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Services - 278268-2018

29/06/2018    S123

Belgium-Brussels: Study on the impact of MiFID II rules on SME and Fixed Income Investment Research

2018/S 123-278268

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 07/029
Town: Brussels
NUTS code: BE100 Arr. de Bruxelles-Capitale / Arr. van Brussel-Hoofdstad
Postal code: 1049
Country: Belgium
E-mail: EC-FISMA-CONTRACTS@ec.europa.eu
Internet address(es):
Main address: https://ec.europa.eu/info/departments/financial-stability-financial-services-and-capital-markets-union_en
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=3786
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:

Study on the impact of MiFID II rules on SME and Fixed Income Investment Research

Reference number: FISMA/2017/117(06)/C
II.1.2)Main CPV code
79311400 Economic research services
II.1.3)Type of contract
Services
II.1.4)Short description:

The study should carefully examine the effects of MiFID II research payment rules on SME research and fixed-income investment research, and in particular their impact on the amount and quality of research.

II.1.5)Estimated total value
Value excluding VAT: 360 000.00 EUR
II.1.6)Information about lots
This contract is divided into lots: no
II.2)Description
II.2.2)Additional CPV code(s)
79300000 Market and economic research; polling and statistics
79310000 Market research services
79311410 Economic impact assessment
79330000 Statistical services
79140000 Legal advisory and information services
II.2.3)Place of performance
NUTS 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 3 co-ordination meetings with the Contracting Authority will be held in Brussels. See procurement documents.

II.2.4)Description of the procurement:

The study will cover four different aspects. First, it will describe the landscape of investment research for SMEs and fixed-income financial instruments in terms of actors (number of investment research providers, notably) in at least 12 Member States, as well as the regulatory landscape (and especially how the Member States have implemented the new MiFID II research payment provisions). Second, it will assess the impact of the new rules on portfolio managers (buy-side), in particular in terms of budget allocated to SME and fixed-income investment research, payment methods and the use of SME and fixed-income research by those portfolio managers. Third, the study will also assess the impact of MiFID II on the supply of SME and fixed-income research (sell-side). The contractor is required to look at the evolution of SME and fixed-income research coverage (before and after the entry into MiFID II) and at the changes in quality of investment research. Fourth, the study will also examine the effects of MiFID II research payment rules on the visibility of SMEs towards investors and the liquidity of SMEs' financial instruments.

II.2.5)Award criteria
Criteria below
Quality criterion - Name: Relevance and breadth of the geographical coverage / Weighting: 20
Quality criterion - Name: Quality and relevance of the proposed methodology / Weighting: 60
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: 360 000.00 EUR
II.2.7)Duration of the contract, framework agreement or dynamic purchasing system
Duration in months: 9
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.2.13)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

See procurement documents.

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 procurement documents.

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.2)Conditions related to the contract
III.2.2)Contract performance conditions:

See procurement documents.

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.1.8)Information about the Government Procurement Agreement (GPA)
The procurement is covered by the Government Procurement Agreement: yes
IV.2)Administrative information
IV.2.2)Time limit for receipt of tenders or requests to participate
Date: 11/09/2018
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:
Bulgarian, Czech, Danish, German, Greek, English, Spanish, Estonian, Finnish, French, Irish, Croatian, Hungarian, Italian, Lithuanian, Latvian, Maltese, Dutch, Polish, Portuguese, Romanian, Slovak, Slovenian, Swedish
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: 18/09/2018
Local time: 14:00
Place:

Tenders will be opened in public session on 18.9.2018 at 14:00 — Meeting room 06/A030 – rue de Spa, no 2 – B-1000 Bruxelles.

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.3)Additional information:

See procurement documents.

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 Luxembourg
Country: Luxembourg
E-mail: generalcourt.registry@curia.europa.eu
Telephone: +352 4303-1
Fax: +352 4303-2100
Internet address: http://curia.europa.eu/
VI.4.3)Review procedure
Precise 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 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:
22/06/2018