Notice Information
Notice Title
Investment Front Office Software System
Notice Description
The City of Edinburgh Council is administering authority of the Local Government Pension Scheme in Scotland for the Lothian area. Lothian Pension Fund (LPF) carries out specialist activities of investing assets (approximately GBP 7bn) and administering benefits of three funds on behalf of over 100 contributing employers and over 80,000 members. As part of the delivery of investment services, internal portfolio managers undertake equity and bond dealing regularly. This is currently managed using a fully manual system utilising Microsoft Excel Spreadsheets. Having adequate internal systems and controls is a requirement of the Financial Conduct Authority (FCA), particularly in the case of Lothian Pension Fund's regulated investment company, LPFI Limited. LPF therefore requires an effective and fully functioning 'Investment Front Office Software System' in order to ensure the efficiency of its investment management function, whilst at the same time satisfying regulatory requirements.
Lot Information
Lot 1
The City of Edinburgh Council (The Council) is the administering authority of the Local Government Pension Scheme (LGPS) in Scotland for the Lothian area. Lothian Pension Fund (LPF), which is not a separate legal entity from the Council, carries out the specialist activities of investing the assets (approximately GBP 7bn) and administering the benefits of three funds - Lothian Pension Fund, Lothian Buses Pension Fund and Scottish Homes Pension Fund - on behalf of over 100 contributing employers and over 80,000 members. LPF also collaborates with other LGPS funds on various projects and it is anticipated that this collaborative activity will continue into the future. As part of the delivery of investment services to LPF, the internal portfolio managers undertake equity and bond dealing regularly. This is currently managed using a fully manual system utilising Microsoft Excel Spreadsheets. Dealing activity amounts to several hundred million pounds in a typical year. Collaboration with other LGPS funds increases complexity and regulatory requirements increase the compliance and oversight burden, which means that a fully featured trading and portfolio tracking tool should help to mitigate risk and improve efficiency. Annual trading volumes for LPF internal portfolios have typically ranged between 1,000 - 2,000 trades (per annum) for internal equity portfolios, and 100 - 200 bond trades (per annum) for internal bond portfolios. Typical maximum trading volume figures on a per day basis are 200 trades per day for equities, and 50 trades per day for bonds. Note that these figures are indicative only and may be subject to change in future. Having adequate internal systems and controls is a requirement of the Financial Conduct Authority (FCA), particularly in the case of Lothian Pension Fund's regulated investment company, LPFI Limited.
Renewal: The Council intends to award a contract for delivery of the service for an initial period of 4 years. Subject to satisfactory performance and potential future requirements, the Council may wish to extend delivery of the contract for up to 3 additional periods of 1 year each (a total of up to 3 additional years).
Notice Details
Publication & Lifecycle
- Open Contracting ID
- ocds-r6ebe6-0000516388
- Publication Source
- Public Contracts Scotland
- Latest Notice
- https://www.publiccontractsscotland.gov.uk/search/show/search_view.aspx?ID=JAN342454
- Current Stage
- Award
- All Stages
- Tender, Award
Procurement Classification
- Notice Type
- OJEU - F3 - Contract Award Notice
- Procurement Type
- Standard
- Procurement Category
- Services
- Procurement Method
- Open
- Procurement Method Details
- Open procedure
- Tender Suitability
- Not specified
- Awardee Scale
- Large
Common Procurement Vocabulary (CPV)
- CPV Divisions
48 - Software package and information systems
-
- CPV Codes
48100000 - Industry specific software package
48411000 - Investment management software package
48441000 - Financial analysis software package
48442000 - Financial systems software package
Notice Value(s)
- Tender Value
- Not specified
- Lots Value
- Not specified
- Awards Value
- Not specified
- Contracts Value
- £3,259,369 £1M-£10M
Notice Dates
- Publication Date
- 16 Jan 20197 years ago
- Submission Deadline
- 23 Nov 2017Expired
- Future Notice Date
- Not specified
- Award Date
- 27 Dec 20187 years ago
- Contract Period
