University of Illinois at Urbana-Champaign
Announcement of a Sole Source Purchase
Vendor: Bloomberg LP, New York, NY
Amount: An estimated $506,700
An estimated start date of 8/5/2020 through 8/4/2023, 36 months
The University award process may be delayed up to thirty days as this award goes through a state approval process.
The hearing has been cancelled since no vendors registered to attend or submitted comments regarding this notice.
The Chief Procurement Officer for this procurement is now John Donato.
The State Purchasing Officer for this procurement is now Catherine Bradbury.
First published Tuesday, July 21, 2020
The University awarded a contract for Financial Research Services to Bloomberg LP, New York, NY, for an estimated $506,700.
The University has a need to purchase historical and real time financial market service with analytical tools for equity, derivatives, fixed income, commodities, currency, asset management, and macro-economic data. This is needed based on research requirements, which include access to data not accessible through traditional academic databases; modules and curriculum integration tools that help faculty offer cutting-edge resources to students as well as data for courses, capstone projects and research; remote access; financial training, certifications and professional education at no extra cost to our students; and data and analytical tools that span across all areas in finance and all asset classes.
The end result of this will be a financial service package able to meet the research requirement needs of students and faculty in all finance and accounting programs at UIUC. The university, on information and belief, has concluded that only one vendor can meet its need or can meet the need economically. That vendor is Bloomberg LP. The university has provided detailed justification to support its conclusion as shown on the attached Sole Source Justification Form.
Although the university has presented this as a sole source procurement, we are seeking competitive information from firms with the capability of meeting the university?s need (even if performed in a manner different from what has been presented) to contact us and provide sufficient information to show the need can be met. If we receive that information, the Chief Procurement Officer will offer a public hearing to consider the matter. Hearing information is described below.
The University has determined that this purchase is only economically available from this source because the items are required for research and no other source is able to meet the researcher's documented needs.
For instructions on how to obtain a comprehensive purchase description, disclosure or contract forms, contact:
Chief Procurement Officer - John Donato
State Purchasing Officer - Catherine Bradbury
We will hold a public hearing at the date, time and location specified below, if we
receive a request to testify regarding the sole source determination. We will also
hold a hearing if any vendor submits a signed statement showing the capability to
provide the stated supplies/services at or below the amount indicated.
The public hearing allows any interested party the opportunity to testify for or against
the sole source determination as described in this notice. The purpose of the hearing
is to receive information from the public in a reasonable manner. Formal rules of evidence
will not apply. The hearing officer will produce minutes of the hearing and may record
it in order to aid in the production of the minutes. After conclusion of the hearing we
will decide whether the sole source determination was appropriate.
We must receive any request to testify and any vendor statement no later than the
registration date and time indicated below. If we do not receive a timely request or statement, we will not hold
the hearing. We reserve the right to cancel the procurement prior to any scheduled hearing.
Please confirm the status of the hearing with the Hearing Contact.
August 5, 2020
Additional Information: All sole source hearings under the jurisdiction of the Chief Procurement Officer for Higher Education will be conducted by tele-conference only until the in-person option is reinstated.
Potential participants are requested to call ahead to verify
location and get directions.
Date, time, and location are
subject to change and/or cancellation. It is the responsibility of potential
participants to confirm these details prior to attendance.
July 31, 2020
The State of Illinois has a policy to encourage prospective vendors to hire
qualified veterans, minorities, females, persons with disabilities and ex-offenders.