Voluntary ex-ante transparency notice regarding Global Custody Agreement 2024

Arbejdsmarkedets Tillægspension wishes to enter into a Global Custody Agreement for a period of 4 to 8 years to replace the present agreement, which terminates 6 October 2025.Arbejdsmarkedets Tillægspension — which is a pension fund organized as an independent, self-governing institution governed by law — will be the contracting party. …

CPV: 66100000 Banking and investment services, 66110000 Banking services, 66150000 Financial markets administration services, 66162000 Custody services, 66172000 Financial transaction processing and clearing-house services
Place of execution:
Voluntary ex-ante transparency notice regarding Global Custody Agreement 2024
Awarding body:
ATP
Award number:
234601632

1. Buyer

1.1 Buyer

Official name : ATP

2. Procedure

2.1 Procedure

Title : Voluntary ex-ante transparency notice regarding Global Custody Agreement 2024
Description : Arbejdsmarkedets Tillægspension wishes to enter into a Global Custody Agreement for a period of 4 to 8 years to replace the present agreement, which terminates 6 October 2025.Arbejdsmarkedets Tillægspension — which is a pension fund organized as an independent, self-governing institution governed by law — will be the contracting party. The contract will include services to Arbejdsmarkedets Tillægspension as well as its subsidiaries and schemes and entities administered or managed by Arbejdsmarkedets Tillægspension (collectively referred to as ATP in this notice).The Global Custody Agreement will comprise the following main services:A) Safekeeping of ATP's securities and daily reconciliations between the custodian banks registrations and sub-custodians/CSD's or ICSD's.B) Trade processing of ATP's securities and FX instrument trades. Services such as pre-matching of ATP's trade instructions, SSI enrichment and settlement of transactions are required by ATP.C) Cash management services such as daily management of ATP's settlement accounts in various currencies and payments to and from ATP's counterparties.D) Additional custody services such as e.g. handling of proceeds, corporate actions and reclaim of withholding tax, etc.E) Collateral Management services related to the daily administration of mainly ATP's OTC derivatives (bilateral and cleared).F) Committed Credit Facility to ATP. This is contained as an option in the Global Custody Agreement.The custodian bank's services are expected to be performed in a standard (high level of e.g. STP and IT security), which is expected to be delivered by the leading international providers of global custody services. ATP expects the custodian bank to improve its services on an on-going basis throughout the term of the agreement with ATP to match changes in market standards, products and best practices for the Global Custody and Collateral Management industry, and ATP expects the global custodian to be willing to set new standards and support ATP's goals.The volume of the Global Custody Agreement depends, among other things, on the development of the stock markets, ATP's investment strategy and the size of ATP's assets, which per 31 December 2023 was approximately 860 billion DKK, of which approximately 500 billion DKK of the assets will be included in the Global Custody Agreement.Procedure:It is ATP's assessment that the services included in the Global Custody Agreement are covered by the exceptions in section 21(1), no. 5 and 6 of the Danish Public Procurement Act, as each service constitutes a financial service provided in connection with the issue, ..., purchase or transfer of securities or other financial instruments pursuant to Directive 2014/65/EU, or a loan. On this basis it is ATP's assessment that the Global Custody Agreement in its entirety can be exempted from the tender obligation pursuant to paragraph II of the Danish Public Procurement Act.Interested candidates were encouraged by ATP to contact ATP for the purpose of expressing an interest in obtaining the award of the contract no later than the end of September 2024, see 520698-2024 - Planning - TED (europa.eu) and Prior information notice regarding Global Custody Agreement 2024 (mercell.com) (click on "Information som PDF" to see the full description).ATP expects to enter into a contract with The Bank of New York Mellon SA/NV after the expiry of a standstill period of 10 days from the day after the publication of this notice. The standstill period thus expires on 11 November 2024.This notice is published pursuant to section 4 of the Danish Act on the complaints board.
Procedure identifier : 62e8b3d2-736f-4381-a9a9-69933a7688ae
Previous notice : 520698-2024
Internal identifier : 234601632
Type of procedure : Negotiated without prior call for competition

