Results of the procurement procedure
Legal Basis:
Directive 2014/24/EU
Section I: Contracting authority
I.1)Name and addressesOfficial name: European Commission, Directorate-General for Financial Stability, Financial Services and Capital Markets Union
Postal address: SPA2, 07/020
Town: Brussels
NUTS code:
BE100 Arr. de Bruxelles-Capitale / Arr. van Brussel-HoofdstadPostal code: 1049
Country: Belgium
E-mail:
ec-fisma-contracts@ec.europa.euInternet address(es): Main address:
http://ec.europa.eu/dgs/finance/index_en.htm I.4)Type of the contracting authorityEuropean institution/agency or international organisation
I.5)Main activityGeneral 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 code73200000 Research and development consultancy services
II.1.3)Type of contractServices
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.1.6)Information about lotsThis contract is divided into lots: no
II.1.7)Total value of the procurement (excluding VAT)Value excluding VAT: 299 550.00 EUR
II.2)Description
II.2.2)Additional CPV code(s)79300000 Market and economic research; polling and statistics
79310000 Market research services
79311400 Economic research services
79330000 Statistical services
II.2.3)Place of performanceNUTS code: 00 Not specified
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 bonds 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 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.
II.2.5)Award criteriaQuality 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.2.11)Information about optionsOptions: no
II.2.13)Information about European Union fundsThe procurement is related to a project and/or programme financed by European Union funds: no
II.2.14)Additional information
Section IV: Procedure
IV.1)Description
IV.1.1)Type of procedureOpen procedure
IV.1.3)Information about a framework agreement or a dynamic purchasing system
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.2.8)Information about termination of dynamic purchasing system
IV.2.9)Information about termination of call for competition in the form of a prior information notice
Section V: Award of contract
Contract No: FISMA/2015/146(01)/C1/ST/OP
Title:
Drivers of corporate bond market liquidity
A contract/lot is awarded: yes
V.2)Award of contract
V.2.1)Date of conclusion of the contract:06/07/2016
V.2.2)Information about tendersNumber of tenders received: 4
Number of tenders received from SMEs: 1
Number of tenders received from tenderers from other EU Member States: 4
Number of tenders received from tenderers from non-EU Member States: 0
The contract has been awarded to a group of economic operators: no
V.2.3)Name and address of the contractorOfficial name: Risk Control Limited
National registration number: 04036954
Postal address: 22 Romilly Street
Town: London
NUTS code: UK UNITED KINGDOM
Country: United Kingdom
The contractor is an SME: yes
V.2.4)Information on value of the contract/lot (excluding VAT)Initial estimated total value of the contract/lot: 400 000.00 EUR
Total value of the contract/lot: 299 550.00 EUR
V.2.5)Information about subcontracting
Section VI: Complementary information
VI.3)Additional information:
VI.4)Procedures for review
VI.4.3)Review procedurePrecise information on deadline(s) for review procedures:
Within 2 months of the notification to the plaintiff, or, in the absence thereof, of the day on which it came to the knowledge. A complaint to the European Ombudsman does not have as an effect either to suspend or to open a new period for lodging appeals.
VI.5)Date of dispatch of this notice:12/07/2016