?
Yes
Contract is suitable for VCSEs?
No
Description
Through this procurement process the Bank is seeking to select an Economic Operator who can provide the following services*:
- Provision of technology products including software ,hardware and related services.
- Solution Capability to support the following use cases
a) Limits Configuration in System - ability to accurately apply limits at point of trade against a variety of different models and metrics.
b) Trade Controls - visibility into real time limits usage, the ability to block trade input that would breach trade limits, and limit reserving/optimisation.
c) Evaluation and Risk Modelling - ability to plumb custom built models in the risk system and distribute calculations efficiently.
d) End of Day calculations- ability to aggregate data from a variety of systems and databases, call calculations and produce end of day processes.
e) Risk Reporting - experience of creating real time risk dashboards, and the ability to allow users to create and customise reports.
f) Analytics - visualisation tools and scenario what if capability, covering variations in market data and in portfolio composition.
And has the capability to assist the Bank in:
- Successful implementation and integration of the solution
- Strategic planning and execution
- Innovation in the delivery of the services
- Adding additional services and/or removal of scope as required during the Term.
*This list of services is not finalized or exclusive and is subject to refinement through the course of the procurement process.
It is anticipated that a maximum of five (5) Bidders will receive the invitation to tender (ITT) following the Selection Questionnaire (SQ). Following the evaluation of the initial tender , the Contracting Authority reserves the rights to award on an initial tender or short-list three (3) highest scoring Bidders and invite to participate in negotiation (ITN) which will be followed by Invitation to submit Final Tender submissions, the highest scoring of which will be the preferred bidder.
More information
Additional text
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All Bidders will be required to enter into a Non-Disclosure Agreement (NDA) with the Bank prior to the SQ phase. Electronic access to the Non-Disclosure Agreement (NDA) is available at www.bankofenglandtenders.co.uk.
Suppliers who wish to participate in this procurement process must submit their expressions of interest with a signed NDA at the earliest to gain access to the SQ.
About the buyer
Contact name
Paul Abrahart
Address
Threadneedle St
London
EC2R 8AH
England
technology.contracts@bankofengland.co.uk
Website
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Closing: 4 September 2019
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