Securities & Collateral Management Settlement System Support and Maintenance Contract

Opportunity overview

Vermeg Securities & Collateral Management Settlement System Support and Maintenance Contract

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

Published award value: £8m
Awarded: 9 Sept 2025
Award ID: 1
Status: active
Identifier: GB-COH 02322432
Location: London, UKI31, WC1B 4HP, United Kingdom

VERMEG SYSTEMS LIMITED

Matched by number

Contract value: £8m
Awarded: Not supplied
Contract signed: 29 Sept 2025
Including VAT: £9.6m
Award ID: 2
Status: active
Identifier: GB-COH 02322432
Location: London, UKI31, WC1B 4HP, United Kingdom

Classification

No classification was supplied.

Lots

Lot 1Value not stated

Documents and notices

Contract details notice on Find a TenderOpen source ↗
Contract details notice on Find a TenderOpen source ↗
Contract award notice on Find a TenderOpen source ↗
Transparency notice on Find a TenderOpen source ↗
contractSignedOpen source ↗

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/1001937
Status: complete
Procurement Method: direct
Procurement Method Details: Direct award
Why this procedure was chosen: (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
Uri: https://www.legislation.gov.uk/ukpga/2023/54/contents ↗
Scheme: UKPGA

Procedure reasons

Entry 1

Id: singleSuppliersIntellectualPropertyExclusiveRights

Lots and requirements

Entry 1

Id: 1
Status: complete

Suitability

Sme: Yes

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

Email: askprocurement@bankofengland.co.uk

Additional Identifiers

Entry 1

Id: PRDB-1113-HPPT
Scheme: GB-PPON

Organisation 2

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

Url: http://www.vermeg.com ↗
Vcse: No
Scale: large
Sheltered Workshop: No
Public Service Mission Organization: No

Identifier

Id: 02322432
Scheme: GB-COH

Contact

Email: jmistry@vermeg.com

Additional Identifiers

Entry 1

Id: PGTM-2465-XGDT
Scheme: GB-PPON

Award information

Award 1

Id: 1
Date: 10 Sept 2025, 00:00
Status: active
Has Options: Yes
Has Renewal: 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: UKC
Country: GB
Country Name: United Kingdom

Entry 20

Region: UKD
Country: GB
Country Name: United Kingdom

Entry 21

Region: UKE
Country: GB
Country Name: United Kingdom

Entry 22

Region: UKF
Country: GB
Country Name: United Kingdom

Entry 23

Region: UKG
Country: GB
Country Name: United Kingdom

Entry 24

Region: UKH
Country: GB
Country Name: United Kingdom

Entry 25

Region: UKI
Country: GB
Country Name: United Kingdom

Entry 26

Region: UKJ
Country: GB
Country Name: United Kingdom

Entry 27

Region: UKK
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: 8,000,000
Currency: GBP
Including VAT: 9,600,000

Options

Description: To provide additional service.

Renewal

Description: To continue the support and maintenance service.

Documents

Entry 1

Id: 057185-2025
Url: https://www.find-tender.service.gov.uk/Notice/057185-2025 ↗
Format: text/html
Notice Type: UK5
Description: Transparency notice on Find a Tender
Document Type: awardNotice
Published: 17 Sept 2025, 09:48

Entry 2

Id: 057189-2025
Url: https://www.find-tender.service.gov.uk/Notice/057189-2025 ↗
Format: text/html
Notice Type: UK6
Description: Contract award notice on Find a Tender
Document Type: awardNotice
Published: 17 Sept 2025, 09:58

Suppliers

Supplier 1

Id: GB-COH-02322432
Name: VERMEG SYSTEMS LIMITED

Milestones

Entry 1

Id: 1
Type: futureSignatureDate
Status: scheduled
Due: 30 Sept 2025, 23:59

Related lots

Contract period

Ends: 20 Dec 2032, 23:59
Starts: 21 Dec 2027, 00:00
Max Extent Date: 20 Dec 2035, 23:59

Standstill Period

Ends: 26 Sept 2025, 23:59

Award 2

Id: 2
Status: active
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

Additional Classifications

Entry 1

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

Suppliers

Supplier 1

Id: GB-COH-02322432
Name: VERMEG SYSTEMS LIMITED

Related lots

Contracts and changes

Entry 1

Id: 1
Title: Securities & Collateral Management Settlement System Support and Maintenance Contract
Status: active
Award ID: 1
Date Signed: 30 Sept 2025, 00:00
Has Options: Yes
Has Renewal: Yes
Above Threshold: Yes

Value

Amount: 8,000,000
Currency: GBP
Including VAT: 9,600,000

Period

Ends: 20 Dec 2032, 23:59
Starts: 21 Dec 2027, 00:00
Max Extent Date: 20 Dec 2035, 23:59

Options

Description: Provide additional service.

Renewal

Description: To continue using the service.

Documents

Entry 1

Id: 066939-2025
Url: https://www.find-tender.service.gov.uk/Notice/066939-2025 ↗
Format: text/html
Notice Type: UK7
Description: Contract details notice on Find a Tender
Document Type: contractNotice
Published: 21 Oct 2025, 08:47

Agreed Metrics

Entry 1

Id: 1
Title: Service level performance reporting

Entry 2

Id: 2
Title: Quarterly Review Meeting report

Entry 3

Id: 3
Title: Compliance with the Bank's Security requirements

Entry 2

Id: 2
Status: active
Award ID: 2
Date Signed: 30 Sept 2025, 00:00
Has Options: Yes
Has Renewal: Yes
Above Threshold: Yes

Value

Amount: 8,000,000
Currency: GBP
Including VAT: 9,600,000

Period

Ends: 20 Dec 2032, 23:59
Starts: 21 Dec 2027, 00:00
Max Extent Date: 20 Dec 2035, 23:59

Options

Description: Provide additional service.

Renewal

Description: To continue using the service.

Documents

Entry 1

Id: A-9558
Url: https://www.find-tender.service.gov.uk/Notice/Attachment/A-9558 ↗
Format: application/pdf
Document Type: contractSigned

Entry 2

Id: 085838-2025
Url: https://www.find-tender.service.gov.uk/Notice/085838-2025 ↗
Format: text/html
Notice Type: UK7
Description: Contract details notice on Find a Tender
Document Type: contractNotice
Published: 23 Dec 2025, 13:21

Agreed Metrics

Entry 1

Id: 1
Title: Name Service level performance reporting

Entry 2

Id: 2
Title: Quarterly Review Meeting report

Entry 3

Id: 3
Title: Compliance with the Bank's Security requirements

Recorded locations

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

Notice and amendment history

1 published notice version reviewed by ProcuraAxis.

1 VERSION

ocds-h6vhtk-059bef-2025-12-23T13:21:38ZTransparency notice on Find a Tender · 23 Dec 2025, 13:21