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ENQEIR997 FASS Credit Management Services

SONI Ltd

This public procurement record has 1 release in its history.

Tender

16 Mar 2026 at 09:55

UK4 - Tender Notice
Summary of the contracting process

This procurement process is initiated by SONI Ltd, a private utility based in Belfast, United Kingdom, requiring credit management services under the FASS Programme. The tender titled "ENQEIR997 FASS Credit Management Services" falls within the industry category of financial services, specifically targeting financial consultancy, transaction-processing, and financial systems software. The procurement is at the tender stage with key deadlines including an expression of interest deadline on 10 April 2026 and an award decision anticipated by 1 June 2026. The service includes credit management for the Day Ahead System Services Auction (DASSA) and the handling of collateral for market-related activities. The contract is valued at approximately €1,071,453, with a potential extension of three years beyond the initial five-year term.

This tender offers substantial growth opportunities for businesses specialising in financial transaction processing and consultancy, particularly those proficient in automated system interfaces. Companies engaging in the development of financial software, as well as those with experience in securities and commodities brokerage, will find this opportunity suited to their capabilities. Eligible businesses, including SMEs, stand to provide crucial services to TSOs in Ireland and the UK, enhancing their visibility and scope within these markets. The procurement method involves a competitive flexible procedure, requiring selected firms to demonstrate robust quality management systems and relevant prior experience via a documented pre-qualification questionnaire.

How relevant is this notice?

Notice Information

Notice Title

ENQEIR997 FASS Credit Management Services

Notice Description

This notice does not commence a competitive tendering process. For the detailed requirements and relevant documentation, please see the Call for Competition, published on https://www.etenders.gov.ie/epps/cft/listContractDocuments.do?resourceId=7694501. Description: The TSOs are developing competitive market arrangements for system services under the FASS Programme (Future Arrangements for System Services). The TSOs require that all markets under FASS are fully collateralised. To accomplish this the TSOs require credit management services to be provided by a third party, who will assume and manage the credit risk to the TSOs, including the implementation of automated system-to-system interfaces to enable this service. (1) The primary service required by the TSOs is credit management for DASSA (Day Ahead System Services Auction) secondary trading. (2) A secondary element of the service is the management of a fixed amount of collateral for providers to cover other aspects of the FASS markets including but not limited to any performance related payments due to the TSOs (e.g. DASSA compensation payments) and resettlement. Full information relating to our requirement can be found in the accompanying procurement documents 'FASS PQQ and Information Memorandum'. Please note that the value of this tender reflects the amount expected to be paid by EirGrid and SONI for this implementation and maintenance of this service. The TSOs expect that the operational costs for providing this service will be recovered from market participants, reflecting the cost to the tenderer to manage market participants' credit cover. As such, the value of the tender reflects only the portion of the total value payable by EirGrid and SONI to the tenderer.

Lot Information

Lot 1

Renewal: Option to extend annually for a further 3 years

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-066a99
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/023324-2026
Current Stage
Tender
All Stages
Tender

Procurement Classification

Notice Type
UK4 - Tender Notice
Procurement Type
Framework
Procurement Category
Services
Procurement Method
Selective
Procurement Method Details
Competitive flexible procedure
Tender Suitability
SME
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

48 - Software package and information systems

66 - Financial and insurance services

72 - IT services: consulting, software development, Internet and support

CPV Codes

48100000 - Industry specific software package

48217000 - Transaction-processing software package

48441000 - Financial analysis software package

48442000 - Financial systems software package

48812000 - Financial information systems

66100000 - Banking and investment services

66130000 - Brokerage and related securities and commodities services

66131000 - Security brokerage services

66132000 - Commodity brokerage services

66133000 - Processing and clearing services

66152000 - Financial market regulatory services

66170000 - Financial consultancy, financial transaction processing and clearing-house services

72232000 - Development of transaction processing and custom software

Notice Value(s)

Tender Value
£1,071,453 £1M-£10M
Lots Value
£1,071,453 £1M-£10M
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
16 Mar 20266 months ago
Submission Deadline
Not specified
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
1 Jun 2026 - 31 May 2031 Over 5 years
Recurrence
Not specified

Notice Status

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

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
SONI Ltd
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
BELFAST
Postcode
BT6 9RT
Postcode Area
Northern Ireland
Country
Northern Ireland
Major Region (ITL 1)
TLN Northern Ireland
Basic Region (ITL 2)
TLN0 Northern Ireland
Small Region (ITL 3)
TLN0E Lisburn and Castlereagh
Delivery Location
Not specified
Local Authority
Lisburn and Castlereagh
Electoral Ward
Moneyreagh
Westminster Constituency
Belfast South and Mid Down

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

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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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