The Commodity Futures Trading Commission (CFTC) awarded a firm fixed price purchase order contract to Genscape, Inc., a subsidiary of Verisk Analytics, Inc., for access to Genscape's North American Crude Oil Fundamentals database. The contract is for one year with four one-year options to extend, and has a potential total value of $124,302.00.
The contract provides the CFTC, which has oversight of commodity futures and swaps markets, with access to Genscape's proprietary data on petroleum infrastructure, supply chains, natural gas pipelines, and electricity markets. This information is necessary for the CFTC to analyze physical oil and gas market conditions that impact the prices of futures and swaps contracts under its jurisdiction. The contract was awarded sole-source as the CFTC determined Genscape's database is the only known source for the required information.