CPT_26_25 Market Data Software Subscription

Description

At the NAO, we have a business need to access reliable market and financial information to inform our financial audit and value for money audit work. Around 50 financial audit teams across the office accessed these services in the 2025-26 cycle. This is a business-critical need, used in providing independent evidence to support key assumptions in asset and liability valuations and historical pricing. Our value for money audit work also requires access to high-quality market, corporate, financial, geopolitical and sector intelligence that is not readily available through standard internet searches or publicly available government sources. We require the provision of a product that provides quick and efficient access to asset and liability prices as well as economic and market data. The minimum requirements for this service are as follows: • A software product capable of meeting International Standard on Auditing (ISA) 500 requirements that provides quick and efficient access to asset and liability prices, such as bonds, equities and fund investments in both a real-time and historic basis, and the ability to price derivative instruments such as interest rate swaps. • The software must also provide economic and market data such as current and past FX rates, access to financial indexes, basic company financial and performance metrics, sovereign and corporate credit ratings, macroeconomic data and forecasts (such as GDP). • We require flexibility to retrieve data for a variety of dates and timepoints and in different formats for larger vs smaller volume requirements. The volume of data we require varies from day to day and the software should be able to accommodate changes in the volume of requests without compromising service or performance, as well as high-volume requests. • Unlimited access to a dedicated helpdesk to help resolve routine queries over functionality and performance, as well as more complex aspects of the software. In addition, access to an account manager is required, who can efficiently resolve any issues with the software. • Regular training, as well as the opportunity to occasionally engage in 'deep dives' i.e. more detailed questions surrounding methodology (such as valuations for particular financial instruments or datasets). Both of these benefits are required at no extra cost above the core subscription. • The software itself must be available for use year-round and for 24hrs a day. Any supplier IT/service outages must be resolved promptly and as a priority. • Ability to retain retrieved data on our audit files in accordance with statutory requirements is essential. The provider must permit the unrestricted retention and storage of market data and supporting evidence on NAO audit files, ensuring compliance with audit methodology and quality requirements.