- Not specified - Not specified
- Recurrence
- Not specified
Notice Status
- Tender Status
- Complete
- Lots Status
- Complete
- Awards Status
- Not Specified
- Contracts Status
- Active
Buyer & Supplier
Contracting Authority (Buyer)
- Main Buyer
- THE CITY OF EDINBURGH COUNCIL
- Contact Name
- Claudine Persaud, Elaine Scott
- Contact Email
- claudine.persaud@edinburgh.gov.uk, elaine.scott@edinburgh.gov.uk
- Contact Phone
- +44 1314693727, +44 1315292277
Buyer Location
- Locality
- EDINBURGH
- Postcode
- EH8 8BG
- Post Town
- Edinburgh
- Country
- Scotland
-
- Major Region (ITL 1)
- TLM Scotland
- Basic Region (ITL 2)
- TLM1 East Central Scotland
- Small Region (ITL 3)
- TLM13 City of Edinburgh
- Delivery Location
- TLM75 City of Edinburgh
-
- Local Authority
- City of Edinburgh
- Electoral Ward
- City Centre
- Westminster Constituency
- Edinburgh East and Musselburgh
Further Information
Notice Documents
-
https://www.publiccontractsscotland.gov.uk/NoticeDownload/DownloadDocument.aspx?id=OCT299152&idx=8
26th October 2017 - ESPD Document -
https://www.publiccontractsscotland.gov.uk/NoticeDownload/DownloadDocument.aspx?id=OCT299152&idx=2
26th October 2017 - Tenderer's Submission Document - final v3 (24Oct17) -
https://www.publiccontractsscotland.gov.uk/NoticeDownload/DownloadDocument.aspx?id=OCT299152&idx=3
26th October 2017 - Current Process Additional Information -
https://www.publiccontractsscotland.gov.uk/NoticeDownload/DownloadDocument.aspx?id=OCT299152&idx=4
26th October 2017 - Instructions to Tenderers - final v3 (24Oct17) -
https://www.publiccontractsscotland.gov.uk/NoticeDownload/DownloadDocument.aspx?id=OCT299152&idx=5
26th October 2017 - Specification Document - final v3 (24Oct17) -
https://www.publiccontractsscotland.gov.uk/NoticeDownload/DownloadDocument.aspx?id=OCT299152&idx=6
26th October 2017 - Investment Front Office Software System - Cover Note -
https://www.publiccontractsscotland.gov.uk/NoticeDownload/DownloadDocument.aspx?id=OCT299152&idx=7
26th October 2017 - Pricing Schedule v3 (24Oct17) -
https://www.publiccontractsscotland.gov.uk/search/show/search_view.aspx?ID=OCT299152
Investment Front Office Software System - The City of Edinburgh Council is administering authority of the Local Government Pension Scheme in Scotland for the Lothian area. Lothian Pension Fund (LPF) carries out specialist activities of investing assets (approximately GBP 7bn) and administering benefits of three funds on behalf of over 100 contributing employers and over 80,000 members. As part of the delivery of investment services, internal portfolio managers undertake equity and bond dealing regularly. This is currently managed using a fully manual system utilising Microsoft Excel Spreadsheets. Having adequate internal systems and controls is a requirement of the Financial Conduct Authority (FCA), particularly in the case of Lothian Pension Fund's regulated investment company, LPFI Limited. LPF therefore requires an effective and fully functioning 'Investment Front Office Software System' in order to ensure the efficiency of its investment management function, whilst at the same time satisfying regulatory requirements. -
https://www.publiccontractsscotland.gov.uk/search/show/search_view.aspx?ID=JAN342454
Investment Front Office Software System - The City of Edinburgh Council is administering authority of the Local Government Pension Scheme in Scotland for the Lothian area. Lothian Pension Fund (LPF) carries out specialist activities of investing assets (approximately GBP 7bn) and administering benefits of three funds on behalf of over 100 contributing employers and over 80,000 members. As part of the delivery of investment services, internal portfolio managers undertake equity and bond dealing regularly. This is currently managed using a fully manual system utilising Microsoft Excel Spreadsheets. Having adequate internal systems and controls is a requirement of the Financial Conduct Authority (FCA), particularly in the case of Lothian Pension Fund's regulated investment company, LPFI Limited. LPF therefore requires an effective and fully functioning 'Investment Front Office Software System' in order to ensure the efficiency of its investment management function, whilst at the same time satisfying regulatory requirements.
Notice URLs
Open Contracting Data Standard (OCDS)
View full OCDS Record for this contracting process
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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