Justification_and_Approval_2016-0067.pdf

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

100 F STREET, NE

WASHINGTON, DC 20549

Office of Acquisitions

JUSTIFICATION AND APPROVAL

SIMPLIFIED PROCEDURES FOR CERTAIN COMMERCIAL ITEMS

RQ 35000-16-0102

J&A Log: 2016-0067

Upon the basis of the following justification as required by FAR 13.501, I hereby approve the issuance of the contractual action discussed below using the Simplified Procedures for Certain Commercial Items, pursuant to the authority cited herein for a sole source acquisition.

1. Contracting Activity.

U.S. Securities and Exchange Commission 100 F Street NE Washington, DC 20549

2. Nature and Description of Action Being Approved:

The U.S. Securities and Exchange Commission (SEC) intends to award a sole source requirement for licenses/services to Bloomberg Finance L.P. (Bloomberg),731 Lexington Avenue, New York, NY 10022-1331, including a commercial interactive information system delivering a continuous data feed of real-time and delayed current and historical domestic and international financial information. This is a renewal contract action.

3. Description of the supplies or services required to meet the needs of the SEC and the estimated value:

The SEC proposes to negotiate the purchase of continuing services for an interactive financial information system for the SEC Headquarters and regional offices that delivers current and historical U.S. and international data continuously, both real-time and delayed.

The service provides a range of market and financial information, both domestic and international, including news, analytics, research, and pricing for the following market sectors: corporate debt, mortgage, money market, municipal, preferred, equity, commodities, indices, currencies, Treasuries, worldwide sovereign and agency, and derivatives. Information shall include company data, issue/issuer, and historical prices/yields from the date of the company’s inception to the present, along with twenty years of fundamentals and earnings data.

The service shall include real-time current and historical transaction data on debt instruments and related derivative products. Required data shall include the following: last-sale price, net-change, bid and size, ask and size, open, high, low, volume, and last-sale time.

The service shall provide the full text of articles from leading news wire services (including Bloomberg News) for domestic and international news stories on business, commodities, and financial issues. The service shall also include an indexed business news archive from 1992 to present, along with an historical archive of leading economic indicators, including consumer price index, producer price index, and information related to inventories.

The system shall provide the capability to access real-time and historical market data analytical programs. The system must have adjustable (vertical and horizontal) display and analytical capabilities such as bar charts, point and figure charts, moving average charts, and multiple graphs displayed simultaneously.

The service shall also include the following:

a) Yield analysis, duration risk factor, horizon analysis, yield equivalents and futures hedging;

b) Interest rate swap analytics, U.S. Government securities yield curves and dealer prepayment estimates;

c) Indicators, including advances, declines, up volume, down volume, and ticks along with access to the full text of stories, business and financial information and access to information concerning holders of individual securities;

d) Merrill Lynch bond indices.

The service shall provide legal research information tools:

a) Access to daily litigation and regulatory summaries and to legal, regulatory and compliance reports;

b) US Federal and State case law histories, legal case filings and dockets;

c) Access to merger and acquisition information, including the details of deals and the analysis of legal and financial advisors.

The estimated contract value is $2,022,960 for the base period and $4,125,000 for the base and all options.

4. Statutory Authority for Simplified Procedures for Certain Commercial Items:

The statutory authority permitting the use of simplified acquisition procedures is (41 U.S.C. 1901) FAR 13.501 – Simplified Procedures for Certain Commercial Items.

5. Demonstration that the nature of the acquisition requires use of the authority cited:

After publication of a notice seeking other possible suppliers who could meet SEC needs, no responsive capable vendors responded. It was therefore determined that the required information in consolidated and useful format can currently only be obtained from Bloomberg.

6. Efforts to ensure that offers are solicited from as Many Potential Sources as Possible.

In accordance with FAR 5.203(a), a notice of intent to award a sole-source contract to Bloomberg for the services specified herein was posted to FedBizOpps.gov.

7. Determination by the Contracting Officer that the anticipated cost to the Government will be fair and reasonable.

The Contracting Officer has determined that the anticipated cost of this action will be fair and reasonable. Before awarding a contract, the contracting officer will perform additional price analysis in accordance with FAR 15.404-1(b).

8. Description of a market research conducted and results or a statement of the reason market research was not conducted:

Knowledgeable individuals in Government and industry were consulted and concluded that the items/services provided by the contractor are unavailable elsewhere in the market. The Assistant Director, Office of Market Watch, advised that Bloomberg provides the analytical tools that the agency requires, and, while other services may have more comprehensive coverage of specific markets, Bloomberg is the most comprehensive service over the full breadth of the various securities markets that the SEC must monitor currently offered in the commercial market and thus is the only service that satisfies the SEC's minimum requirement for such a broad breadth service.

9. Other Supporting Facts:

As a regulator of the securities markets the SEC must have access to the most comprehensive information source available and any source not as comprehensive would not meet minimum requirements. While other services may have more comprehensive coverage of specific markets, Bloomberg is the most comprehensive service over the full breadth of the various securities markets that the SEC must monitor currently offered in the commercial market and thus is the only service that satisfies the SEC's minimum requirement for such a broad breadth service.

10. A listing of the sources, if any that expressed, in writing an interest in the acquisition:

None

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 SEC intends to post this signed J&A after award in accordance with 13.501(a)(1)(iii). Along with the posted J&A the SEC will request that all interested vendors in subsequent acquisitions for this requirement demonstrate their capabilities through a 30 day trial period, on-site demonstration and training.

Technical & Requirements Certifications I certify that the facts and representations under my cognizance, which are included in this justification, are complete and accurate.

(Signature) __________________________ Date: _____________ Edward Padula

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

(Signature) _______________________________ Date: _____________ Victor Cairo, Contracting Officer

General Counsel Review Based upon the facts and rationale presented herein, this justification appears legally sufficient.

(Signature) _______________________________ Date: _____________

Senior Procurement Executive Approved:

(Signature)__________________________________ Date: ____________ Vance Cathell, Senior Procurement Executive