NOAA's $283K Bloomberg Terminal Subscription for OCFO Faces Scrutiny for Limited Competition

Contract Overview

Contract Amount: $28,320 ($28.3K)

Contractor: Bloomberg Finance LP

Awarding Agency: Department of Commerce

Start Date: 2026-03-04

End Date: 2027-03-31

Contract Duration: 392 days

Daily Burn Rate: $72/day

Competition Type: NOT COMPETED UNDER SAP

Pricing Type: FIRM FIXED PRICE

Sector: Other

Official Description: SINGLE SUBSCRIPTION - BLOOMBERG (SHARED) TERMINAL FOR NOAA OCFO

Place of Performance

Location: WASHINGTON, DISTRICT OF COLUMBIA County, DISTRICT OF COLUMBIA, 20230

State: District of Columbia Government Spending

Plain-Language Summary

Department of Commerce obligated $28,320 to BLOOMBERG FINANCE LP for work described as: SINGLE SUBSCRIPTION - BLOOMBERG (SHARED) TERMINAL FOR NOAA OCFO Key points: 1. Value for money is questionable given the lack of competitive bidding for this essential financial data service. 2. Competition dynamics are heavily skewed towards a sole-source provider, potentially inflating costs. 3. Risk indicators include a lack of transparency in pricing and limited options for alternative data sources. 4. Performance context suggests a critical reliance on real-time financial data for NOAA's OCFO operations. 5. Sector positioning places this contract within the 'Other Computer Related Services' category, highlighting the need for specialized data tools.

Value Assessment

Rating: questionable

The contract value of $283,200 for a single Bloomberg Terminal subscription appears high without a competitive benchmark. Bloomberg terminals are known for their premium pricing, and the lack of competition makes it difficult to assess if NOAA received a fair market price. Similar government agencies often procure such data services through aggregated contracts or competitive processes to leverage economies of scale and ensure better value. Without comparative data from other similar subscriptions or bids, the value proposition remains uncertain.

Cost Per Unit: N/A

Competition Analysis

Competition Level: sole-source

This contract was not competed under the Simplified Acquisition Procedures (SAP) and was awarded as a sole-source procurement to Bloomberg Finance LP. The justification for sole-source awards typically involves unique capabilities or lack of alternatives. In this case, the exclusive nature of the Bloomberg Terminal's integrated financial data and analytics platform likely led to this determination. The limited competition means that NOAA did not benefit from price discovery through multiple bids, potentially leading to a higher cost than if the contract had been open to other providers.

Taxpayer Impact: Taxpayers may be paying a premium for this essential financial data due to the absence of competitive pressure. The sole-source nature limits the government's ability to negotiate lower prices or explore more cost-effective alternatives.

Public Impact

The Office of the Chief Financial Officer (OCFO) at NOAA benefits directly from this subscription, gaining access to critical financial market data. The service delivered is real-time financial information, analytics, and trading tools essential for financial decision-making and risk management. The geographic impact is primarily within the District of Columbia, where the OCFO is located. Workforce implications include enabling financial analysts and decision-makers within the OCFO to perform their duties effectively.

Waste & Efficiency Indicators

Waste Risk Score: 50 / 10

Warning Flags

Lack of competitive bidding may result in overpayment for the service.
Sole-source award limits exploration of potentially more cost-effective data solutions.
Dependence on a single vendor for critical financial data poses a potential risk if service is interrupted.

Positive Signals

Bloomberg Terminal provides comprehensive and integrated financial data crucial for informed decision-making.
The subscription supports the essential functions of NOAA's OCFO, ensuring operational continuity.
The contract duration provides a stable period for accessing vital financial intelligence.

Sector Analysis

The market for financial data terminals and analytics platforms is dominated by a few key players, with Bloomberg being a prominent one. These platforms provide essential tools for financial professionals across various sectors, including government, for market analysis, trading, and risk management. The cost of such terminals is typically high, reflecting the extensive data coverage, analytical capabilities, and proprietary technology. Government agencies often procure these services, but competitive sourcing or participation in larger enterprise agreements can help mitigate costs. This contract falls within the broader IT services sector, specifically focusing on specialized data and analytics.

Small Business Impact

This contract does not appear to involve any small business set-asides or subcontracting opportunities. The nature of the service, a specialized financial data terminal, is typically provided by large, established firms. There is no indication of efforts to engage small businesses in the provision or support of this specific Bloomberg Terminal service.

Oversight & Accountability

Oversight for this contract would primarily fall under the Department of Commerce's Office of the Chief Financial Officer and the relevant contracting officers within NOAA. Transparency is limited due to the sole-source nature of the award. Accountability measures would be tied to the terms of the firm-fixed-price contract and the delivery of the specified service. There is no explicit mention of Inspector General jurisdiction for this specific delivery order, but the IG's office generally has oversight over all departmental spending.

Related Government Programs

Financial Data Services
Market Intelligence Platforms
Government Financial Management Systems
IT Services for Federal Agencies

Risk Flags

Sole-source award
High per-unit cost potential
Lack of competitive benchmarking
Critical service dependency

Frequently Asked Questions

What is this federal contract paying for?

Department of Commerce awarded $28,320 to BLOOMBERG FINANCE LP. SINGLE SUBSCRIPTION - BLOOMBERG (SHARED) TERMINAL FOR NOAA OCFO

Who is the contractor on this award?

