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Global Custody Services

Glasgow City Council as the administering authority for the Strathclyde Pension Fund

This public procurement record has 1 release in its history.

Tender

28 Aug 2020 at 01:00

OJEU - F2 - Contract Notice
Summary of the contracting process

Glasgow City Council, acting as the administering authority for the Strathclyde Pension Fund, has initiated a tender for "Global Custody Services". This procurement, classified under services and focusing on economic affairs, is located in Glasgow, UK. The current stage of the procurement process is active, with the submission deadline set for 2nd October 2020, and the bid opening on the same date. This open procedure seeks to appoint a global custodian to ensure the safe keeping and settlement of assets for the pension fund, in compliance with Local Government Pension Scheme (LGPS) regulations.

This tender creates significant opportunities for companies specialising in global custody services, particularly those that can provide a robust custody network and meet the stringent regulatory requirements outlined by the Strathclyde Pension Fund. Businesses that possess substantial assets under custody, a strong capital ratio, and FCA authorisation, along with experience in managing UK pension fund assets, would be best suited to compete. Firms must also demonstrate their capability to manage multi-manager investment structures across varied asset classes, making this an attractive opportunity for both established custodians and those looking to expand their service offerings in the public procurement space.

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Notice Information

Notice Title

Global Custody Services

Notice Description

Glasgow City Council, as administering authority to the Strathclyde Pension Fund, is seeking to appoint a global custodian or custodians ("the Custodian") to provide a global custody network (either directly or via a sub custodian arrangement) for safe keeping and settlement of assets, investment accounting and performance measurement services, supporting a multi-manager investment structure covering the major and alternative asset classes held in segregated mandates and pooled funds. The Custodian will need to be able to comply with LGPS regulations. The contract will commence on the Commencement Date as detailed in the contract and shall continue in full force and effect until terminated in accordance with the terms of the CSA. The contract will commence on the Commencement Date as detailed in the contract and shall continue in full force and effect until terminated in accordance with the terms of the CSA. Please refer to Clause 2.1 of the attached MCA for full details.

Lot Information

Lot 1

Glasgow City Council, as administering authority to the Strathclyde Pension Fund is seeking to appoint a global custodian or custodians ("the Custodian") to provide a global custody network (either directly or via a sub custodian arrangement) for safe keeping and settlement of assets, investment accounting and performance measurement services, supporting a multi-manager investment structure covering the major and alternative asset classes held in segregated mandates and pooled funds. The Custodian will need to be able to comply with LGPS regulations. The contract will commence on the Commencement Date as detailed in the contract and shall continue in full force and effect until terminated in accordance with the terms of the CSA. The contract will commence on the Commencement Date as detailed in the contract and shall continue in full force and effect until terminated in accordance with the terms of the CSA. Please refer to Clause 2.1 of the attached MCA for full details.

Renewal: As per the Master Custody Agreement.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-r6ebe6-0000622176
Publication Source
Public Contracts Scotland
Latest Notice
https://www.publiccontractsscotland.gov.uk/search/show/search_view.aspx?ID=AUG393452
Current Stage
Tender
All Stages
Tender

Procurement Classification

Notice Type
OJEU - F2 - Contract Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure
Tender Suitability
Not specified
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66141000 - Pension fund management services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
28 Aug 20206 years ago
Submission Deadline
2 Oct 2020Expired
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
Not specified - Not specified
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
Glasgow City Council as the administering authority for the Strathclyde Pension Fund
Additional Buyers

Glasgow City Council

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

Buyer Location

Locality
GLASGOW
Postcode
G2 9EW
Postcode Area
Glasgow
Country
Scotland
Major Region (ITL 1)
TLM Scotland
Basic Region (ITL 2)
TLM3 West Central Scotland
Small Region (ITL 3)
TLM32 Glasgow City
Delivery Location
TLM82 Glasgow City
Local Authority
Glasgow City
Electoral Ward
Anderston/City/Yorkhill
Westminster Constituency
Glasgow North East

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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