PBGC awards $2.98M for securities pricing data services to ICE Data Pricing & Reference Data, LLC

Contract Overview

Contract Amount: $298,467 ($298.5K)

Contractor: ICE Data Pricing & Reference Data, LLC

Awarding Agency: Pension Benefit Guaranty Corporation

Start Date: 2025-01-01

End Date: 2026-12-31

Contract Duration: 729 days

Daily Burn Rate: $409/day

Competition Type: COMPETED UNDER SAP

Number of Offers Received: 1

Pricing Type: FIRM FIXED PRICE

Sector: Other

Official Description: TRUST ACCOUNTING SYSTEM SECURITIES PRICING AND MARKET DATA SERVICES

Place of Performance

Location: WASHINGTON, DISTRICT OF COLUMBIA County, DISTRICT OF COLUMBIA, 20024

State: District of Columbia Government Spending

Plain-Language Summary

Pension Benefit Guaranty Corporation obligated $298,467 to ICE DATA PRICING & REFERENCE DATA, LLC for work described as: TRUST ACCOUNTING SYSTEM SECURITIES PRICING AND MARKET DATA SERVICES Key points: 1. Contract awarded for essential market data services supporting pension fund valuations. 2. Single award suggests limited competition or a specific capability requirement. 3. Fixed-price contract type aims to control costs over the performance period. 4. Performance period of 729 days covers two fiscal years. 5. Contractor has a track record in providing financial data services. 6. Geographic location of awardee is not specified, but agency is in DC.

Value Assessment

Rating: good

The contract value of $2.98 million over two years for securities pricing and market data services appears reasonable given the specialized nature of the data. Benchmarking against similar contracts for financial data feeds is challenging without more specific service level agreements and data scope. However, the fixed-price nature of the contract provides cost certainty for the Pension Benefit Guaranty Corporation (PBGC).

Cost Per Unit: N/A

Competition Analysis

Competition Level: limited

The contract was competed under SAP (Simplified Acquisition Procedures), which typically indicates an expectation of lower value or a streamlined process. The data does not specify the number of bidders, but the 'limited' competition level suggests that either the pool of qualified vendors is small, or the acquisition strategy did not prioritize broad outreach. This could potentially lead to less aggressive pricing compared to a full and open competition.

Taxpayer Impact: A limited competition may result in higher costs for taxpayers if a more competitive process could have secured better pricing or terms.

Public Impact

The Pension Benefit Guaranty Corporation (PBGC) benefits directly by receiving critical data for its operations. Services delivered include securities pricing and market data essential for financial analysis and risk management. The primary geographic impact is within the District of Columbia, where the PBGC is headquartered. No direct workforce implications are immediately apparent from this contract award.

Waste & Efficiency Indicators

Waste Risk Score: 50 / 10

Warning Flags

Potential for higher costs due to limited competition.
Dependence on a single vendor for critical market data.

Positive Signals

Fixed-price contract provides cost predictability.
Award to a known provider of data services.
Contract duration aligns with agency operational needs.

Sector Analysis

This contract falls within the broader Information Technology and Data Services sector, specifically focusing on financial data provision. The market for financial data services is dominated by a few large players, and specialized data like securities pricing is crucial for financial institutions and government agencies involved in market oversight or asset management. The contract value is relatively small within the context of large enterprise data service contracts.

Small Business Impact

The contract was competed under SAP, and there is no indication of a small business set-aside. Given the specialized nature of financial data services, it is likely that larger, established firms are the primary providers. Subcontracting opportunities for small businesses are not specified but are unlikely to be significant for this type of data service.

Oversight & Accountability

Oversight will be managed by the Pension Benefit Guaranty Corporation's contracting and program officials. As a definitive contract, it is subject to standard federal procurement regulations and oversight. Transparency is generally maintained through contract databases like FPDS. The Inspector General for the PBGC would have jurisdiction over any potential fraud, waste, or abuse related to this contract.

Related Government Programs

Financial Data Services
Market Data Providers
Securities Information Systems
Pension Fund Management Support

Risk Flags

Limited competition may impact price.
Dependence on a single vendor for critical data.

Frequently Asked Questions

What is this federal contract paying for?

Pension Benefit Guaranty Corporation awarded $298,467 to ICE DATA PRICING & REFERENCE DATA, LLC. TRUST ACCOUNTING SYSTEM SECURITIES PRICING AND MARKET DATA SERVICES

Who is the contractor on this award?

The obligated recipient is ICE DATA PRICING & REFERENCE DATA, LLC.

Which agency awarded this contract?

Awarding agency: Pension Benefit Guaranty Corporation (Pension Benefit Guaranty Corporation).

