Attachment 1 - Draft Requirements List (Merger and Acquisitions disclosures subscription data feed).pdf

Sources Sought Notice: 50310224Q0004

Attachment 1 - Draft Requirements List

Merger and Acquisitions disclosures and rumors data feed

The U.S. Securities and Exchange Commission (SEC) requires data in a structured format on merger and or acquisition disclosures and rumors involving companies with securities traded in U.S. markets. The data is needed for integration with other data sources in an internal SEC database.

The SEC requires enterprise access to a data feed that provides:

• Comprehensive coverage of announcements and rumors of potential or completed merger, acquisition, and similar corporate events involving companies with securities traded in U.S.

markets;

• Historical coverage back, at minimum, to January 1, 2005;

• Delivery mechanism(s) that would facilitate easy-to-implement and efficient automated ingestion of the data by the SEC;

• Weekly or more frequent updates that (a) include data for activity that occurred one month or more recently before the date of the update, and (b) use a method that enables efficient and easy-to-implement automated ingestion by the SEC;

o The SEC requires separate tabular files of US deal information and adviser information that can be easily loaded into a relational database. The deal information files must have one row per deal and must uniquely and consistently identify the US issuers (CUSIPs are strongly preferred)

• Best-in-class or near best in-class quality control and validation standards and procedures applied to the data;

• Fully consistent and accurate identification of third-party entities involved as legal and financial advisers or in other capacities across all records in the data;

• Simple extraction of individual third-party entities involved as advisers or in other capacities o reporting of multiple third-party entities in the same field would complicate extraction of individual entities o data containing the information about third-party entities involved should generally have one row for each adviser/deal tuple and include a master deal number that ties the third-party to the respective announcement/rumor

• The following data elements:

o Initial Rumor and Public Disclosure Data(s) o Follow-up Disclosure Date(s) o Termination Date o Deal Size o Commonly-used target company and ultimate parent identifiers and efficient and effective means of intersection with other widely-used sources of public company data (CUSIP is strongly preferred) o Commonly-used acquiring company and ultimate parent identifiers and efficient and effective means of intersection with other widely-used sources of public company data (CUSIP is strongly preferred) o Financial Advisers to Target and Financial Advisers to Acquirer o Legal Advisers to Target, Legal Advisers to Acquirer, Legal Advisers to Target Financial

Advisers and Legal Advisers to Acquirer Financial Advisers o Other third-party organizations and individuals that were exposed to information about potential transactions before the transactions’ public disclosure

• Licensing arrangements permitting o Integration of the product’s data with SEC-proprietary data and other publicly-available data sources in the an SEC data mart or data warehouse; and o An unlimited number of total SEC users and at least 50 concurrent users to query the SEC data mart or data warehouse that is populated in the part by data from the product

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