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Ireland - Financial transaction processing and clearing-house services - ENQEIR977 - FASS Credit Management Services

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Summary

Machine-generated summary

EirGrid and SONI, the transmission system operators (TSOs) in Ireland, are procuring third-party credit management services under the FASS Programme (Future Arrangements for System Services). The provider will assume and manage the TSOs' credit risk, ensuring all FASS markets are fully collateralised. The primary service covers credit management for DASSA (Day Ahead System Services Auction) secondary trading; a secondary element is managing a fixed amount of collateral for providers covering other FASS market aspects. Automated system-to-system interfaces are required. The tender value reflects only the amount payable by EirGrid and SONI, with operational costs expected to be recovered from market participants. Further details are in the 'FASS PQQ and Information Memorandum' procurement documents.

Description

The TSOs are developing competitive market arrangements for system services under the FASS Programme (Future Arrangements for System Services). The TSOs require that all markets under FASS are fully collateralised. To accomplish this the TSOs require credit management services to be provided by a third party, who will assume and manage the credit risk to the TSOs, including the implementation of automated system-to-system interfaces to enable this service. (1) The primary service required by the TSOs is credit management for DASSA (Day Ahead System Services Auction) secondary trading. (2) A secondary element of the service is the management of a fixed amount of collateral for providers to cover other aspects of the FASS markets including but not limited to any performance related payments due to the TSOs (e.g. DASSA compensation payments) and resettlement. Full information relating to our requirement can be found in the accompanying procurement documents 'FASS PQQ and Information Memorandum'. Please note that the value of this tender reflects the amount expected to be paid by EirGrid and SONI for this implementation and maintenance of this service. The TSOs expect that the operational costs for providing this service will be recovered from market participants, reflecting the cost to the tenderer to manage market participants’ credit cover. As such, the value of the tender reflects only the portion of the total value payable by EirGrid and SONI to the tenderer. The TSOs are developing competitive market arrangements for system services under the FASS Programme (Future Arrangements for System Services). The TSOs require that all markets under FASS are fully collateralised. To accomplish this the TSOs require credit management services to be provided by a third party, who will assume and manage the credit risk to the TSOs, including the implementation of automated system-to-system interfaces to enable this service. • The primary service required by the TSOs is credit management for DASSA (Day Ahead System Services Auction) secondary trading. • A secondary element of the service is the management of a fixed amount of collateral for providers to cover other aspects of the FASS markets including but not limited to any performance related payments due to the TSOs (e.g. DASSA compensation payments) and resettlement. Please note that the value of this tender reflects the amount expected to be paid by EirGrid and SONI for this implementation and maintenance of this service. The TSOs expect that the operational costs for providing this service will be recovered from market participants, reflecting the cost to the tenderer to manage market participants’ credit cover. As such, the value of the tender reflects only the portion of the total value payable by EirGrid and SONI to the tenderer.

Official source

Source: TED - Tenders Electronic Daily (Publications Office of the EU)

Always verify details on the official notice.

Last verified against TED - Tenders Electronic Daily (Publications Office of the EU) 1 month ago

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More from this buyer

Full buyer profile

6 open tenders right now

This buyer has no award history in this sector yet. Usual winners, Financial & insurance services - Ireland

Company Wins Total awarded Last win
Crowleys DFK 49 €12.9M Jun 2026
Forvis Mazars 42 €8.6M Apr 2026
Deloitte Ireland LLP 21 €5.4M Apr 2026
Crowe 16 €2.2M Jun 2026
Marsh Ireland Brokers Limited 13 €42.5M Aug 2026

Based on 298 awards with a linked company profile over the last 2 years.

Change history

Every time an official source republished this notice with different content. We watch every source we index, including regional copies of the same notice.

  1. Read before bidding
    • Estimated value: Set to €1,071,453
    • Scope and criteria: The description was expanded. Re-read it before you bid.
    • Estimated value: Set to €1,071,453

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Market context

Avg. open tender · Financial & insurance services
€14,814,348
2,949 open across Europe right now 93% below sector average
Buyer track record on Aperlena
157 notices tracked · 118 awarded
€329,292,586 in awarded contracts

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