What is the total obligated amount?

The obligated amount is $298,467.

What is the period of performance?

Start: 2025-01-01. End: 2026-12-31.

What is the historical spending pattern of the Pension Benefit Guaranty Corporation on securities pricing and market data services?

Historical spending data for the Pension Benefit Guaranty Corporation (PBGC) on securities pricing and market data services prior to this award is not detailed in the provided information. However, the agency's mission involves managing and insuring defined benefit pension plans, which inherently requires access to accurate market data for asset valuation and risk assessment. It is reasonable to assume that the PBGC has consistently procured such services, likely through various contracts over time, to support its core functions. The current award of $2.98 million over two years suggests a sustained need for these services. Further analysis would require examining historical contract awards for similar services to identify trends in spending, vendor relationships, and contract values.

How does the awarded price of $2.98 million compare to similar contracts for market data services?

Directly comparing the $2.98 million award to similar contracts is challenging without knowing the specific scope, data feeds, and service levels included. ICE Data Pricing & Reference Data, LLC is a known provider in this space. Contracts for market data can vary significantly in price based on the breadth of data (e.g., real-time vs. delayed, specific asset classes, global coverage), the number of users, and the contractual terms. For large financial institutions, annual spending on market data can run into tens or hundreds of millions of dollars. For a government agency like the PBGC, the requirement might be more focused. The fixed-price nature of this contract provides cost certainty, but a true value-for-money assessment would require benchmarking against other government or private sector contracts with identical or highly comparable service specifications.

What are the potential risks associated with relying on ICE Data Pricing & Reference Data, LLC for critical market data?

Potential risks associated with relying on ICE Data Pricing & Reference Data, LLC include vendor lock-in, data accuracy and timeliness issues, and potential price increases in future contract renewals. If ICE Data is the sole or primary provider of specific critical data, the PBGC could face challenges if the vendor experiences service disruptions or decides to significantly increase prices. Data accuracy is paramount for financial analysis, and any errors could lead to flawed valuations or risk assessments. Furthermore, the market for financial data is dynamic, and ensuring the vendor keeps pace with evolving data needs and technological advancements is crucial. Mitigation strategies could involve establishing clear service level agreements (SLAs) with penalties, maintaining contingency plans, and periodically exploring alternative data sources.

What is the track record of ICE Data Pricing & Reference Data, LLC in serving federal government clients?

ICE Data Pricing & Reference Data, LLC, as part of Intercontinental Exchange (ICE), has a significant presence in the financial data market and serves numerous clients, including financial institutions and potentially government entities. While specific details of their federal government contract history are not provided in this data snippet, ICE is a major player in providing benchmark rates, pricing data, and reference data globally. Their experience suggests a capability to meet the rigorous demands of government agencies. A deeper dive into federal procurement databases (like FPDS) would reveal the extent and nature of their past federal contracts, including performance history and client satisfaction, which would offer a more comprehensive view of their track record with government clients.

How does this contract contribute to the Pension Benefit Guaranty Corporation's mission effectiveness?

This contract is directly instrumental to the Pension Benefit Guaranty Corporation's (PBGC) mission effectiveness. The PBGC's primary role is to protect the retirement income of millions of Americans in private-sector defined benefit pension plans. To fulfill this, the agency must accurately assess the financial health of these plans, estimate potential liabilities, and manage assets. Securities pricing and market data services are fundamental inputs for these calculations. Reliable and timely data allows the PBGC to perform accurate valuations, identify underfunded plans, manage its investment portfolio effectively, and make informed decisions during plan terminations or restructurings. Without this data, the PBGC's ability to safeguard pension benefits would be severely compromised.

Industry Classification

NAICS: Information › Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services › Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services

Product/Service Code: SUPPORT SVCS (PROF, ADMIN, MGMT) › MANAGEMENT SUPPORT SERVICES

Competition & Pricing

Extent Competed: COMPETED UNDER SAP

Solicitation Procedures: SIMPLIFIED ACQUISITION

Offers Received: 1

Pricing Type: FIRM FIXED PRICE (J)

Evaluated Preference: NONE

Contractor Details

Address: 5660 NEW NORTHSIDE DR FL 3, ATLANTA, GA, 30328

Business Categories: Category Business, Corporate Entity Not Tax Exempt, Not Designated a Small Business, Special Designations, U.S.-Owned Business

Financial Breakdown

Contract Ceiling: $792,456

Exercised Options: $298,467

Current Obligation: $298,467

Actual Outlays: $150,134

Contract Characteristics

Commercial Item: COMMERCIAL PRODUCTS/SERVICES

Cost or Pricing Data: NO

Timeline