The obligated recipient is BLOOMBERG FINANCE LP.

Which agency awarded this contract?

Awarding agency: Department of Commerce (Office of the Secretary).

What is the total obligated amount?

The obligated amount is $28,320.

What is the period of performance?

Start: 2026-03-04. End: 2027-03-31.

What is the track record of Bloomberg Finance LP in providing similar services to other federal agencies?

Bloomberg Finance LP has a long-standing history of providing its financial data terminals and services to numerous federal agencies, including entities within the Department of Treasury, the Federal Reserve, and other financial oversight bodies. These terminals are widely recognized as industry standards for accessing real-time market data, news, analytics, and trading tools. Agencies often procure these services for their economic analysis, financial risk management, and investment monitoring functions. While specific contract details are often proprietary or aggregated, Bloomberg's presence in the federal market is significant, indicating a mature understanding of government procurement processes and requirements. However, the nature of these procurements often leans towards sole-source or limited competition due to the specialized and integrated platform offered.

How does the cost of this Bloomberg Terminal subscription compare to market rates for similar services, considering it's a sole-source award?

Benchmarking the cost of a sole-source Bloomberg Terminal subscription is challenging due to the lack of direct competitive bids. Bloomberg terminals are premium products, and their pricing is often opaque and subject to negotiation based on the number of terminals, user types, and specific data packages. Market rates can vary significantly, but generally, a single terminal subscription can range from tens of thousands to over $30,000 annually, depending on the configuration. Given the $283,200 contract value over approximately 1.5 years (ending March 2027), the annual cost is roughly $188,800. This figure appears exceptionally high for a single terminal, suggesting potential for significant overpayment or that the subscription includes extensive data sets, multiple user access, or advanced analytical tools beyond a standard terminal. Without a competitive process, it's difficult to ascertain if NOAA received optimal value.

What are the primary risks associated with relying on a sole-source provider for critical financial data?

Relying on a sole-source provider like Bloomberg for critical financial data presents several risks. Firstly, there is a significant risk of price inflation, as the absence of competition removes the incentive for the vendor to offer competitive pricing. NOAA is essentially accepting Bloomberg's terms without the leverage of alternative bids. Secondly, there's a dependency risk; if Bloomberg experiences service disruptions, technical issues, or changes its service offerings unfavorably, NOAA has limited immediate recourse or alternative solutions. This vendor lock-in can also stifle innovation, as NOAA may not explore or adopt potentially newer, more cost-effective, or specialized solutions from other providers. Finally, the lack of transparency in pricing and contract terms associated with sole-source awards can obscure the true value for money and make oversight more difficult.

What is the expected effectiveness of this Bloomberg Terminal subscription in supporting NOAA's OCFO operations?

The Bloomberg Terminal is expected to be highly effective in supporting NOAA's Office of the Chief Financial Officer (OCFO) operations. These terminals provide comprehensive, real-time financial market data, news, and analytical tools that are crucial for informed financial decision-making, risk management, and economic forecasting. For an OCFO, this includes monitoring market trends, assessing financial risks, managing investments, and ensuring compliance with financial regulations. The integrated nature of the platform allows for efficient data analysis and reporting, which are vital for government financial stewardship. The subscription's duration (through March 2027) ensures continuity of these essential services, enabling the OCFO to maintain its operational effectiveness in a dynamic financial environment.

How does this contract's value compare to historical spending on similar financial data services by NOAA or other federal entities?

Comparing this contract's value requires context on historical spending for similar financial data services. While specific historical data for NOAA's Bloomberg subscriptions isn't readily available in the provided data, federal agencies frequently procure financial data services. For instance, the U.S. Treasury or the Federal Reserve might spend millions annually on comprehensive data platforms. However, the $188,800 annual cost implied by this $283,200 contract (for ~1.5 years) appears high for what is described as a 'single subscription' and awarded via sole-source. Typically, larger agencies might negotiate enterprise-level agreements that offer lower per-unit costs through volume discounts. If this is indeed for a single user or a limited group, the cost is significantly above standard market rates for individual terminals, raising questions about value compared to potential historical spending on more competitively sourced or aggregated data solutions.

Industry Classification

NAICS: Professional, Scientific, and Technical Services › Computer Systems Design and Related Services › Other Computer Related Services

Product/Service Code: SPECIAL STUDIES/ANALYSIS, NOT R&D › SPECIAL STUDIES - NOT R and D

Competition & Pricing

Extent Competed: NOT COMPETED UNDER SAP

Solicitation Procedures: SIMPLIFIED ACQUISITION

Pricing Type: FIRM FIXED PRICE (J)

Evaluated Preference: NONE

Contractor Details

Address: 731 LEXINGTON AVE, NEW YORK, NY, 10022

Business Categories: Category Business, Not Designated a Small Business, Partnership or Limited Liability Partnership, Special Designations, U.S.-Owned Business

Financial Breakdown

Contract Ceiling: $28,320

Exercised Options: $28,320

Current Obligation: $28,320

Contract Characteristics

Commercial Item: COMMERCIAL PRODUCTS/SERVICES

Cost or Pricing Data: NO

Parent Contract

Parent Award PIID: 1331L523D13OS0001

IDV Type: IDC

Timeline