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Find a TenderAwarded without competitionContract details notice
Published 17 Sept 2025, 09:48 BST

Official UK procurement notice

Securities & Collateral Management Settlement System Support and Maintenance Contract

Official notice

Authority: BANK OF ENGLAND

Direct awardSME suitable
Sectors: IT Services & Software (72) Delivery: North East (UKC)North West (UKD)Yorkshire & Humber (UKE)
+6 moreEast Midlands (UKF)West Midlands (UKG)East of England (UKH)London (UKI)South East (UKJ)South West (UKK)
Awarded value£8,000,000published award · exc. VAT
Awarded 10 Sept 2025no call for competition
Awarded to VERMEG SYSTEMS LIMITED2 awards

What is being bought

Published requirement description

Vermeg Securities & Collateral Management Settlement System Support and Maintenance Contract

The lotProcurement structure

single lot · no lot value published
Lot #1AwardedSME
Delivery: North East, North West, Yorkshire & Humber, East Midlands, West Midlands, East of England, London, South East, South WestEligibility: SME eligible
72000000 IT services: consulting, software development, Internet and support

Procedure terms & legal framework

From the official record
Procedure method
Direct award
Legal basis
UKPGA · 2023/54 Procurement Act 2023
Notice status
Awarded without competition
Procurement threshold
Unspecified in notice
Regulatory regime
Standard
Commercial structure
Stand-alone contract (no framework)
Competition type
Direct award (no call for competition)
GPA / WTO covered
Unspecified in notice
Recurring procurement
Unspecified in notice
First published
17 Sept 2025, 09:48 BST
Last source update
23 Dec 2025, 13:21 GMT
Authority reference
CON/1001937
FTS notice number
2025/S 000-085838
Latest notice
Contract details notice (UK7)
Delivery area
North East (UKC)North West (UKD)Yorkshire & Humber (UKE)East Midlands (UKF)West Midlands (UKG)East of England (UKH)London (UKI)South East (UKJ)
+1 moreSouth West (UKK)
Official registry OCID
ocds-h6vhtk-059bef Find a Tender
Why no open competition
Single Suppliers Intellectual Property Exclusive Rights
Published justification

(a)due to a particular supplier having intellectual property rights or other exclusive rights, only that supplier can supply the goods, services or works required, and

(b)there are no reasonable alternatives to those goods, services or works.

How it was run

Official notice
Submission deadline
—

Timeline

26 Sept 2025 → 23 Dec 2025 · 2 dates
  1. Standstill ends389 days ago
    26 Sept 2025, 23:59 BST
  2. Notice published301 days ago
    23 Dec 2025, 13:21 GMT

Notice history

5 events · 4 releases on Find a Tender · since 17 Sept 2025
  1. Transparency notice published
    17 Sept 2025, 09:48 BST
    UK5
  2. Contract award notice published
    17 Sept 2025, 09:58 BST
    UK6
  3. Contract signature expected
    30 Sept 2025, 23:59 BST
    scheduled
  4. Contract details notice published
    21 Oct 2025, 08:47 BST
    UK7
  5. Contract details notice published
    23 Dec 2025, 13:21 GMT
    UK7
Routine re-releases (4)
  • 2025-09: 1 release · 17 Sept 2025

Commercial outcome & contract awards

Published awards, contracts and bid statistics, not a forecast
Awards 2
Awarded value £8,000,0001 award exc. VAT · 1 repeated publication of the same award counted once
Contracts signed 2latest 30 Sept 2025
Awarded toValueDateStatus
VERMEG SYSTEMS LIMITED21 Dec 2027 – 20 Dec 2032 · up to 20 Dec 2035Extensions: To continue the support and maintenance service. · Options: To provide additional service.£8,000,00010 Sept 2025Awarded
VERMEG SYSTEMS LIMITED£8,000,000 †same award published again · counted once—Awarded

Contracts

  • Securities & Collateral Management Settlement System Support and Maintenance Contract · VERMEG SYSTEMS LIMITED

    Signed
    30 Sept 2025
    Value
    £8,000,000
    Period
    21 Dec 2027 – 20 Dec 2032 · up to 20 Dec 2035 with extensions
    Status
    active
    Extensions
    To continue using the service.
    Options
    Provide additional service.
    3 agreed KPIs: Service level performance reporting · Quarterly Review Meeting report · Compliance with the Bank's Security requirements
    • Service level performance reporting
    • Quarterly Review Meeting report
    • Compliance with the Bank's Security requirements

  • Contract 2 · VERMEG SYSTEMS LIMITED

    Signed
    30 Sept 2025
    Value
    £8,000,000
    Period
    21 Dec 2027 – 20 Dec 2032 · up to 20 Dec 2035 with extensions
    Status
    active
    Extensions
    To continue using the service.
    Options
    Provide additional service.
    3 agreed KPIs: Name Service level performance reporting · Quarterly Review Meeting report · Compliance with the Bank's Security requirements
    • Name Service level performance reporting
    • Quarterly Review Meeting report
    • Compliance with the Bank's Security requirements

Contracting authority & participating public bodies

BANK OF ENGLAND

Contracting authorityPublic authority - central government GB-COH: RC000042 · GB-PPON: PRDB-1113-HPPT Threadneedle Street, London, London, EC2R 8AHContact email

Bidders & participating suppliers

1 commercial party on the notice
  • VERMEG SYSTEMS LIMITEDAwarded supplierGB-COH: 02322432GB-PPON: PGTM-2465-XGDT 55-56 Russell Square, London, London, WC1B 4HPContact email

Official documents & specifications (5)

Official links; attachments are not copied

Tender pack and attachments

Notices published for this procedure

  • Contract details notice contractContract details noticeUK7Contract details notice on Find a Tender
  • Contract details notice contractContract details noticeUK7Contract details notice on Find a Tender
  • Contract award notice awardContract award noticeUK6Contract award notice on Find a Tender
  • Transparency notice awardTransparency noticeUK5Transparency notice on Find a Tender