Scope
Reference
CON/1001937
Description
Vermeg Securities & Collateral Management Settlement System Support and Maintenance Contract
Contract 1. Securities & Collateral Management Settlement System Support and Maintenance Contract
Supplier
Contract value
- £8,000,000 excluding VAT
- £9,600,000 including VAT
Above the relevant threshold
Date signed
30 September 2025
Contract dates
- 21 December 2027 to 20 December 2032
- Possible extension to 20 December 2035
- 8 years
Description of possible extension:
To continue using the service.
Main procurement category
Services
Options
The right to additional purchases while the contract is valid.
Provide additional service.
CPV classifications
- 72000000 - IT services: consulting, software development, Internet and support
Contract locations
- UKC - North East (England)
- UKD - North West (England)
- UKE - Yorkshire and the Humber
- UKF - East Midlands (England)
- UKG - West Midlands (England)
- UKH - East of England
- UKI - London
- UKJ - South East (England)
- UKK - South West (England)
Key performance indicators
| Name |
|---|
| Service level performance reporting |
| Quarterly Review Meeting report |
| Compliance with the Bank's Security requirements |
Other information
Conflicts assessment prepared/revised
Yes
Procedure
Procedure type
Direct award
Direct award justification
Single supplier - intellectual property or exclusive rights
(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.
Supplier
VERMEG SYSTEMS LIMITED
- Companies House: 02322432
- Public Procurement Organisation Number: PGTM-2465-XGDT
55-56 Russell Square
London
WC1B 4HP
United Kingdom
Email: jmistry@vermeg.com
Website: http://www.vermeg.com
Region: UKI31 - Camden and City of London
Small or medium-sized enterprise (SME): No
Voluntary, community or social enterprise (VCSE): No
Supported employment provider: No
Public service mutual: No
Contract 1. Securities & Collateral Management Settlement System Support and Maintenance Contract
Contracting authority
BANK OF ENGLAND
- Companies House: RC000042
- Public Procurement Organisation Number: PRDB-1113-HPPT
Threadneedle Street
London
EC2R 8AH
United Kingdom
Region: UKI31 - Camden and City of London
Organisation type: Public authority - central government