Contract award notice - Depotbank

Description du marché

Arbejdsmarkedets Tillægspension has entered 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. The estimated total value of the contract including all optional elements end potential extensions is 120,000,000.00 DKK excluding VAT.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 has entered 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 a voluntary ex-ante transparency notice. The standstill period expired on 11 November 2024.

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