Award

Market Data Software Subscription

NATIONAL AUDIT OFFICE

This public procurement record has 1 release in its history.

Award

05 Feb 2025 at 10:09

Award Notice
Summary of the contracting process

The National Audit Office has completed a public procurement process for a Market Data Software Subscription, awarding the contract to Refinitiv Ltd. The contract, falling under the CPV category of Business services such as law, marketing, consulting, recruitment, printing, and security, is valued at £591,600 inclusive of VAT for the full five-year period. The service provides access to asset and liability prices as well as economic and market data to support NAO's financial audits. Commencing on 1st April 2022, the contract runs for an initial period of two years, extended by an additional 12 months from 1st April 2025 to 31st March 2026, with potential further extensions. This open procedure (above threshold) was concluded under the award stage as of January 2025.

This tender offers significant opportunities for businesses in the financial data and software sectors, especially those capable of providing reliable and comprehensive market data solutions. Small and medium-sized enterprises (SMEs) and voluntary, community, and social enterprises (VCSEs) will find this contract well-aligned with their capabilities. By securing such contracts, businesses can enhance their market presence and contribute to high-profile financial audits, demonstrating the value and efficiency of their products in critical governmental processes.

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Notice Information

Notice Title

Market Data Software Subscription

Notice Description

The National Audit Office awarded a contract to Refinitiv Ltd who will be providing a product that provides quick and efficient access to asset and liability prices as well as economic and market data to inform NAO financial audit and value for money audit work. The contract commenced on Friday 1st April 2022 running for an initial period of 2 years with 3, 12 months optional extensions. The contract value for this service will be PS591,600 inclusive of VAT over the 5 years contract period. As if January 2025, the contract has been extended for 12 months from Tuesday 1st April 2025 to Tuesday 31st March 2026.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-7f281db3-7d06-4d0b-902c-b2c64a431caf
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/727b74a5-b0ea-4867-aea0-b84913d823b4
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure (above threshold)
Tender Suitability
SME, VCSE
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

79 - Business services: law, marketing, consulting, recruitment, printing and security

CPV Codes

79000000 - Business services: law, marketing, consulting, recruitment, printing and security

Notice Value(s)

Tender Value
£591,600 £500K-£1M
Lots Value
Not specified
Awards Value
£591,600 £500K-£1M
Contracts Value
Not specified

Notice Dates

Publication Date
5 Feb 20251 years ago
Submission Deadline
29 Mar 2022Expired
Future Notice Date
Not specified
Award Date
29 Mar 20223 years ago
Contract Period
31 Mar 2022 - 31 Mar 2027 Over 5 years
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Not Specified
Awards Status
Active
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
NATIONAL AUDIT OFFICE
Contact Name
ima orosei
Contact Email
ima.orosei@nao.org.uk
Contact Phone
44 20 7798 5343

Buyer Location

Locality
LONDON
Postcode
SW1W 9SP
Post Town
South West London
Country
England
Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI3 Inner London - West
Small Region (ITL 3)
TLI35 Westminster and City of London
Delivery Location
Not specified
Local Authority
Westminster
Electoral Ward
Pimlico North
Westminster Constituency
Cities of London and Westminster

Supplier Information

Number of Suppliers
1
Supplier Name

REFINITIV

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

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The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector. It is widely used by governments and organisations worldwide to report on procurement processes and contracts. 

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