📑Improved collateral management, security settlement and custody activity solution.
Procurement process summary
This process is to purchase Improved collateral management, security settlement and custody activity solution.
This contract was awarded by 🇬🇧 Bank of England for an amount of GBP 2,520,833 to 1 supplier. It was published on 2011-06-16 through selective
Transparency in this process is reflected in the detailed publication of all aspects of the contract and its results.
Buying entity🇬🇧 Bank of England Buying unitnot reported Publication date2011-06-16 Contest statusnot reported DescriptionThe Bank of England is seeking to contract for assistance in implementing a Single collateral pool (SCP) model for a range of operations.The key component of this contract for service is to provide an IT solution that can support the Bank of England's intended SCP model for collateral management and support settlement and custody activity, including asset servicing for securities as well as other asset types.We are particularly interested in bids where part or all of the solution is delivered by an existing, commercially available product.The contract will also presumptively include provision of an interface to help the Bank's counterparties to manage their collateral positions with the Bank; a final decision on this will be made later in the process. The solution provider would be expected to implement the solution with the Bank and, on a model agreed with the Bank, help facilitate on-going support requirements.Awards
This award was granted to Vermeg by Bank of England for an amount of GBP 2,520,833. The procurement process was conducted through selective for the category of services. This is award number 1.
| Supplier | Amount | Award number |
|---|---|---|
| 🇹🇳 Vermeg | GBP 2,520,833 | 1 |
Market context and opportunities
The execution of this contract allows the entity Bank of England to fulfill its public service objectives efficiently.
The selective purchase modality ensures that the process is transparent and compliant with regulations.
Transparency in this process is reflected in the detailed publication of all aspects of the contract and its results.
This transparency in public procurement promotes fair competition, prevents corruption, and ensures that public resources are used efficiently for the benefit of citizens.
Additional data
Contract NumberUK_ocds-70d2nz-fa5df09c-7e6f-42fa-9816-03e404cb4d58-award-1Publication date2011-06-16Contract datenot reportedAward datenot reportedCategoriesservicesPurchase modalityselectiveMethod detailspt_restrictedStatusnot reportedData sources
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