Bloomberg Financial Markets Sole Source

Background

The Illinois Housing Development Authority (IHDA) is a body politic and corporate of the State created in 1967 for the purpose of financing decent, safe, and sanitary housing for persons and families of low and moderate income. The Authority requires Bloomberg Financial Markets to manage investments, execute trades, and monitor financial transactions in compliance with Generally Accepted Accounting Principles (GAAP) and Governmental Accounting Standards Board (GASB). Bloomberg is a proprietary system that provides essential tools for investment management.

Work Details

The contract involves providing access to Bloomberg Financial Markets, which includes services such as: - Conducting financial transactions - Buying and selling securities - Accessing real-time pricing - Performing electronic TBA executions - Pricing investment portfolios - Creating trade tickets - Determining prepayment speeds on investment vehicles - Providing cash flow and yield analysis - Tracking LIBOR and US Treasury rates - Monitoring additional industry benchmarks for evaluation - Pricing bonds - Managing the Authority's liability and debt instruments. All maintenance of the software will be handled directly by Bloomberg.

Period of Performance

The estimated contract will begin on July 1, 2026, and end on June 30, 2028.

Place of Performance

The services will be performed at the Illinois Housing Development Authority's facilities.

Bidder Requirements

This is a sole source contract with Bloomberg Finance LP due to its proprietary nature. No alternative providers can meet the full scope of IHDA's needs. The purchase is economically only available from this single source as the items are copyrighted or patented.