Front Office Software System Tender

Having adequate internal systems and controls is a requirement of the Financial Conduct Authority, particularly in the case of Lothian Pension Fund’s regulated investment company, LPFI Limited.

United Kingdom-Edinburgh: Industry specific software package

2017/S 174-356579

Contract notice

Services

Directive 2014/24/EU

Section I: Contracting authority

I.1)Name and addresses

The City of Edinburgh Council
Waverley Court, 4 East Market Street
Edinburgh
EH8 8BG
United Kingdom
Contact person: Brian McCreadie
Telephone: +44 1315292160
E-mail: brian.mccreadie@edinburgh.gov.uk
NUTS code: UKM75

Internet address(es):Main address: http://www.edinburgh.gov.uk

Address of the buyer profile: http://www.publiccontractsscotland.gov.uk/search/Search_AuthProfile.aspx?ID=AA00290

I.2)Joint procurement

I.3)Communication

The procurement documents are available for unrestricted and full direct access, free of charge, at: https://www.publiccontractsscotland.gov.uk

Additional information can be obtained from the abovementioned address

Tenders or requests to participate must be submitted electronically via: https://www.publiccontractsscotland.gov.uk

Electronic communication requires the use of tools and devices that are not generally available. Unrestricted and full direct access to these tools and devices is possible, free of charge, at: https://www.publiccontractsscotland.gov.uk

I.4)Type of the contracting authority

Regional or local authority

I.5)Main activity

General public services

Section II: Object

II.1)Scope of the procurement

II.1.1)Title:

Investment Front Office Software System.

Reference number: CT2251

II.1.2)Main CPV code

48100000

II.1.3)Type of contract

Services

II.1.4)Short description:

The City of Edinburgh Council is administering authority of the Local Government Pension Scheme in Scotland for the Lothian area. Lothian Pension Fund (LPF) carries out specialist activities of investing assets (approximately 7 000 000 000 GBP) and administering benefits of 3 funds on behalf of over 100 contributing employers and over 80 000 members.

As part of the delivery of investment services, internal portfolio managers undertake equity and bond dealing regularly. This is currently managed using a fully manual system utilising Microsoft Excel Spreadsheets.

Having adequate internal systems and controls is a requirement of the Financial Conduct Authority (FCA), particularly in the case of Lothian Pension Fund’s regulated investment company, LPFI Limited. LPF therefore requires an effective and fully functioning ‘Investment Front Office Software System’ in order to ensure the efficiency of its investment management function, whilst at the same time satisfying regulatory requirements.

II.1.5)Estimated total value

II.1.6)Information about lots

This contract is divided into lots: no

II.2)Description

II.2.1)Title:

II.2.2)Additional CPV code(s)

48411000

48441000

48442000

II.2.3)Place of performance

NUTS code: UKM75

Main site or place of performance:

Edinburgh,Scotland.

II.2.4)Description of the procurement:

The City of Edinburgh Council (The Council) is the administering authority of the Local Government Pension Scheme (LGPS) in Scotland for the Lothian area. Lothian Pension Fund (LPF), which is not a separate legal entity from the Council, carries out the specialist activities of investing the assets (approximately 7 000 000 000 GBP) and administering the benefits of 3 funds — Lothian Pension Fund, Lothian Buses Pension Fund and Scottish Homes Pension Fund — on behalf of over 100 contributing employers and over 80 000 members.

LPF also collaborates with other LGPS funds on various projects and it is anticipated that this collaborative activity will continue into the future.

As part of the delivery of investment services to LPF, the internal portfolio managers undertake equity and bond dealing regularly. This is currently managed using a fully manual system utilising Microsoft Excel Spreadsheets. Dealing activity amounts to several hundred million pounds in a typical year. Collaboration with other LGPS funds increases complexity and regulatory requirements increase the compliance and oversight burden, which means that a fully featured trading and portfolio tracking tool should help to mitigate risk and improve efficiency.

Annual trading volumes for LPF internal portfolios have typically ranged between 1 000 — 2 000 trades (per annum) for internal equity portfolios, and 100 — 200 bond trades (per annum) for internal bond portfolios. Typical maximum trading volume figures on a per day basis are 200 trades per day for equities, and 50 trades per day for bonds. Note that these figures are indicative only and may be subject to change in future.

II.2.5)Award criteria

Price is not the only award criterion and all criteria are stated only in the procurement documents

II.2.6)Estimated value

II.2.7)Duration of the contract, framework agreement or dynamic purchasing system

Duration in months: 84

This contract is subject to renewal: yes

Description of renewals:

The Council intends to award a contract for delivery of the service for an initial period of 4 years. Subject to satisfactory performance and potential future requirements, the Council may wish to extend delivery of the contract for up to 3 additional periods of 1 year each (a total of up to 3 additional years).

