Number: 2729866
Country: Denmark
Source: TED
Contract for delivery and maintenance of an IT system for market surveillance.
Finanstilsynet (DFSA) intends to obtain a market surveillance and analysis IT-system for surveying securities markets, which will enable DFSA to meet its obligations regarding market surveillance under EU legislation (the System). The System must accommodate large amounts of data, in different types and from different sources and must be scalable, user-friendly, able to detect and support investigation into market abuse and set up alarms based on patterns in the data.
Background and Purpose
The purpose of this procurement is to obtain a market surveillance and analysis IT-system for surveying securities markets. The main purpose of the System is to ensure the processing of large amounts of trade data and to increase the efficiency in detecting and investigating potential market abuse.
Today, the DFSA operates TRACEII, a surveillance system developed in 2007. At present, the DFSA receives 8 000 000 - 12 000 000 TRS reports and 40 000 000 - 60 000 000 order book events such as bids, offers and trades per month.
The DFSA intends to obtain a standard system, which is able to handle an increasing amount of data, and meet the new requirements to TRS and order book data under MiFID II/MiFIR from 3.1.2018.
Additionally, the System could be used for the following purposes:
— surveying the potential risks of investment firms,
— detecting market trends,
— surveying instruments, clients, brokers and their market shares in the instruments where DFSA is the competent authority.
Main services
This procurement includes the following main services:
A: Delivery
The supplier shall deliver a market surveillance and analysis IT-system for surveying securities markets, which will enable DFSA to meet its obligations regarding market surveillance under EU legislation. The Supplier shall make sure that the System is configured to support the DFSA"s business needs. The System shall be a well-established, tried and tested standard software system for securities market surveillance purposes similar to the use intended by the DFSA.
Goals for the System:
o The daily use of the System should be efficient, and be able to handle multiple simultaneous users.
o The System must be scalable in order to handle future requirements regarding increasing amounts of data received from external data sources, without any impact on the performance of the System.
o All the required source data are imported and can be combined in various ways for the investigation of market abuse.
o The System supports alerts on suspicious trading.
o The System supports editing of alert parameters manually by the users.
o The System supports the DFSA"s compliance with new regulation MiFID II/MiFIR when it takes effect on 3.1.2018.
B: Implementation of the Source Data integrations
The System will be part of a system landscape and will have integrations to other IT-systems. The supplier must make sure that the following internal and external Source Data are integrated with the System:
1. Transaction reporting data from the DFSAs Transaction reporting system (TRS 2).
2. Company news announcement from the DFSA"s system for company news announcements (OASM).
3. Order book data from Nasdaq Copenhagen.
4. Order book data from other market places. The System should support ad hoc manual import of order book data from other trading venues e.g. BATS Chi-X.
C: Configuration and development services after implementation (Separate Tasks).
The Supplier shall deliver configuration and development services after implementation. The supplier shall provide advice to the DFSA with regards to new configuration and development, including new integrations, configuration needed to comply with new legislation and development of new alarms needed by the DFSA.
D: Support and maintenance
The supplier shall deliver support and maintenance services, which include preventive maintenance, implementation of new releases and versions, correction of faults, education of users of the System and providing a help desk, which shall deliver technical support in respect of the System.
E: Consulting
The supplier shall provide consultancy services throughout the contract period. Consultancy services shall be provided at the DFSA"s request.
Finanstilsynet (DFSA) wants the possibility to have historical data migrated from the DSFA"s current system to the new system. Such data will consist of Nasdaq order book data and company announcements for a time period starting 1.1.2017 to the day when the System is deployed.
The total value of the procurement/contract stated in part II.1.7 above and part V.2.4 below is based on the total evaluation technical price.
Contract for delivery and maintenance of an IT system for market surveillance
Pursuant to the Danish Act on the Complaints Board for Public Procurement, etc. (lov om Klagenævnet for Udbud m.v.) (the Act is available (in Danish) at www.retsinformation.dk), the following deadlines apply to the lodging of complaints:
Complaints for not having been selected must be submitted to the Danish Complaints Board for Public Procurement before the expiry of 20 calendar days, see section 7(1) of the Act, from the day after submission of notification to the candidates concerned of the identity of the successful tenderer where the notification is accompanied by an explanation of the grounds for the decision in accordance with section 2(1)(i) of the Act and section 171(2) of the Danish Public Procurement Act.
In other situations, complaints of award procedures, see section 7(2) of the Act, must be lodged with the Danish Complaints Board for Public Procurement before the expiry of:
1) 45 calendar days after the contracting authority has published a notice in the Official Journal of the European Union that the contracting authority has entered into a contract. The deadline is calculated from the day after the day when the notice was published.
2) 30 calendar days calculated from the day after the day when the contracting authority has notified the candidates concerned that a contract based on a framework agreement with reopening of competition or a dynamic purchasing system has been entered into where the notification has included an explanation of the relevant grounds for the decision.
3) 6 months after the contracting authority entered into a framework agreement calculated from the day after the day when the contracting authority notified the candidates and tenderers concerned, see section 2(2) of the Act and section 171(4) of the Danish Public Procurement Act.
4) 20 calendar days calculated from the day after the contracting authority has submitted notification of its decision, see section 185(2) of the Danish Public Procurement Act.
Not later than at the time of lodging a complaint with the Danish Complaints Board for Public Procurement, the complainant must notify the contracting authority in writing that a complaint has been lodged with the Danish Complaints Board for Public Procurement and whether the appeal was lodged during the standstill period, see section 6(4) of the Act. In cases where the complaint was not lodged during the standstill period, the complainant must furthermore indicate whether a suspensory effect of the complaint has been requested, see clause 12(1) of the Act.
The e-mail address of the Complaints Board for Public Procurement is set out in section VI.4.1).
The Complaints Board"s own complaints procedure is available at www. erhvervsstyrelsen.dk
