Market Data Processing System

Description

This Notice does not relate to the award of a new Contract but to a modification to an existing contract in accordance with Regulation 72(1)(b) of the Public Contracts Regulations 2015. The Contract modification addressed by this Notice is for the provision of the Market Data Processing System originally awarded in OJEU under reference 2016/S 059-100118 Lot 1: Markets Data Processor (MDP) is an externally managed platform that collects MiFID II / MAR data from Market Participants, validates the data, supports data management. The data is used at the FCA to supervise financial markets, primarily for the detection of market abuse, market manipulation and breeches of commodity derivatives position limits. Following a Request for Information (RFI) process, advertised through The UK Find a Tender Service under reference 2022/S 000-008070, it has been determined to enable a future procurement, which is both fair and transparent a modification to the existing platform is required. This modification is to simplify the solution, refreshing legacy system components to ensure business continuity while a future procurement is undertaken. Allowing sufficient time for process and transition to take place without business interruption. The FCA has taken the decision, subject to Regulation 72(1)(b) to modify the existing end date of the contract from the 14th April 2023 to the 14th April 2026, this includes the year 8 option, which would have run from 15th April 2023 to the 14th April 2024 and as such this modification is for an additional 2 (two) years based maximum term of the Contract. The value of the modification is £10,750,000 ex VAT. The original Award value of the Market Data Processing Solution was £23,500,000 ex VAT and published in OJEU under reference 2016/S 059-100118. The new end date reflects the time and the technical work required to update, simplify the solution and document the new architecture in readiness for the future procurement. Additional information: This Notice does not relate to the award of a new Contract but to a modification to an existing contract in accordance with Regulation 72(1)(b) of the Public Contracts Regulations 2015. The Contract modification addressed by this Notice is for the provision of the Market Data Processing System originally awarded in OJEU under reference 2016/S 059-100118