Bloomberg Financial Markets 26-28 Sole Source

The Illinois Housing Development Authority (IHDA) issued a Notice of Intent to Award a sole source contract to Bloomberg Finance LP for Financial Markets services. This procurement, identified as Bidbuy No. 26-551HDA-INFOT-B-52149, seeks to establish a two-year agreement beginning July 1, 2026, and ending June 30, 2028, for Bloomberg Financial Markets software services. The deliverables and key objectives include managing investments, executing trades, creating trade tickets, valuing portfolios, tracking mortgage-backed securities, monitoring indexes and Treasury rates, managing investment collateral, and conducting portfolio stress tests. IHDA justifies this sole source procurement on the grounds that Bloomberg is proprietary software and the only vendor capable of delivering the full range of integrated functionality required, as no single alternative provider can meet the comprehensive scope of the Authority's operational and analytical needs. The public comment period deadline was May 22, 2026, at 4:00 p.m., with a scheduled public hearing on May 22, 2026, at 2:00 p.m. via WebEx. Written comments or public hearing requests were to be submitted to Dianne Richman, Chief Procurement Office for General Services, at Dianne.Richman@illinois.gov or 217-622-1857. The contract posting date was May 13, 2026, with a due date of May 27, 2026.

This procurement is restricted to Bloomberg Finance LP as a sole source award, with no set-aside designations for disadvantaged enterprises noted in the documentation. IHDA has maintained a continuous contractual relationship with Bloomberg since 1999, with the most recent contract (FY26) valued at $159,000 for the period January 1 through June 30, 2026. The contract value for the proposed two-year initial term is not to exceed $364,000, with funding sourced from locally held funds at IHDA, a self-supported public entity. IHDA asserts that the price is non-negotiable and constitutes Bloomberg's standard contract fees, which the Authority considers fair and reasonable given the breadth of functions provided compared to alternative products offering only limited functionality. The existing Bloomberg infrastructure and systems currently in place at IHDA require integration and continuity, further supporting the sole source justification. The State Purchasing Officer approved the sole source justification on May 11, 2026, pending the outcome of the public hearing process.