II.2.10)Information about variants

Variants will be accepted: no

II.2.11)Information about options

Options: no

II.2.12)Information about electronic catalogues

II.2.13)Information about European Union funds

The procurement is related to a project and/or programme financed by European Union funds: no

II.2.14)Additional information

Section III: Legal, economic, financial and technical information

III.1)Conditions for participation

III.1.1)Suitability to pursue the professional activity, including requirements relating to enrolment on professional or trade registers

III.1.2)Economic and financial standing

Selection criteria as stated in the procurement documents

III.1.3)Technical and professional ability

Selection criteria as stated in the procurement documents

III.1.5)Information about reserved contracts

III.2)Conditions related to the contract

III.2.1)Information about a particular profession

III.2.2)Contract performance conditions:

III.2.3)Information about staff responsible for the performance of the contract

Section IV: Procedure

IV.1)Description

IV.1.1)Type of procedure

Open procedure

IV.1.3)Information about a framework agreement or a dynamic purchasing system

IV.1.4)Information about reduction of the number of solutions or tenders during negotiation or dialogue

IV.1.6)Information about electronic auction

IV.1.8)Information about the Government Procurement Agreement (GPA)

The procurement is covered by the Government Procurement Agreement: yes

IV.2)Administrative information

IV.2.1)Previous publication concerning this procedure

IV.2.2)Time limit for receipt of tenders or requests to participate

Date: 10/10/2017

Local time: 12:00

IV.2.3)Estimated date of dispatch of invitations to tender or to participate to selected candidates

IV.2.4)Languages in which tenders or requests to participate may be submitted:

English

IV.2.6)Minimum time frame during which the tenderer must maintain the tender

Tender must be valid until: 09/03/2018

IV.2.7)Conditions for opening of tenders

Date: 10/10/2017

Local time: 12:30

Section VI: Complementary information

VI.1)Information about recurrence

This is a recurrent procurement: no

VI.2)Information about electronic workflows

Electronic ordering will be used

Electronic invoicing will be accepted

Electronic payment will be used

VI.3)Additional information:

Note: To register your interest in this notice and obtain any additional information please visit the Public Contracts Scotland Web Site at http://www.publiccontractsscotland.gov.uk/Search/Search_Switch.aspx?ID=511162

The buyer has indicated that it will accept electronic responses to this notice via the Postbox facility. A user guide is available at http://www.publiccontractsscotland.gov.uk/sitehelp/help_guides.aspx

Suppliers are advised to allow adequate time for uploading documents and to dispatch the electronic response well in advance of the closing time to avoid any last minute problems.

(SC Ref:511162)

Download the ESPD document here: http://www.publiccontractsscotland.gov.uk/ESPD/ESPD_Download.aspx?id=511162

VI.4)Procedures for review

VI.4.1)Review body

The City of Edinburgh Council
Waverley Court, 4 East Market Street
Edinburgh
EH8 8BG
United Kingdom
Telephone: +44 1314693922Internet address:http://www.edinburgh.gov.uk

VI.4.2)Body responsible for mediation procedures

The City of Edinburgh Council
Waverley Court, 4 East Market Street
Edinburgh
EH8 8BG
United Kingdom
Telephone: +44 1315292160Internet address:http://www.edinburgh.gov.uk

VI.4.3)Review procedure

Precise information on deadline(s) for review procedures:

A tenderer that suffers loss as a result of a breach of duty under the Public Contracts (Scotland) Regulations 2015 may bring proceedings in the Sheriff Court or the Court of Session. The City of Edinburgh Council (the Council) will have a minimum standstill period of 10 days before awarding the contract. The communication of the award decision notice will be sent by fax or e-mail to all tenderers with the standstill period commencing on the next day. If proceedings are started in the Sheriff Court or the Court of Session against the Council in respect of the decision to award the contract within the standstill period then the Council is prevented from awarding the contract. Post contract award the Sheriff Court or the Court of Session may (1) award damages provided proceedings are brought within 3 months from the date when the grounds for the bringing of the proceedings first arose (2) be entitled to issue an ineffectiveness order or impose a financial penalty on the Council. A claim for an ineffectiveness order must be made within 30 days of the Contract Award Notice being published in the OJEU or within 30 days of the date those who expressed an interest in or otherwise bid for the contract were informed of the conclusion of the contract or in any other case within 6 months from the date on which the contract was entered into.

VI.4.4)Service from which information about the review procedure may be obtained

VI.5)Date of dispatch of this notice:

08/09/2017