Investment Order Management System - Lothian Pension Fund (LPF)

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        "title": "Investment Order Management System - Lothian Pension Fund (LPF)",
        "description": "The City of Edinburgh Council (the Council) is administering authority of the Lothian Pension Fund (LPF). Lothian Pension Fund (LPF) is seeking to establish a new contract for an Order Management System (OMS). The OMS is an ongoing requirement to support the investment of the listed assets of Lothian Pension Fund under internal management or under the management of Lothian Pension Fund's subsidiary company, LPFI Limited. This service is regulated by the Financial Conduct Authority and as such an automated Order Management System is required. This procurement process will be competitive dialogue process in line with Public Contracts (Scotland) Regulations 31.",
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                "title": "Investment Order Management System - Lothian Pension Fund (LPF)",
                "description": "The City of Edinburgh Council (the Council) is administering authority of the Lothian Pension Fund (LPF). Lothian Pension Fund (LPF) is seeking to establish a new contract for an Order Management System (OMS). The OMS is an ongoing requirement to support the investment of the listed assets of Lothian Pension Fund under internal management or under the management of Lothian Pension Fund's subsidiary company, LPFI Limited. This service is regulated by the Financial Conduct Authority and as such an automated Order Management System is required. This procurement process will be competitive dialogue process in line with Public Contracts (Scotland) Regulations 31.",
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                "description": "The City of Edinburgh Council (the Council) is the administering authority of Lothian Pension Fund (LPF). LPF requires a new contract for an Order Management System (OMS). The OMS is an ongoing requirement to support the investment of LPF assets under internal management and the client assets under the management of LPF's subsidiary company, LPFI Limited. Without the functionality of an OMS, LPF and LPFI are exposed to greater risk of trading errors, regulatory breaches and reduced efficiency, all of which may also impair investment performance. LPFI provides investment management services to external clients. This service is regulated by the Financial Conduct Authority and the strong control environment and operational resilience required under this regulatory oversight increases the need for an automated Order Management System. The system must maintain availability based on a 24/7 working week. The requirement will be for the supplier to be able to implement the new solution within 6 months of the contract award including connectivity to LPF's custodian, Northern Trust.. Failure to complete both the online SPD and the attached Selection Questionnaire may result in the bid being rejected as non-compliant.",
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                    "minimum": "The bidder should provide its (general) yearly turnover for the number of financial years specified - Number of financial years and minimum required turnover per year - A minimum general annual turnover of 1620000 (GBP) for each of the last two financial years. 4B5b Insurance - Employer's (Compulsory) Liability The Bidder confirms they already have or can commit to obtain, prior to the commencement of the contract, the levels of Employer's (Compulsory) Liability Insurance cover indicated. Minimum amount - 10 million (GBP) 4B5c Insurance - All other types listed The Bidder confirms they already have or can commit to obtain, prior to the commencement of the contract, the levels of all other types of insurance cover indicated. Minimum amount - Type of insurance 5 million (GBP) Public Liability 5 million (GBP) - Professional Indemnity Question 4B.6 (Financial Stability)Bidders must provide - Annual Reports: Last two years of audited Financial Statements. Criteria: Unqualified audit opinion, prepared under the going concern basis, with no material misstatements. Internal Controls: Last two audited internal controls reports (SOC2 Type 2 or equivalent). Criteria: Unqualified audit opinion with no material breaches noted."
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    "language": "EN",
    "description": "This procurement is being conducted by The City of Edinburgh Council in its capacity as the Administering Authority of the Lothian Pension Fund, a fund within the Local Government Pension Scheme (LGPS) in Scotland. All references to 'the Authority' or 'the Buyer' within the tender documentation refer to the City of Edinburgh Council acting on behalf of the Lothian Pension Fund. NOTE: To register your interest in this notice and obtain any additional information please visit the Public Contracts Scotland Web Site at http://www.publiccontractsscotland.gov.uk/Search/Search_Switch.aspx?ID=826734. The buyer has indicated that it will accept electronic responses to this notice via the Postbox facility. A user guide is available at http://www.publiccontractsscotland.gov.uk/sitehelp/help_guides.aspx. Suppliers are advised to allow adequate time for uploading documents and to dispatch the electronic response well in advance of the closing time to avoid any last minute problems. The Contracting Authority does not intend to include a sub-contract clause as part of community benefits (as per Section 25 of the Procurement Reform (Scotland) Act 2014) in this contract for the following reason: The Contracting Authority does not intend to include a sub-contract clause for this procurement as the subject matter concerns a highly specialized and integrated Order Management System (OMS). The delivery of this critical financial infrastructure requires a single, unified solution provided by a prime contractor to ensure system integrity, data security, and seamless integration with existing IBOR and custodial functions. Given the technical complexity and the Authority's fiduciary duty to its members, it is anticipated that the core services will be delivered directly by the software provider and are not suitable for sub-contracting to third parties The Contracting Authority does not intend to include any community benefit requirements in this contract for the following reason: Lothian Pension Fund waived this requirement as an entity. (SC Ref:826734) Download the copy of the online SPD document here (to be completed online through postbox submission): https://www.publiccontractsscotland.gov.uk/ESPD/ESPD_Download.aspx?id=826734",
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