Awarded contract

Futures Clearing Broker Services

Details

Supplier(s)
HSBC Bank Plc
Value
500,000
Duration
5 years
Topic
Financial consultancy, financial transaction processing and clearing-house services
Published
3 July 2026

Tender description

Border to Coast Pensions Partnership Limited ("Border to Coast") is an FCA regulated investment manager based in Leeds, UK managing assets on behalf of 18 Local Government Pension Scheme ("LGPS") pension funds (as of 1 April 2026). Border to Coast has investment propositions across a range of asset classes including equities, fixed income, private markets and real estate. There is a mix of internal (direct) and external (via third party managers) management across these propositions. Assets under management are currently ~£53bn and are expected to grow to ~£115bn over the next 2 - 3 years. In addition, Border to Coast is developing a series of investment capabilities to provide advisory, asset allocation and implementation services to Partner Funds. Border to Coast currently uses Bloomberg for its Order Management / Portfolio Management system ("OMS / PMS") but will be migrating to BlackRock Aladdin towards the end of 2026. Third Party Administrator ("TPA") services, including brokerage, custody and fund accounting, are provided by Northern Trust. Border to Coast wishes to procure a Futures Clearing Broker to support the implementation of its futures capability. The provider's operating model needs to be able to fully integrate with our OMS / PMS (both current and future state) and our TPA. ## Contract award Title: Futures Clearing Broker Services

Timeline

  1. Completed: Award date30 June 2026
  2. Completed: Award published3 July 2026
    Current notice
  3. Next: Contract expiry date1 September 2031in 5 years

About the buyer

Border to Coast Pensions Partnership is a local government pension asset manager based in Leeds. The Local Government Pension Scheme funds that set it up own it as equal shareholders. A dedicated procurement team carries out due diligence on suppliers. Some tenders use a competitive flexible procedure in two stages. Soft market testing with suppliers comes before some tenders. Bidders must show their policies on diversity, environmental impact and modern slavery.

Over the past 5 years, most of Border to Coast Pensions Partnership Limited's contract awards have been in software and information systems, financial and insurance services and IT services.

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