---
title: "Investment Front Office Software System"
ocid: "ocds-r6ebe6-0000511162"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-r6ebe6-0000511162"
markdown_url: "https://d3tenders.com/contract/ocds-r6ebe6-0000511162.md"
json_url: "https://d3tenders.com/contract/ocds-r6ebe6-0000511162.json"
source: "Public Contracts Scotland"
current_stage: "Award"
buyer: "THE CITY OF EDINBURGH COUNCIL"
published: "2017-10-11"
---

# Investment Front Office Software System

Buyer: THE CITY OF EDINBURGH COUNCIL  
Current stage: Award  
OCID: ocds-r6ebe6-0000511162

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## Summary

The City of Edinburgh Council is seeking proposals for an "Investment Front Office Software System" aimed at enhancing the operational efficiency of the Lothian Pension Fund, which manages approximately GBP 7 billion in assets for over 80,000 members. The procurement process is currently at the active tender stage, with submissions accepted until 10th October 2017 at 12:00 PM, after which bids will be opened at 12:30 PM the same day. This project falls under the services category and is located in Edinburgh, Scotland, utilising an open procurement method that allows for a wide range of suppliers to participate.

This tender presents a significant opportunity for software development and IT service companies specializing in investment management solutions, particularly those familiar with regulatory compliance requirements set by the Financial Conduct Authority. Businesses that can demonstrate expertise in creating comprehensive trading and portfolio management tools, as well as those equipped to integrate electronic systems into existing manual processes, are well-suited to compete for this contract. The potential for collaboration with other local government pension schemes also enhances the attractiveness of this procurement for prospective bidders.

## Notice

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).

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Public Contracts Scotland |
| Latest notice | https://www.publiccontractsscotland.gov.uk/search/show/search_view.aspx?ID=OCT298182 |
| 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 | Not specified |
| All stages | Tender, Award |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 11 Oct 2017 |
| Submission deadline | 10 Oct 2017 |
| Future notice date | Not specified |
| Award date | 11 Oct 2017 |
| Contract period | Not specified |
| Recurrence | Not specified |

## Values

| Field | Value |
| --- | --- |
| Tender value | Not specified |
| Lots value | Not specified |
| Awards value | Not specified |
| Contracts value | Not specified |

## Status

| Field | Value |
| --- | --- |
| Tender status | Unsuccessful |
| Lots status | Unsuccessful |
| Awards status | Unsuccessful |
| Contracts status | Not specified |

## Buyer

| Field | Value |
| --- | --- |
| Main buyer | THE CITY OF EDINBURGH COUNCIL |
| Locality | EDINBURGH |
| Post town | Edinburgh |
| Postcode | EH8 8BG |
| Country | Scotland |
| ITL 1 | TLM Scotland |
| ITL 2 | TLM1 East Central Scotland |
| ITL 3 | TLM13 City of Edinburgh |
| Local authority | City of Edinburgh |
| Electoral ward | City Centre |
| Westminster constituency | Edinburgh East and Musselburgh |
| Delivery location | TLM75 City of Edinburgh |

## CPV Codes

### Divisions

- 48 - Software package and information systems

### Codes

- 48100000 - Industry specific software package
- 48411000 - Investment management software package
- 48441000 - Financial analysis software package
- 48442000 - Financial systems software package

## Release History

- 11 Oct 2017 at 00:00 - Award - OJEU - F3 - Contract Award Notice - https://www.publiccontractsscotland.gov.uk/search/show/search_view.aspx?ID=OCT298182
- 8 Sep 2017 at 00:00 - Tender - OJEU - F2 - Contract Notice - https://www.publiccontractsscotland.gov.uk/search/show/search_view.aspx?ID=SEP294988

## Documents

- https://www.publiccontractsscotland.gov.uk/NoticeDownload/DownloadDocument.aspx?id=SEP294988&idx=7
  20th September 2017 - Document outlining current processes used by LPF
- https://www.publiccontractsscotland.gov.uk/NoticeDownload/DownloadDocument.aspx?id=SEP294988&idx=1
  11th September 2017 - Specification Document
- https://www.publiccontractsscotland.gov.uk/NoticeDownload/DownloadDocument.aspx?id=SEP294988&idx=2
  11th September 2017 - Instructions to Tenderers
- https://www.publiccontractsscotland.gov.uk/NoticeDownload/DownloadDocument.aspx?id=SEP294988&idx=3
  11th September 2017 - Terms and Conditions
- https://www.publiccontractsscotland.gov.uk/NoticeDownload/DownloadDocument.aspx?id=SEP294988&idx=4
  11th September 2017 - Tenderers Submission Document
- https://www.publiccontractsscotland.gov.uk/NoticeDownload/DownloadDocument.aspx?id=SEP294988&idx=5
  11th September 2017 - Pricing Schedule
- https://www.publiccontractsscotland.gov.uk/NoticeDownload/DownloadDocument.aspx?id=SEP294988&idx=6
  11th September 2017 - ESPD Document
- https://www.publiccontractsscotland.gov.uk/search/show/search_view.aspx?ID=SEP294988
  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=OCT298182
  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

- http://
- http://www.edinburgh.gov.uk
- https://api.publiccontractsscotland.gov.uk/v1/Notice?id=ocds-r6ebe6-0000511162
- https://in-tendhost.co.uk/cityofedinburghcouncil/aspx/Home
- https://www.publiccontractsscotland.gov.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-r6ebe6-0000511162. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-r6ebe6-0000511162.json.