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PROCUREMENT OPPORTUNITY

Upgrading the Securities & Collateral Management Settlement System

BANK OF ENGLAND · Transparency notice on Find a Tender

Tender information last checkedLast checked 30 Sept 2026, 00:40.

Opportunity overview

Upgrading the Bank of England's Securities & Collateral Management Settlement System.

Awarded to

Amounts belong to published awards or contracts. Where several suppliers share one value, it is labelled as shared and is not a supplier-specific allocation.

VERMEG SYSTEMS LIMITED

Matched by number
Shared published award value
£3.5m
Awarded
23 Apr 2025
Suppliers
One of 2 awarded suppliers
Award ID
1
Status
active
Identifier
GB-COH 02322432
Location
London, UKI31, WC1B 4HP, United Kingdom

Vermeg Solutions SA

Match pending…
Shared published award value
£3.5m
Awarded
23 Apr 2025
Suppliers
One of 2 awarded suppliers
Award ID
1
Status
active
Identifier
GB-PPON PGTM-2465-XGDT
Location
London, UKI31, WC1B4HP, United Kingdom

Classification

No classification was supplied.

Lots

  • Lot 1Value not stated

Documents and notices

Published notice details

Additional information from the published procurement release. Fields appear only when supplied by the source; check the original notice and tender documents before acting.

Scope, procedure and submissions

Id
CON/1001823
Status
complete
Procurement Method
direct
Procurement Method Details
Direct award
Why this procedure was chosen
The following conditions are met in relation to the public contract- (a)due to a particular supplier having intellectual property rights or other exclusive rights, only that supplier can supply the goods, services or works required, and (b)there are no reasonable alternatives to those goods, services or works.

Legal basis

Id
2023/54
Scheme
UKPGA

Procedure reasons

Entry 1
Id
singleSuppliersIntellectualPropertyExclusiveRights
Entry 2
Id
singleSuppliersTechnicalReasons

Lots and requirements

Entry 1
Id
1
Status
complete

Published documents

Entry 1
Id
conflictOfInterest
Description
Not published
Document Type
conflictOfInterest

Buyer, suppliers and contacts

Organisation 1
Id
GB-COH-RC000042
Name
BANK OF ENGLAND

Roles

buyer

Address

Region
UKI31
Country
GB
Locality
London
Postal Code
EC2R 8AH
Country Name
United Kingdom
Street Address
Threadneedle Street

Details

Classifications

Entry 1
Id
publicAuthorityCentralGovernment
Scheme
UK_CA_TYPE
Description
Public authority - central government

Identifier

Id
RC000042
Scheme
GB-COH

Contact

Additional Identifiers

Entry 1
Id
PRDB-1113-HPPT
Scheme
GB-PPON
Organisation 2
Id
GB-PPON-PGTM-2465-XGDT
Name
Vermeg Solutions SA

Roles

supplier

Address

Region
UKI31
Country
GB
Locality
London
Postal Code
WC1B4HP
Country Name
United Kingdom
Street Address
55-56 Russell Square

Details

Vcse
No
Scale
large

Identifier

Id
PGTM-2465-XGDT
Scheme
GB-PPON

Contact

Organisation 3
Id
GB-COH-02322432
Name
VERMEG SYSTEMS LIMITED

Roles

supplier

Address

Region
UKI31
Country
GB
Locality
London
Postal Code
WC1B 4HP
Country Name
United Kingdom
Street Address
55-56 Russell Square

Details

Vcse
No
Scale
large
Sheltered Workshop
No
Public Service Mission Organization
No

Identifier

Id
02322432
Scheme
GB-COH

Contact

Additional Identifiers

Entry 1
Id
PGTM-2465-XGDT
Scheme
GB-PPON

Award information

Award 1
Id
1
Date
24 Apr 2025, 00:00
Title
Upgrading the Securities & Collateral Management Settlement System
Status
active
Has Options
Yes
Above Threshold
Yes
Main Procurement Category
services

Items

Item 1
Id
1
Related Lot
1

Delivery locations

Entry 1
Region
UKC
Country
GB
Country Name
United Kingdom
Entry 2
Region
UKD
Country
GB
Country Name
United Kingdom
Entry 3
Region
UKE
Country
GB
Country Name
United Kingdom
Entry 4
Region
UKF
Country
GB
Country Name
United Kingdom
Entry 5
Region
UKG
Country
GB
Country Name
United Kingdom
Entry 6
Region
UKH
Country
GB
Country Name
United Kingdom
Entry 7
Region
UKI
Country
GB
Country Name
United Kingdom
Entry 8
Region
UKJ
Country
GB
Country Name
United Kingdom
Entry 9
Region
UKK
Country
GB
Country Name
United Kingdom
Entry 10
Region
UKC
Country
GB
Country Name
United Kingdom
Entry 11
Region
UKD
Country
GB
Country Name
United Kingdom
Entry 12
Region
UKE
Country
GB
Country Name
United Kingdom
Entry 13
Region
UKF
Country
GB
Country Name
United Kingdom
Entry 14
Region
UKG
Country
GB
Country Name
United Kingdom
Entry 15
Region
UKH
Country
GB
Country Name
United Kingdom
Entry 16
Region
UKI
Country
GB
Country Name
United Kingdom
Entry 17
Region
UKJ
Country
GB
Country Name
United Kingdom
Entry 18
Region
UKK
Country
GB
Country Name
United Kingdom
Entry 19
Region
UK
Country
GB
Country Name
United Kingdom

Additional Classifications

Entry 1
Id
72000000
Scheme
CPV
Description
IT services: consulting, software development, Internet and support

Value

Amount
3,541,666.67
Currency
GBP
Including VAT
4,250,000

Options

Description
Additional service to support implementation for this contract.

Documents

Entry 1
Id
017947-2025
Format
text/html
Notice Type
UK5
Description
Transparency notice on Find a Tender
Document Type
awardNotice
Published
30 Apr 2025, 12:20
Entry 2
Id
018468-2025
Format
text/html
Notice Type
UK6
Description
Contract award notice on Find a Tender
Document Type
awardNotice
Published
1 May 2025, 14:42

Suppliers

Supplier 1
Id
GB-PPON-PGTM-2465-XGDT
Name
Vermeg Solutions SA
Supplier 2
Id
GB-COH-02322432
Name
VERMEG SYSTEMS LIMITED

Milestones

Entry 1
Id
1
Type
futureSignatureDate
Status
scheduled
Due
14 May 2025, 23:59

Related lots

1

Contract period

Ends
20 Dec 2027, 23:59
Starts
14 May 2025, 00:00

Standstill Period

Ends
13 May 2025, 23:59

Contracts and changes

Entry 1
Id
1
Status
active
Award ID
1
Date Signed
30 May 2025, 00:00
Has Options
Yes
Above Threshold
Yes
No Agreed Metrics Rationale
The contract value is below £5 million including VAT.

Value

Amount
3,541,666.67
Currency
GBP
Including VAT
4,250,000

Period

Ends
20 Dec 2027, 23:59
Starts
30 May 2025, 00:00

Options

Description
Additional service to support implementation for this contract.

Documents

Entry 1
Id
030533-2025
Format
text/html
Notice Type
UK7
Description
Contract details notice on Find a Tender
Document Type
contractNotice
Published
6 Jun 2025, 11:55

Recorded locations

  • Buyer location · London · UKI31 · EC2R 8AH · United Kingdom

Notice and amendment history

1 published notice version reviewed by ProcuraAxis.

1 VERSION
  1. ocds-h6vhtk-050a15-2025-06-06T11:55:46+01:00Transparency notice on Find a Tender ·