Third-Party Securities Lending Agent Services

The Texas Teachers Retirement System (TRS) is seeking proposals from qualified vendors to provide third-party daily securities lending services, including the reinvestment of any cash collateral received and/or delivering that cash collateral to TRS for general investment use. The contract opportunity covers multiple jurisdictions in Texas, including Travis County and the City of Austin. The initial contract term is two (2) years with two (2) one-year optional renewal terms. Proposals are due by May 3, 2024 at 3:00 p.m. Central Time, and a non-mandatory pre-proposal conference will be held on April 4, 2024. TRS will evaluate proposals based on factors such as respondent qualifications, technical approach, operational relationship with the custodian bank, and pricing. TRS may request presentations or best and final offers from top-scoring respondents before making a recommendation to the TRS Board of Trustees for contract award.

The RFP does not require a Historically Underutilized Business (HUB) Subcontracting Plan, but the contractor must obtain prior approval from TRS before utilizing any subcontractors. The contract includes detailed insurance, confidentiality, and security policy requirements. Pricing must be provided on the RFP's approved price form, and no escalation of pricing is allowed for any optional renewal terms. The procurement documents do not provide information about any set-aside designations, incumbent vendors, or budget ranges.