THE FINANCE AND ADMINISTRATIVE SERVICES DEPARTMENT AND THE PURCHASING DIVISION RECOMMEND APPROVAL OF THE ABOVE MOTION.
The purpose of this action is to approve Bloomberg Limited Partnership (Bloomberg) as a sole source/sole brand standardization in excess of five years to the Board. Staff from the Finance and Administrative Services Department and the Purchasing Division conducted an extensive product review and market research to determine if there were any other vendors that could supply a product that integrates all the necessary services under a single platform while allowing the County to effectively manage its investment portfolio. Based on these findings, Bloomberg remains the only reasonable source and brand that continues to meet the County's needs.
Our research showed that Bloomberg is the only service provider that offers transparent trade execution, market pricing, inventory, analytics, research, and communication with the investment community in a broker-neutral portal. Bloomberg integrates all these services under a single platform and is the standard for participants in the financial markets, especially for fixed-income users. No other competitor provides a product that is as widely used or accepted among fixed-income traders. This product is currently used by over 310,000 financial professionals worldwide. In addition, Bloomberg is unique in offering analytics such as Value-at-Risk, Yield Curve Comparisons, and Shock Analysis in the same package.
|