---
title: "Custody and Investment Operations Outsourcing Services"
ocid: "ocds-h6vhtk-02b9bc"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-h6vhtk-02b9bc"
markdown_url: "https://d3tenders.com/contract/ocds-h6vhtk-02b9bc.md"
json_url: "https://d3tenders.com/contract/ocds-h6vhtk-02b9bc.json"
source: "Find A Tender Service"
current_stage: "Award"
buyer: "PENSION PROTECTION FUND"
published: "2021-12-15"
---

# Custody and Investment Operations Outsourcing Services

Buyer: PENSION PROTECTION FUND  
Current stage: Award  
OCID: ocds-h6vhtk-02b9bc

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## Summary

The Pension Protection Fund is conducting a procurement process for Custody and Investment Operations Outsourcing Services, classified under custody services. The tender, which is currently in the active stage following its initiation, has a total estimated value of £53 million. The contract is expected to last for an initial period of up to 5 years, with possible extensions totalling a maximum of 10 years. Interested suppliers should note that submissions for this procurement must be made electronically by 10 August 2021, with additional insights available through the fund’s eSourcing portal.

This procurement presents significant growth opportunities for businesses in the financial services sector, particularly those specialising in custody services, fund accounting, and transfer agency services. Companies adept at delivering complex operational services, with a capability for connectivity to third-party systems, will be well-positioned to compete. Potential bidders should focus on demonstrating quality service delivery, performance regimes, and competitive pricing to capture this lucrative contract.

## Notice

Custody and Investment Operations Outsourcing (IOO) Services. Custodian Services also include Fund accounting and transfer agency services (unitisation). We may also appoint a second/reserve Custodian to manage some of the PPF's assets, the exact amount is to be confirmed.

### Lot Information

Lot 1

Custody and Investment Operations Outsourcing (IOO) Services. Custodian Services also include Fund accounting and transfer agency services (unitisation). We may also look to appoint a second/reserve Custodian to manage some of the PPF's assets, the exact amount is to be confirmed. The stated value is a current estimate. Our estimated range is between PS9m to PS53m as we are aware that the actual value could vary significantly according to a number of potential factors over the life of the contract. Additional information: Total contract length stated is based on the maximum possible contract term of 10 years. The initial contract term for Custody is 5 years and IOO 3 years. The minimum contract value and maximum contract values are based on the initial contract term and maximum contract term to be spread across the primary and reserve/secondary custodian exact split is unknown at this stage.

Renewal: A single Service Provider to deliver the Custody and IOO Services. However, two contracts: Custody - will be for 5 years with optional extensions to take full term to 10 years. Fund accounting and Transfer agency services as required for initial term of 12 months with option to extend to max term. IOO - contract will be for an initial 3 years with optional extensions to take full term to 10 years

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Find A Tender Service |
| Latest notice | https://www.find-tender.service.gov.uk/Notice/031337-2021 |
| Notice type | Planning Notice |
| Procurement type | Standard |
| Procurement category | Services |
| Procurement method | Selective |
| Procurement method details | Competitive procedure with negotiation |
| Tender suitability | Not specified |
| Awardee scale | Large |
| All stages | Planning, Tender, Award |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 15 Dec 2021 |
| Submission deadline | 10 Aug 2021 |
| Future notice date | 4 Jul 2021 |
| Award date | 14 Dec 2021 |
| Contract period | Not specified |
| Recurrence | Not specified |

## Values

| Field | Value |
| --- | --- |
| Tender value | £53,000,000 |
| Lots value | Not specified |
| Awards value | Not specified |
| Contracts value | £53,000,000 |

## Status

| Field | Value |
| --- | --- |
| Tender status | Complete |
| Lots status | Cancelled |
| Awards status | Active |
| Contracts status | Active |

## Buyer

| Field | Value |
| --- | --- |
| Main buyer | PENSION PROTECTION FUND |
| Locality | CROYDON |
| Post town | Croydon |
| Postcode | CR0 2NA |
| Country | England |
| ITL 1 | TLI London |
| ITL 2 | TLI6 Outer London - South |
| ITL 3 | TLI62 Croydon |
| Local authority | Croydon |
| Electoral ward | Fairfield |
| Westminster constituency | Croydon West |
| Delivery location | TLI62 Croydon |

## Supplier

| Field | Value |
| --- | --- |
| Number of suppliers | 2 |
| Supplier names | JPMORGAN CHASE BANK; THE NORTHERN TRUST |

## CPV Codes

### Divisions

- 66 - Financial and insurance services

### Codes

- 66151000 - Financial market operational services
- 66162000 - Custody services
- 66172000 - Financial transaction processing and clearing-house services

## Release History

- 15 Dec 2021 at 22:45 - Award - Award Notice - https://www.find-tender.service.gov.uk/Notice/031337-2021
- 12 Jul 2021 at 21:45 - Tender - Tender Notice - https://www.find-tender.service.gov.uk/Notice/016277-2021
- 8 Jun 2021 at 21:45 - Planning - Planning Notice - https://www.find-tender.service.gov.uk/Notice/012875-2021

## Notice URLs

- https://ppf.bravosolution.co.uk/

## Provenance

This Markdown file is an alternate public rendering of the D3 Tenders contract record. The canonical page is https://d3tenders.com/contract/?ocid=ocds-h6vhtk-02b9bc. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-h6vhtk-02b9bc.json.