CFTC Sole Source - Loan Data
The Commodity Futures Trading Commission ("CFTC") intends to negotiate/award a sole-source contract for the procurement of two user licenses for the Refinitiv LoanConnector (LC), Loan Pricing Corporation (LPC) Collateral, and Business Development Corporation (BDC) Collateral products to support research projects.
The Government intends to procure this requirement pursuant to the exception under FAR 6.302-1 - "Only One Responsible Source and No Other Supplies or Services Will Satisfy Agency Requirements."
As a Financial Stability Oversight Council (FSOC) member, CFTC is responsible for systemic risk monitoring. In order to fulfill its mission, CFTC needs to identify and analyze the relationship between the global syndicated loan market and the derivatives markets. In order to support these regulatory functions, the CFTC requires both primary and secondary global syndicated loan market data. CFTC also requires the loan data to support rule making and to examine swaps in connection with bank lending to customers.
After conducting market research, CFTC has determined that only Refinitiv meets the following CFTC data requirements:
Loan Level Data Requirements
• The vendor product shall provide loan data covering the complete syndicated loan market to include the leveraged loan data.
• The vendor product shall provide current borrower ratings on individual loans as well as ratings at close where available.
• The vendor product shall provide secondary market information at the loan level including bid, ask and spread. The vendor product shall specify broker/dealer who contributed to the secondary market price wherever applicable.
Collateralized Loan Obligation (CLO) Data Requirements
• The vendor product shall provide the various tranches underlying the CLO. It shall provide the information on the holders of tranches wherever applicable.
• The vendor product shall provide pricing information on the CLO including average bid, average ask, high bid and low bid.
• The vendor product shall provide underlying collateral at the loan level for each CLO tranche. Functionality is required to navigate from the CLO level information to the underlying loan level detail.
Product Graphical User Interface (GUI) Requirements
• The user interface shall feature robust search functions to search across all loans using multiple filtering combinations.
THIS NOTICE IS NOT A REQUEST FOR COMPETITIVE PROPOSALS nor a solicitation of offers. However, the Government will consider written responses from all responsible sources received by 5:00pm EDT, July 26 2019. Written responses must include sufficient information to establish capability to fulfill the requirement. Oral communications are not acceptable in response to this notice. A determination by the government not to compete this proposed requirement is solely within the discretion of the Government. Information received will be considered solely for the purposes for future Market Research requirements. No formal solicitation package is available. The Government anticipates award on or about August 15, 2019. The Government will not be responsible for any costs of preparation in response to this announcement.
Benjamin Van Wormer, Contracting Officer, Phone 2024185498, Email bvanwormer@cftc.gov - Susan Hong, Contracting Officer, Phone 2024185562, Email shong@cftc.gov