2.1.1 Purpose

Main nature of the contract : Services
Main classification ( cpv ): 66100000 Banking and investment services
Additional classification ( cpv ): 66110000 Banking services
Additional classification ( cpv ): 66150000 Financial markets administration services
Additional classification ( cpv ): 66162000 Custody services
Additional classification ( cpv ): 66172000 Financial transaction processing and clearing-house services

2.1.2 Place of performance

Country : Denmark
Anywhere in the given country

2.1.4 General information

Legal basis :
Directive 2014/24/EU

5. Lot

5.1 Lot technical ID : LOT-0000

Title : Profylaksebekendtgørelse vedr. depotbankaftale 2024
Description : Arbejdsmarkedets Tillægspension wishes to enter into a Global Custody Agreement for a period of 4 to 8 years to replace the present agreement, which terminates 6 October 2025.Arbejdsmarkedets Tillægspension — which is a pension fund organized as an independent, self-governing institution governed by law — will be the contracting party. The contract will include services to Arbejdsmarkedets Tillægspension as well as its subsidiaries and schemes and entities administered or managed by Arbejdsmarkedets Tillægspension (collectively referred to as ATP in this notice).The Global Custody Agreement will comprise the following main services:A) Safekeeping of ATP's securities and daily reconciliations between the custodian banks registrations and sub-custodians/CSD's or ICSD's.B) Trade processing of ATP's securities and FX instrument trades. Services such as pre-matching of ATP's trade instructions, SSI enrichment and settlement of transactions are required by ATP.C) Cash management services such as daily management of ATP's settlement accounts in various currencies and payments to and from ATP's counterparties.D) Additional custody services such as e.g. handling of proceeds, corporate actions and reclaim of withholding tax, etc.E) Collateral Management services related to the daily administration of mainly ATP's OTC derivatives (bilateral and cleared).F) Committed Credit Facility to ATP. This is contained as an option in the Global Custody Agreement.The custodian bank's services are expected to be performed in a standard (high level of e.g. STP and IT security), which is expected to be delivered by the leading international providers of global custody services. ATP expects the custodian bank to improve its services on an on-going basis throughout the term of the agreement with ATP to match changes in market standards, products and best practices for the Global Custody and Collateral Management industry, and ATP expects the global custodian to be willing to set new standards and support ATP's goals.The volume of the Global Custody Agreement depends, among other things, on the development of the stock markets, ATP's investment strategy and the size of ATP's assets, which per 31 December 2023 was approximately 860 billion DKK, of which approximately 500 billion DKK of the assets will be included in the Global Custody Agreement.
Internal identifier : 234601632

5.1.1 Purpose

Main nature of the contract : Services
Main classification ( cpv ): 66100000 Banking and investment services
Additional classification ( cpv ): 66110000 Banking services
Additional classification ( cpv ): 66150000 Financial markets administration services
Additional classification ( cpv ): 66162000 Custody services
Additional classification ( cpv ): 66172000 Financial transaction processing and clearing-house services
Options :
Description of the options : Please see description.

5.1.2 Place of performance

Country : Denmark
Anywhere in the given country
Additional information :

5.1.3 Estimated duration

Duration : 4 Year

5.1.4 Renewal

Maximum renewals : 2
The buyer reserves the right for additional purchases from the contractor, as described here : 2 * 24 months

5.1.6 General information

Procurement Project not financed with EU Funds.
The procurement is covered by the Government Procurement Agreement (GPA) : yes

5.1.12 Terms of procurement

Information about review deadlines : In accordance with Consolidation Act No. 593 of 2 June 2016 concerning the Complaints Board for Public Procurement, with subsequent amendments, a complaint that the contracting authority has entered into a contract in violation of the Public Procurement Directive without prior publication of a contract notice in the Official Journal of the European Union must be submitted to the Complaints Board for Public Procurement within 30 calendar days from the day after the contracting authority has published a contract award notice in the Official Journal of the European Union, provided that the notice contains the justification for the contracting authority's decision to award the contract without prior publication of a contract notice in the Official Journal of the European Union. Complaint Guidelines can be found here: https://naevneneshus.dk/media/u42g3exz/complaint-guidelines.pdf

