Notice of Intent to Sole Source - Market Information Data Analytics System (MIDAS)

Notice of Intent to Sole Source

The Securities and Exchange Commission (SEC) intends to award a sole source contract to MayStreet, Inc. for a Market Information Data Analytics System (MIDAS).  The contract is expected to collect U.S. equities, options, futures, fixed income, cryptocurrency and other market data related information in near real-time and provide this data in a highly performant, fully supported data science platform, meet scalability performance requirements and service level agreements by utilizing cloud-computing services that meets federal government security standards.  The requirement has five parts: Market Data, Data Science Tools, Market Data Analytical Tools, Compute/Storage Platform, and Program Management and Support. 

The required data has stringent objectives that allows staff to view the markets at the same capability of the most sophisticated market participants.  Billions of market data messages are received daily from over two dozen regulated exchanges and non-regulated market venues in the current system.  Each message must be time stamped with highly precise, synchronized and traceable services.  This provides every market data message with at least two time stamps, that which is provided by the exchange/venue, as well as that which is provided by the Contractor when the message is received by their feed handlers.  This data is checked for quality, normalized, stored and made available to users via high-performant APIs and market data tools.  Historic data is provided from as far back as 2008 for exchanges that include NYSE, Nasdaq and the equity SIPs. 

MayStreet is the only known source that has been identified that is capable of fulfilling the SEC’s requirement. MayStreet is the only available contractor with the unique qualifications to effectively provide a market data analytical system that contains granularity functionality, and the required present and historic U.S. market data, which has been time stamped by a consistent feed handler.  Precise and granular time stamping of market data messages from a consistent and traceable source enables SEC staff to accurately reconstruct order books for a specific time period, view and analyze complete order books of individual equities, monitor and understand mini-flash crashes, and reconstruct market events. MayStreet provides timestamping of U.S. market data at microsecond granularity with a clock synchronized to National Institute of Standards and Technology clocks with a clock drift requirement not to exceed 50 microseconds. This data pipeline is used to collect data from the exchanges/venues in real time and is made available for users with a 15-minute delay.  The entire data set is made available in a MayStreet operated highly performant data science platform.

The contract action is for services for which the SEC intends to solicit and negotiate with only a sole source under the authority of FAR 6.302-1 and 41 U.S.C. 253(c)(1), Only One Responsible Source and No Other Supplies or Services Will Satisfy Agency Requirements. Negotiation will be conducted using other than full and open competition procedures pursuant to authority of FAR 6.302-1.

Responsible sources may submit a capability statement, proposal, or quotation, which shall be considered by the agency. This notice of intent is not a request for competitive proposals. The SEC will not be responsible for any cost incurred in preparation of statements, proposal, or quotations. A determination by the SEC not to compete this proposed contract based upon responses to this notice is solely within the discretion of the SEC. Information received will normally be considered solely for the purpose of determining whether to conduct a competitive procurement. No solicitation or additional information will be made available with regard to this sole source notice.

Any responses to this notice of contract action shall be submitted electronically to Ross Saxton (saxtonr@sec.gov) and John Ramsey (ramseyj@sec.gov) no later than April 5, 2022 at 5:00 PM (ET).