Redacted Sole Source Justification__50310220P0064.pdf

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

100 F STREET, NE

WASHINGTON, DC 20549

OFFICE OF

ACQUISITIONS

JUSTIFICATION FOR SOLE SOURCE ACQUISITION

1. Identification of the agency and the contracting activity, and specific identification of the document as a “Justification for other than full and open competition.”

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 to Greenwich Associates LLC for subscription to proprietary research and data related to market structure and technology.

3. A description of the supplies or services required to meet the agency’s needs (including the estimated value).

The SEC requires subscription to Greenwich Associates proprietary research and data related to market structure and technology. Research and data shall be in, but is not limited to, the following areas:

Fixed Income (Examines the evolution of the fixed-income market, the products, platforms, the role of dealers, institutional investors, and emerging liquidity providers, and the impacts of new and expected regulation.

Equities (Explores the equity market’s changing competitive dynamics, the trading and investment process, OMS/EMS usage, TCA, algorithmic trading, liquidity sourcing, and regulation).

FX (Evaluates the methods market participants use to hedge their risks and express their views, as well as the technology they use to access those instruments, the tools and platforms available, and why they choose them).

The SEC intends to award for a Base Period of twelve months and for up to four Option Periods of 12 months each. The total estimated value is .

4. An Identification of the statutory Authority for Other Than Full and Open Competition:

FAR Part 13.5 in accordance with 41 U.S.C. 1901, 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:

Greenwich Research is a unique ecosystem platform, as it presents live research content that deals exclusively with capital markets professionals, pooling together in one place for the sole purpose of exchanging ideas and information, finding out what industry experts are saying and or thinking about. Greenwich is the only source identified, where much of their content is contributed by industry professionals for other industry professionals, in real-time, bringing light to important industry issues. Their cutting-edge information is supplemented with commentary and research written by Greenwich executives and analysts, tying in relevant news items and press release where independent 3rd-party analyses form the basis for senior sell-side management to benchmark their client businesses, identify revenue opportunities, assess service quality, and optimize allocation of resources. Greenwich Associates LLC is the only known source that fully meets the SEC’s requirement and this content is proprietary; therefore, it is not possible for another source to meet this requirement.

6. A description of efforts made to ensure that offers are solicited from as many potential sources as is 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.

The SEC Office of Acquisitions (OA) has posted a Synopsis on betasam.gov in accordance with FAR 5.201 that provides notification of the SEC’s intent to award a sole source procurement to Greenwich Associates LLC for this requirement.

7. A 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 price will be fair and reasonable based on review of market research price estimates.

8. A description of the market research conducted (see part 10) and the results or a statement of the reason market research was not conducted.

The SEC conducted market research to determine if there are other sources that can meet this requirement. There are other research firms that provide insight and analysis into the financial markets, documented in SEC Market Research Memorandum, but market research shows that each research firm focuses on different segments in the market and so the products are not interchangeable. Greenwich is focused on market structure and associated financial technologies, while other firms on other areas such as financial services industry, financial services technology generally, and information technology generally. A subscription to Greenwich Research compliments other research subscriptions by providing research not covered in the other subscriptions.

9. Any other facts supporting the use of other than full and open competition:

None.

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

A listing of any sources that express interest in this acquisition will be maintained in the contract file.

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 will perform market research for future acquisitions for the purpose of verifying the sole source nature of this requirement.