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Services - 91135-2016

18/03/2016    S55    European Commission - Services - Contract notice - Open procedure 

Belgium-Brussels: Drivers of corporate bond market liquidity

2016/S 055-091135

Contract notice

Services

Legal Basis:

Directive 2014/24/EU

Section I: Contracting authority

I.1)Name and addresses
Official name: European Commission, Directorate-General for Financial Stability, Financial Services and Capital Markets Union
Postal address: SPA2, 01/40
Town: Brussels
NUTS code: BE100
Postal code: 1049
Country: Belgium
E-mail: ec-fisma-contracts@ec.europa.eu

Internet address(es):

Main address: http://ec.europa.eu/dgs/finance/index_en.htm

I.2)Information about joint procurement
I.3)Communication
The procurement documents are available for unrestricted and full direct access, free of charge, at: https://etendering.ted.europa.eu/cft/cft-display.html?cftId=1379
Additional information can be obtained from the abovementioned address
Tenders or requests to participate must be submitted to the abovementioned address
I.4)Type of the contracting authority
European institution/agency or international organisation
I.5)Main activity
General public services

Section II: Object

II.1)Scope of the procurement
II.1.1)Title:

Drivers of corporate bond market liquidity.

Reference number: FISMA/2015/146(01)/C.
II.1.2)Main CPV code
73200000
II.1.3)Type of contract
Services
II.1.4)Short description:

The purpose of the contract is to gather new information on the drivers of market liquidity in European corporate bond markets. The contractor must provide new qualitative and quantitative empirical analysis on the significance of certain characteristics (e.g. the extent of electronic trading and standardisation, relative importance of pre-trade transparency obligations, investor types) as drivers of market liquidity in EU corporate bond markets.

II.1.5)Estimated total value
Value excluding VAT: 400 000.00 EUR
II.1.6)Information about lots
This contract is divided into lots: no
II.2)Description
II.2.1)Title:
II.2.2)Additional CPV code(s)
79300000
79310000
79311400
79330000
II.2.3)Place of performance
NUTS code: 00
Main site or place of performance:

The tasks are to be performed at the premises designated by the contractor. A maximum of 4 coordination meetings with the contracting authority will be held in Brussels.

II.2.4)Description of the procurement:

The following tasks will be carried out:

— literature review,

— data collection,

— creation of sample sets,

— empirical analysis on the drivers of market liquidity in EU corporate bond markets,

— empirical analysis to identify the different levels of market liquidity between corporate bonds which are traded electronically and those only traded over the counter,

— sensitivity analysis of the credit spreads of EU corporate bonds to changes in dealer inventories.

The tender shall be rejected as irregular if it does not comply with the applicable environmental, social and labour law obligations established by Union law, national legislation, collective agreements or the applicable international social and environmental conventions listed in Annex X to Directive 2014/24/EU of the European Parliament and of the Council. The analysis must be conducted on at least corporate bond markets in the European Union and must be able to provide new data and evidence that cannot be found elsewhere.

The overall analysis should cover all 28 Member States. Where resource or data constraints require it, deeper analysis can be restricted to specific market segments, or Member States, if it is not possible to conduct analysis for all 28 Member States in every case. The analysis could also look at countries outside the EU if they provide useful case studies (e.g. looking at the importance of transparency rules in third countries). A clear distinction should be made between financial and non-financial corporate bonds.

II.2.5)Award criteria
Criteria below
Quality criterion - Name: Relevance of proposed methodology for analysing the drivers of corporate bond market liquidity / Weighting: 45
Quality criterion - Name: Quality of data generated or used / Weighting: 35
Quality criterion - Name: Organisation of the work / Weighting: 10
Quality criterion - Name: Quality control measures / Weighting: 10
Price - Weighting: 30
II.2.6)Estimated value
Value excluding VAT: 400 000.00 EUR
II.2.7)Duration of the contract, framework agreement or dynamic purchasing system
Duration in months: 10
This contract is subject to renewal: no
II.2.10)Information about variants
Variants will be accepted: no
II.2.11)Information about options
Options: no
II.2.12)Information about electronic catalogues
II.2.13)Information about European Union funds
The procurement is related to a project and/or programme financed by European Union funds: no
II.2.14)Additional information

Section III: Legal, economic, financial and technical information

III.1)Conditions for participation
III.1.1)Suitability to pursue the professional activity, including requirements relating to enrolment on professional or trade registers
List and brief description of conditions:

See tender specifications.

III.1.2)Economic and financial standing
Selection criteria as stated in the procurement documents
III.1.3)Technical and professional ability
Selection criteria as stated in the procurement documents
III.1.5)Information about reserved contracts
III.2)Conditions related to the contract
III.2.1)Information about a particular profession
III.2.2)Contract performance conditions:

See tender specifications and draft service contract.

III.2.3)Information about staff responsible for the performance of the contract
Obligation to indicate the names and professional qualifications of the staff assigned to performing the contract

Section IV: Procedure

IV.1)Description
IV.1.1)Type of procedure
Open procedure
IV.1.3)Information about a framework agreement or a dynamic purchasing system
IV.1.4)Information about reduction of the number of solutions or tenders during negotiation or dialogue
IV.1.6)Information about electronic auction
IV.1.8)Information about the Government Procurement Agreement (GPA)
The procurement is covered by the Government Procurement Agreement: yes
IV.2)Administrative information
IV.2.1)Previous publication concerning this procedure
IV.2.2)Time limit for receipt of tenders or requests to participate
Date: 29/04/2016
IV.2.3)Estimated date of dispatch of invitations to tender or to participate to selected candidates
IV.2.4)Languages in which tenders or requests to participate may be submitted:
English, Bulgarian, Danish, German, Greek, Estonian, Finnish, French, Irish, Croatian, Hungarian, Italian, Latvian, Lithuanian, Maltese, Dutch, Polish, Portuguese, Romanian, Slovak, Slovenian, Spanish, Swedish, Czech
IV.2.6)Minimum time frame during which the tenderer must maintain the tender
Duration in months: 9 (from the date stated for receipt of tender)
IV.2.7)Conditions for opening of tenders
Date: 10/05/2016
Local time: 14:00
Place:

Meeting room 01/A030, rue de Spa 2, 1000 Brussels, BELGIUM.

Information about authorised persons and opening procedure:

A maximum of 2 representatives per tender can attend the opening of tenders. For organisational and security reasons, the tenderer must provide the full name and ID or passport number of the representatives at least 3 working days in advance to: EC-FISMA-CONTRACTS@ec.europa.eu

Failing that, the contracting authority reserves the right to refuse access to its premises.

Section VI: Complementary information

VI.1)Information about recurrence
This is a recurrent procurement: no
VI.2)Information about electronic workflows
VI.3)Additional information:
VI.4)Procedures for review
VI.4.1)Review body
Official name: General Court of the Court of Justice of the European Union
Postal address: rue du Fort Niedergrünewald
Town: Luxembourg
Postal code: 2925
Country: Luxembourg
E-mail: generalcourt.registry@curia.europa.eu
Telephone: +352 4303-1
Fax: +352 4303-2100

Internet address: http://curia.europa.eu/

VI.4.2)Body responsible for mediation procedures
VI.4.3)Review procedure
VI.4.4)Service from which information about the review procedure may be obtained
VI.5)Date of dispatch of this notice:
08/03/2016