Award

Forwards365 Data Contract

BANK OF ENGLAND

This public procurement record has 1 release in its history.

Award

04 Mar 2024 at 12:33

Award Notice
Summary of the contracting process

The Bank of England has awarded a contract for the provision of spot and forward benchmark and reference data for market FX rates to NEW CHANGE CURRENCY CONSULTANTS LIMITED. The contract, titled "Forwards365 Data Contract," falls under the goods category and has been awarded using a limited procurement method without prior publication of a call for competition. The contract, valued at 216,000 GBP, was signed on January 17, 2024. The Bank of England, acting as the buyer, is located in London, United Kingdom.

This tender presents an opportunity for businesses specializing in software packages and information systems to compete for providing benchmark and reference data services to the Bank of England. Companies with expertise in financial data analysis and FX market rates may find this tender particularly suited to their capabilities. The tender process has already reached the award stage, and the successful supplier, NEW CHANGE CURRENCY CONSULTANTS LIMITED, can leverage this contract to grow its business and enhance its reputation in the financial technology sector.

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Notice Information

Notice Title

Forwards365 Data Contract

Notice Description

Contract award to NCFX for Forwards365 Data. The services are for spot and forward benchmark and reference data for market FX rates.

Lot Information

Lot 1

The services are for spot and forward benchmark and reference data for market FX rates.

Procurement Information

No other data provider has sought FCA accreditation for their benchmarks. All other transaction cost analysis (TCA) providers require give-up of trade data directly, without an independent benchmark rate.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-044521
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/006830-2024
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Goods
Procurement Method
Limited
Procurement Method Details
Award procedure without prior publication of a call for competition
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

48 - Software package and information systems

CPV Codes

48000000 - Software package and information systems

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
£216,000 £100K-£500K

Notice Dates

Publication Date
4 Mar 20241 years ago
Submission Deadline
Not specified
Future Notice Date
Not specified
Award Date
17 Jan 20242 years ago
Contract Period
Not specified - Not specified
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Cancelled
Awards Status
Active
Contracts Status
Active

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
BANK OF ENGLAND
Contact Name
Technology Procurement Team
Contact Email
technology.contracts@bankofengland.co.uk
Contact Phone
Not specified

Buyer Location

Locality
LONDON
Postcode
EC2R 8AH
Post Town
Central 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
City of London
Electoral Ward
Walbrook
Westminster Constituency
Cities of London and Westminster

Supplier Information

Number of Suppliers
1
Supplier Name

NEW CHANGE CURRENCY CONSULTANTS

Further Information

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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