Award

Ask AI about this notice

Summarise, research or assess it with AI

View Markdown

Share this notice

Send this contract to a colleague

SYPA - Custodian Procurement - LGPS Framework Agreement (NCCT42038)

MERCELL UK Ltd

This public procurement record has 3 releases in its history.

AwardUpdate

08 May 2025 at 20:18

Award Notice
AwardUpdate

30 Apr 2025 at 15:51

Award Notice
Award

06 Dec 2024 at 11:39

Award Notice
Summary of the contracting process

The South Yorkshire Pensions Authority (SYPA) has successfully completed the procurement process for the provision of Global Custody Services under the Local Government Pension Scheme (LGPS) Framework Agreement, titled "SYPA - Custodian Procurement - LGPS Framework Agreement (NCCT42038)". This tender involved a restricted procedure as the procurement method, aimed at securing trust and custody services, classified under the CPV codes relating to banking and investment services. The contract, valued at £603,999, was awarded to Northern Trust on 23rd October 2024 and will span from 1st November 2024 to 31st October 2033. The location of services includes Barnsley, South Yorkshire, and extends to various international locations, including British Overseas Territories and Europe.

This tender presents significant opportunities for large financial institutions specialising in banking, investment, and custody services, particularly those with existing capabilities and interests in global service provision. Although this opportunity is not suitable for SMEs or VCSEs, businesses akin to Northern Trust, which have experience in delivering comprehensive trust and custody services, are well positioned to benefit from participating in such tenders. Furthermore, the long contract period offers stability and sustained engagement in servicing the diverse and expansive geographical areas outlined within the tender, thereby fostering business growth and potential expansion into new markets.

How relevant is this notice?

Notice Information

Notice Title

SYPA - Custodian Procurement - LGPS Framework Agreement (NCCT42038)

Notice Description

South Yorkshire Pensions Authority - Provider to supply Global Custody Services as set out in the Framework tender documents.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-b9ab3613-041c-4f38-bdb5-a24342085963
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/16dbc078-78db-4d4b-a499-e66355883aa4
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Framework
Procurement Category
Services
Procurement Method
Selective
Procurement Method Details
Restricted procedure
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66100000 - Banking and investment services

66160000 - Trust and custody services

66162000 - Custody services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
£284,558 £100K-£500K
Contracts Value
Not specified

Notice Dates

Publication Date
8 May 20251 years ago
Submission Deadline
20 Sep 2024Expired
Future Notice Date
Not specified
Award Date
23 Oct 20241 years ago
Contract Period
1 Nov 2024 - 31 Oct 2033 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
MERCELL UK Ltd
Additional Buyers

South Yorkshire Pensions Authority

Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
BARNSLEY, SOUTH YORKSHIRE
Postcode
S71 1HG
Postcode Area
Sheffield
Country
England
Major Region (ITL 1)
TLE Yorkshire and The Humber
Basic Region (ITL 2)
TLE3 South Yorkshire
Small Region (ITL 3)
TLE33 Barnsley
Delivery Location
Not specified
Local Authority
Barnsley
Electoral Ward
Central
Westminster Constituency
Barnsley North

Supplier Information

Number of Suppliers
1
Supplier Name

Northern Trust

Further Information

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

JSON Markdown

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.

Loading OCDS record...