EUPD90425 - Securities Brokerage Services

The California State Controller's Office (SCO), Unclaimed Property Division, is seeking a securities brokerage services contractor through Invitation for Bid (IFB) Number EUPD90425. The procurement targets a comprehensive securities management provider responsible for full custodianship of securities, trade execution, accounting, and claims processing. Bidders must possess at least $180 million in net capital, a current Series 7 License, Medallion Guarantee Program membership, and securities custodian capabilities. The contract term spans three years from November 1, 2025, to October 31, 2028, with a potential one-year and six-month extension option. Key deliverables include managing unclaimed securities, handling corporate actions, processing claims, providing historical research, and maintaining detailed reporting. Bidders must submit comprehensive documentation including references, financial statements, licenses, and various certifications. The solicitation requires bid submissions by August 22, 2025, with a proposed award date of September 8, 2025.

The procurement includes specific set-aside provisions and preference programs, notably a Disabled Veteran Business Enterprise (DVBE) goal of 3% with potential incentives up to 5% and a Small Business (SB) preference. The contract will compensate the selected contractor through a price-per-share fee structure, with fees deducted from net proceeds of each position. The annual sales volume could range from 5,000 to 8,000 positions, with an estimated total value between $70 million and $200 million. Jurisdictions involved in this procurement include Sacramento County and San Francisco City. While no incumbent vendor is explicitly mentioned, the solicitation emphasizes the contractor's need to integrate with existing SCO infrastructure and manage complex securities portfolios for unclaimed property. Potential bidders should carefully review the IFB documentation to understand the comprehensive requirements and ensure compliance with all specified qualifications and performance expectations.