5.1.16 Further information, mediation and review

Review organisation : Klagenævnet for Udbud - Nævnenes Hus
Organisation providing more information on the review procedures : Konkurrence- og Forbrugerstyrelsen
Organisation signing the contract : ATP
TED eSender : Mercell Holding ASA

6. Results

Direct award :
Justification for direct award : Specific exclusions for service contracts
Other justification : It is ATP's assessment that the services included in the Global Custody Agreement are covered by the exceptions in section 21(1), no. 5 and 6 of the Danish Public Procurement Act, as each service constitutes a financial service provided in connection with the issue, sale, purchase or transfer of securities or other financial instruments pursuant to Directive 2014/65/EU, or a loan. On this basis it is ATP's assessment that the Global Custody Agreement in its entirety can be exempted from the tender obligation pursuant to paragraph II of the Danish Public Procurement Act.

6.1 Result lot ldentifier : LOT-0000

6.1.2 Information about winners

Winner :
Official name : The Bank of New York Mellon SA/NV
Tender :
Tender identifier : 234601632
Identifier of lot or group of lots : LOT-0000
Contract information :
Identifier of the contract : 234601632
Title : Global Custody Agreement
The contract is awarded within a framework agreement : no
Organisation signing the contract : ATP

8. Organisations

8.1 ORG-0001

Official name : ATP
Registration number : 43405810
Postal address : Kongens Vænge 8
Town : Hillerød
Postcode : 3400
Country subdivision (NUTS) : Nordsjælland ( DK013 )
Country : Denmark
Contact point : Lykke Foldager Ove
Telephone : +45 70111213
Roles of this organisation :
Buyer
Organisation signing the contract

8.1 ORG-0002

Official name : Klagenævnet for Udbud - Nævnenes Hus
Registration number : 37795526
Postal address : Toldboden 2
Town : Viborg
Postcode : 8800
Country subdivision (NUTS) : Vestjylland ( DK041 )
Country : Denmark
Telephone : +45 72405600
Fax : +45 33307799
Internet address : http://www.naevneneshus.dk
Roles of this organisation :
Review organisation

8.1 ORG-0003

Official name : Konkurrence- og Forbrugerstyrelsen
Registration number : 10294819
Postal address : Carl Jacobsens Vej 35
Town : Valby
Postcode : 2500
Country subdivision (NUTS) : Byen København ( DK011 )
Country : Denmark
Telephone : +45 41715000
Fax : +45 41715100
Internet address : http://www.kfst.dk
Roles of this organisation :
Organisation providing more information on the review procedures

8.1 ORG-0004

Official name : The Bank of New York Mellon SA/NV
Postal address : Boulevard Anspachlaan 1
Town : Bruxelles
Postcode : 1000
Country subdivision (NUTS) : Arr. de Bruxelles-Capitale/Arr. Brussel-Hoofdstad ( BE100 )
Country : Belgium
Contact point : Søren Eberhard
Telephone : +45 70 20 82 93
Roles of this organisation :
Tenderer
Winner of these lots : LOT-0000

8.1 ORG-0005

Official name : Mercell Holding ASA
Registration number : 980921565
Postal address : Askekroken 11
Town : Oslo
Postcode : 0277
Country subdivision (NUTS) : Oslo ( NO081 )
Country : Norway
Contact point : eSender
Telephone : +47 21018800
Fax : +47 21018801
Internet address : http://mercell.com/
Roles of this organisation :
TED eSender

11. Notice information

11.1 Notice information

Notice identifier/version : 1628b5f0-b422-48de-b46f-9db36c304713 - 01
Form type : Direct award preannouncement
Notice type : Voluntary ex-ante transparency notice
Notice dispatch date : 31/10/2024 09:42 +00:00
Notice dispatch date (eSender) : 31/10/2024 10:29 +00:00
Languages in which this notice is officially available : English

11.2 Publication information

Notice publication number : 00667708-2024
OJ S issue number : 214/2024
Publication date : 04/11/2024