Custody and Investment Operations Outsourcing Services

A Contract Award Notice
by PENSION PROTECTION FUND

Source
Find a Tender
Type
Contract (Services)
Duration
not specified
Value
£53M
Sector
BUSINESS
Published
15 Dec 2021
Delivery
not specified
Deadline
n/a

Concepts

Location

Geochart for 1 buyers and 2 suppliers

1 buyer

2 suppliers

Description

Custody and Investment Operations Outsourcing (IOO) Services. Custodian Services also include Fund accounting and transfer agency services (unitisation). We may also appoint a second/reserve Custodian to manage some of the PPF’s assets, the exact amount is to be confirmed.

Total Quantity or Scope

We may also look to appoint a second/reserve Custodian to manage some of the PPF’s assets, the exact amount is to be confirmed. The stated value is a current estimate. Our estimated range is between £9m to £53m as we are aware that the actual value could vary significantly according to a number of potential factors over the life of the contract. Additional information: Total contract length stated is based on the maximum possible contract term of 10 years. The initial contract term for Custody is 5 years and IOO 3 years. The minimum contract value and maximum contract values are based on the initial contract term and maximum contract term to be spread across the primary and reserve/secondary custodian exact split is unknown at this stage.

Award Detail

1 Northern Trust (Canary Wharf London)
  • Custody and IOO Services
  • Reference: 031337-2021-primary custodian-1
  • Value: £53,000,000
2 Jpmorgan Chase Bank (London)
  • Reserve/Secondary Custodian
  • Reference: 031337-2021-reserve/secondary custodian-2
  • Value: £53,000,000

Award Criteria

Custody Service Delivery & Support 20%
Custody – Connectivity with PPF Systems and PPF third parties 10%
Custody Performance Regime 10%
IOO Service Delivery 15%
IOO Performance Regime 10%
Project mobilisation, implementation and timing 10%
Carbon Reduction Plan and ESG 5%
Price 10%
Price Sensitivity 5%
Contract 5%
price 10%

CPV Codes

  • 66162000 - Custody services
  • 66151000 - Financial market operational services
  • 66172000 - Financial transaction processing and clearing-house services

Other Information

** PREVIEW NOTICE, please check Find a Tender for full details. **

Reference

Domains