Justification for Less Than Open Competition (Bloomberg 2024)_Final.pdf

JUSTIFICATION FOR OTHER THAN FULL & OPEN COMPETITION

1. IDENTIFICATION OF THE AGENCY AND CONTRACTING AGENCY:

BLS/OPLC

2 Massachusetts Ave, NE Room 3840 Washington, DC 20212

Office of the Senior Procurement Executive (OSPE) Office of the Assistant Secretary for Administration and Management (OASAM) U.S. Department of Labor 200 Constitution Ave NW Washington, DC 20210

2. NATURE AND/OR DESCRIPTION OF THE ACTION BEING APPROVED:

Subscription for two Bloomberg Terminals for PPI/OPLC. This will be a one year contract.

3. DESCRIPTION OF SUPPLIES/SERVICES REQUIRED TO MEET THE AGENCY’S

NEEDS (Including the Estimated Value):

The Bloomberg Terminal provides real-time coverage of markets and securities with pricing and analytical information on every asset class, including commodities, equities, and derivatives. In addition, the terminal provides market news along with proprietary industry research and analysis on over 130 industries. The Bloomberg Terminal will be used as an alternative data source for several prices indexes within the financial services sector, as a potential data source for alternative price data in the energy sector, and as a source for other data, research, and news within the PPI/OPLC.

PPI staff requires continuing access to the Bloomberg subscription services. It will allow PPI staff to use data from the Bloomberg service to:

Research using Bloomberg data to assist in the calculation, publication, and analysis for several indexes in the petroleum refineries industry Research using Bloomberg data to assist in the calculation, publication, and analysis for several indexes in additional financial services industries Research using Bloomberg data to potentially assist in the calculation, publication, and analysis for several indexes in other energy industries Research pharmaceutical industry sales data Research fertilizer industry price data Research using Bloomberg data to assist in the calculation, publication, and analysis for several indexes in other industries Other general research using Bloomberg Intelligence services

Two terminals are required by PPI due to Bloomberg limits on the amount of data that can be downloaded on one single Bloomberg Terminal. The estimated value of this requirement is $53,160.00.

4. AN IDENTIFICATION OF THE STATUTORY AUTHORITY PERMITTING

OTHER THAN FULL AND OPEN COMPETITION:

Identification of the justification rationale is 6.302-1, “Only one responsible source and no other supplies or services will satisfy agency requirements.”

5. A DEMONSTRATION THAT THE PROPOSED CONTRACTOR’S UNIQUE

QUALIFICATIONS OR THE NATURE OF THE ACQUISITION REQUIRES USE OF THE

AUTHORITY CITED:

The unique qualification of this contractor is that they provide a cost-effective and dependable solution to obtaining alternative data for several PPI indexes from a single source. Much of this data is needed to continue publishing or greatly improve the quality of current indexes. If the PPI/OPLC, were to attempt to obtain the same data elsewhere, multiple sources would be needed.

This is because no one vendor would be able to provide all the data available from Bloomberg.

Therefore, multiple contracts with multiple vendors would be needed. Research indicates that the cost of all these contracts would exceed $150,000 per year.

Additionally, Bloomberg provides proprietary market research, data, and access to Bloomberg industry analysts. This service is not available from any other source.

6. A DESCRIPTION OF EFFORTS TO OBTAIN COMPETITION TO ENSURE THAT

OFFERS ARE SOLICITED FROM AS MANY POTENTIAL SOURCES AS PRACTICABLE,

INCLUDING WHETHER A NOTICE WAS OR WILL BE PUBLICIZED AS REQUIRED BY

SUBPART 5.2 AND IF NOT, WHICH EXCEPTION UNDER 5.202 APPLIES:

After performing market research, Bloomberg Finance LLC was determined to be the only organization that can provide this data all in one service. No other companies can provide all the data required by PPI/OPLC. This was determined via research into the data products available from other vendors in the financial data services industry. This has been confirmed via:

Discussions with financial industry trade associations Monitoring financial industry trade publications Keeping abreast of developments in the financial services and financial data services industries via financial publications Attended financial industry conferences Discussions with energy industry trade associations Monitoring energy industry trade publications Keeping abreast of developments in the energy industries via publications Attended energy industry conferences Internet searches

A notice of intent will be publicized in accordance with FAR 5.2 on FBO.

7. A DETERMINATION BY THE CONTRACTING OFFICER THAT THE ANTICIPATED

COST TO THE GOVERNMENT WILL BE FAIR AND REASONABLE:

Price is uniform for all subscriptions regardless of customer. The price is based on a one-year subscription to two Bloomberg Terminals. PPI/OPLC has had four previous contracts with Bloomberg. These include:

Contract Years Total Contract Amount:

1625DC-17-P-

5 $118,658.00

1625DC-20-P-

3 $68,943.33

1605C5-22-P- 00023

1 $43,430.00

1605C5-23P- 00016

1 $53,160.00

The cost per terminal per month has generally increased in line with inflation over the years. The current quote from Bloomberg is consistent with the monthly per terminal price as the last contract.

The cost of obtaining portions of this data from other (multiple) sources would be approximately $150,000 or more.

8. A DESCRIPTION OF MARKET RESEARCH CONDUCTED (PART 10) AND THE

RESULTS OR A STATEMENT OF THE REASON MARKET RESEARCH WAS NOT

CONDUCTED:

Based on market research conducted via the internet and financial publications in January- May 2024, there are no other firms in the United States that provide the required data in one service.

A RFI (OAA-24-00183) for these services was published on sam.gov and gsa.gov in May 2024. Two responses were received from EPINEC LLC and SRR International, Inc. These responses were evaluated by PPI/OPLC staff. It was determined that the vendors were not qualified as:

EPINEC LLC’s response offered consulting services for determining which subscriptions services best met the needs of PPI-OPLC-BLS. This firm does not provide the required data itself but was offering research and consulting services.

SRR International, Inc.’s response did not address any of the specific data needs in the RFI.

A RFI (1625-OPL-23-NAT-0040) for these services was published on sam.gov and gsa.gov in May 2023. One response was received from S&P Global Market Intelligence. The response was evaluated by PPI/OPLC staff. It was determined that the vendor was not qualified as their data is not updated in real time according to their response. This is a requirement in the Statement of Work.

9. ANY OTHER SUPPORTING FACTS SUPPORTING THE USE OF OTHER THAN FULL

AND OPEN COMPETITION:

N/A

10. A LISTING OF SOURCES, IF ANY, THAT EXPRESSED, IN WRITING, AN INTEREST IN

THE ACQUISITION:

N/A

11. A STATEMENT OF THE ACTIONS, IF ANY, THE AGENCY MAY TAKE TO REMOVE

OR OVERCOME ANY BARRIERS TO COMPETITION BEFORE ANY SUBSEQUENT

ACQUISITION FOR THE SUPPLIES OR SERVICES REQUIRED:

The Government will continue to conduct market research prior to awarding any future contract.

12. SIGNATURE BLOCKS:

The program/technical official further certifies that no conflict of interest exists in awarding a sole source contract to the contractor identified herein.

TECHNICAL CERTIFICATION:

I certify that the supporting data under my cognizance, which are included in the justification, are accurate and complete to the best of my knowledge and belief.

Signature: _________________________ Date: _____________________________

Type Name: Dinis Leal

Title: COR

CONTRACTING OFFICER CERTIFICATION:

I certify that this justification is accurate and complete to the best of my knowledge and belief.

Signature: _________________________ Date: 7/2/2024

Type Name: Rachael Vargas Title: Contracting Officer