Bank of England Bloomberg Terminal Renewal
Summary
The Bank of England has awarded a direct award contract to Bloomberg Finance L.P. for renewal of Bloomberg Terminal licenses covering the period 1 March 2026 to 28 February 2028. The contract value is £5,834,930.59 including VAT (£4,667,944.47 excluding VAT). The procurement was conducted under the Procurement Act 2023 using a direct award justification due to Bloomberg's exclusive intellectual property rights.
What changed
The Bank of England has finalized a contract renewal with Bloomberg Finance L.P. for access to Bloomberg terminals providing real-time financial data, analytics, trading tools, and news. The contract is valued at £5.83 million (inclusive of VAT) for a term of approximately 23 months. The procurement was awarded via direct award procedure under Schedule 5, Paragraph 5 of the Procurement Act 2023, citing Bloomberg's status as the sole supplier of this data due to intellectual property or exclusive rights.
This is a routine government procurement notice and does not impose new regulatory obligations on private entities. No compliance actions are required from market participants. The notice serves as public transparency documentation for the contracted services.
Source document (simplified)
Contract
Renewal of Bloomberg Terminals
- BANK OF ENGLAND UK7: Contract details notice - Procurement Act 2023 - view information about notice types
Notice identifier: 2026/S 000-030045
Procurement identifier (OCID): ocds-h6vhtk-051f8d (view related notices)
Published 31 March 2026, 6:07pm
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Contents
Scope Contract 1. Renewal of Bloomberg Terminals Other information Procedure Supplier Contracting authority
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Description
The Account licenses enable access to Bloomberg terminals that provide real-time access to comprehensive financial data, analytics, trading tools & news.
This is a renewal of these services.
Service Contract
Start - 01/03/2026
End - 28/02/2028
Location is UK
Contract 1. Renewal of Bloomberg Terminals
Supplier
Contract value
- £4,667,944.47 excluding VAT
- £5,834,930.59 including VAT Above the relevant threshold
Date signed
25 February 2026
Contract dates
- 1 March 2026 to 28 February 2028
- 1 year, 11 months, 28 days
Main procurement category
Services
CPV classifications
Data services
Contract locations
- UK - United Kingdom
Justification for not setting key performance indicators
Under PA23, Section 52(2) - There are no suitable indicators within the contract that can be measured against.
Other information
Conflicts assessment prepared/revised
Yes
Procedure
Procedure type
Direct award
Direct award justification
Single supplier - intellectual property or exclusive rights
Under Schedule 5, Paragraph 5, Bloomberg are the only suppliers of this data.
Supplier
BLOOMBERG FINANCE L.P.
- Public Procurement Organisation Number: PHRT-2555-DXMY 731 Lexington Avenue
New York
10022
United States
Email: jwallace142@bloomberg.net
Website: https://www.bloomberg.com/uk
Small or medium-sized enterprise (SME): No
Voluntary, community or social enterprise (VCSE): No
Supported employment provider: No
Public service mutual: No
Contract 1
Contracting authority
BANK OF ENGLAND
- Companies House: RC000042
- Public Procurement Organisation Number: PRDB-1113-HPPT Threadneedle Street
London
EC2R 8AH
United Kingdom
Email: askprocurement@bankofengland.co.uk
Region: UKI31 - Camden and City of London
Organisation type: Public authority - central government
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