JOFOC for Nasdaq Market Surveillance Solution
Awarded Limited / Sole Source Justification Posted
- Solicitation number
- 9523ZY25C0010
- Set-aside
- No set-aside
Opportunity facts
- Contract number
- 9523ZY25C0010 Federal contract award
- Awardee
- Adenza, Inc.
- NAICS code
- 519290 Web Search Portals and All Other Information Services
- Place of performance
- Washington, District of Columbia, United States
- Points of contact
Notice details come from SAM.gov. Updated .
About this opportunity
The Commodity Futures Trading Commission (CFTC) issued a Limited/Sole Source Justification Notice for the award of a contract to Adenza, Inc. (a Nasdaq subsidiary) to provide the Nasdaq Market Surveillance (NMS) solution for comprehensive trade surveillance and market monitoring capabilities. The CFTC requires this system to detect potential market manipulation and abusive trading practices across designated contract markets and swap execution facilities, monitoring market data including orders, trades, cancellations, and amendments. The sole source justification was based on Adenza's unique qualifications, as their NMS platform currently supports over 50 global marketplaces, 15 regulatory bodies, and 140 market participants while processing over 60 billion messages daily. The contract was awarded on August 11, 2025, with a total estimated value of $6,437,519 over a five-year period consisting of one base year and four option years. The CFTC posted a pre-solicitation notice on July 2, 2025, with responses due by July 10, 2025, but received no responses, further supporting the determination that only one responsible source exists for this specialized market surveillance requirement.
Notice text
The attached Justification for Other than Full and Open Competition supports the decision to award a contract to Adenza, Inc. (i.e., Nasdaq) on a sole source basis to acquire the Nasdaq Market Surveillance (NMS) solution to conduct comprehensive trade surveillance and market monitoring on the market data received and processed under the CFTC’s existing reporting obligations and regulatory oversight framework. The subject contract was awarded on August 11, 2025, with a 5-year value of $6,437,519.00.
Awarded contract 9523ZY25C0010 to unknown vendor for unknown amount on 2025-08-11.
Files
| File | Type | Posted |
|---|---|---|
| JOFOC - Nasdaq NMS - redacted.pdf |
Notice history
| Notice | Type | Posted |
|---|---|---|
| This notice | Limited / Sole Source Justification | |
| Notice of Intent to Sole Source - Nasdaq Market Surveillance Solution | Pre-Solicitation |
On GovTribe
Work this opportunity
- Track it in your pipeline
- Find teaming partners
- Similar opportunities
- Ask GovTribe AI about this opportunity