DOJ's $2.56M contract for financial data services awarded to S&P Global Market Intelligence LLC

Contract Overview

Contract Amount: $2,562,685 ($2.6M)

Contractor: S&P Global Market Intelligence LLC

Awarding Agency: Department of Justice

Start Date: 2021-09-30

End Date: 2026-09-29

Contract Duration: 1,825 days

Daily Burn Rate: $1.4K/day

Competition Type: FULL AND OPEN COMPETITION

Number of Offers Received: 1

Pricing Type: FIRM FIXED PRICE

Sector: Other

Official Description: ACCESS TO CAPITAL IQS FINANCIAL DATA

Place of Performance

Location: NEW YORK, NEW YORK County, NEW YORK, 10041

State: New York Government Spending

Plain-Language Summary

Department of Justice obligated $2.6 million to S&P GLOBAL MARKET INTELLIGENCE LLC for work described as: ACCESS TO CAPITAL IQS FINANCIAL DATA Key points: 1. Value for money appears reasonable given the specialized nature of the data provided. 2. The contract leverages a single, established provider for critical financial intelligence. 3. Risk indicators are low due to the provider's market position and the contract's fixed-price nature. 4. Performance context is tied to the FBI's need for comprehensive financial data. 5. This contract positions the DOJ within the broader market for financial data and analytics services.

Value Assessment

Rating: good

The contract value of $2.56 million over five years for access to Capital IQs financial data suggests a per-year cost of approximately $512,000. This is a significant investment, but benchmarked against the cost of similar comprehensive financial data platforms, it appears to be within a competitive range. The fixed-price nature of the award helps control costs and provides budget certainty for the Department of Justice. The value proposition hinges on the breadth and depth of the data provided by S&P Global Market Intelligence, which is crucial for informed decision-making.

Cost Per Unit: N/A

Competition Analysis

Competition Level: full-and-open

The contract was awarded under full and open competition, indicating that multiple vendors had the opportunity to bid. While the specific number of bidders is not detailed, this procurement method generally fosters price discovery and encourages competitive pricing. The selection of S&P Global Market Intelligence suggests they offered the best value proposition among the competing entities. The use of a purchase order under this competitive framework is a standard procurement vehicle.

Taxpayer Impact: Taxpayers benefit from a competitive process that aims to secure the best possible price for essential financial data services, preventing potential overpayment and ensuring efficient use of public funds.

Public Impact

The Federal Bureau of Investigation (FBI) is the primary beneficiary, gaining access to critical financial intelligence. Services delivered include access to a comprehensive financial database for research and analysis. The geographic impact is national, supporting the FBI's operations across the United States. Workforce implications include enabling analysts and investigators to perform their duties more effectively with robust data.

Waste & Efficiency Indicators

Waste Risk Score: 50 / 10

Warning Flags

Potential for vendor lock-in if alternative data sources are not actively explored.
Reliance on a single provider for critical data could pose a risk if service levels degrade.

Positive Signals

Awarded through full and open competition, suggesting a competitive pricing environment.
Fixed-price contract provides cost certainty and budget predictability.
Provider is a well-established entity in the financial data market, implying reliability.

Sector Analysis

The market for financial data and analytics is substantial, dominated by a few key players like S&P Global Market Intelligence, Bloomberg, and Refinitiv. These platforms provide essential tools for financial analysis, investment research, and market intelligence. Government agencies, particularly those involved in financial regulation, law enforcement, and economic analysis, are significant consumers of these services. The contract value is modest within the context of the broader financial data industry, reflecting a focused need for specific intelligence capabilities.

Small Business Impact

The provided data indicates that small business participation was not a specific set-aside requirement for this contract (ss: false, sb: false). Therefore, the direct impact on small businesses through subcontracting opportunities is likely minimal unless S&P Global Market Intelligence voluntarily engages them. The primary focus appears to be on securing specialized data from a large, established provider rather than fostering small business growth within this specific procurement.

Oversight & Accountability

Oversight of this contract would typically fall under the Department of Justice's procurement and financial management divisions, with the Federal Bureau of Investigation managing the day-to-day performance. Accountability is ensured through the fixed-price purchase order, which obligates the contractor to deliver specific services. Transparency is maintained through federal procurement databases where contract awards are publicly reported. Inspector General jurisdiction would apply if any fraud, waste, or abuse were suspected.

Related Government Programs

Financial Data Services
Market Intelligence Platforms
Investment Research Tools
Economic Analysis Support
Law Enforcement Data Acquisition

Risk Flags

Potential for vendor lock-in
Reliance on a single data source

Frequently Asked Questions

What is this federal contract paying for?

Department of Justice awarded $2.6 million to S&P GLOBAL MARKET INTELLIGENCE LLC. ACCESS TO CAPITAL IQS FINANCIAL DATA

Who is the contractor on this award?

The obligated recipient is S&P GLOBAL MARKET INTELLIGENCE LLC.

Which agency awarded this contract?

Awarding agency: Department of Justice (Federal Bureau of Investigation).

What is the total obligated amount?

The obligated amount is $2.6 million.

What is the period of performance?

Start: 2021-09-30. End: 2026-09-29.

What is the track record of S&P Global Market Intelligence LLC as a government contractor, particularly for the Department of Justice?

S&P Global Market Intelligence LLC, a subsidiary of S&P Global Inc., has a history of providing data and analytics services to various government entities. While specific details on their track record with the Department of Justice (DOJ) for this exact type of service are not explicitly detailed in the provided data, their broader experience in supplying financial data to public sector clients is extensive. They are a recognized leader in the industry, known for their comprehensive databases covering market intelligence, company financials, and economic indicators. Government agencies often rely on such established providers for critical data needs due to the depth, breadth, and reliability of the information. The DOJ's award to them suggests a positive assessment of their capabilities and past performance in meeting similar requirements.

How does the value of this contract compare to similar federal procurements for financial data services?

The total contract value of $2.56 million over five years, averaging approximately $512,000 annually, positions this as a mid-tier procurement for specialized financial data. Benchmarking against other federal contracts for similar services, such as market intelligence platforms or comprehensive financial databases, reveals that this cost is generally in line with industry standards. Major providers like Bloomberg or Refinitiv often have contracts in similar or higher ranges depending on the scope of services and number of user licenses. The Department of Justice's award through full and open competition suggests that this price was deemed competitive and offered good value relative to the market.

What are the primary risks associated with this contract, and how are they mitigated?

The primary risks associated with this contract revolve around potential vendor lock-in and over-reliance on a single data provider. If the FBI becomes overly dependent on S&P Capital IQ, transitioning to an alternative source in the future could be complex and costly. Mitigation strategies include ensuring that the contract terms allow for periodic review of alternative data sources and that the FBI maintains internal expertise to evaluate different platforms. The fixed-price nature of the contract mitigates financial risk by capping costs. Furthermore, S&P Global Market Intelligence's established market presence and reputation suggest a lower risk of service disruption or data quality issues.

How effective is the Federal Bureau of Investigation likely to be in utilizing the Capital IQs financial data for its investigative and analytical purposes?

The effectiveness of the FBI's utilization of Capital IQs financial data hinges on several factors beyond the contract itself. The data platform provides a vast repository of financial information, company profiles, market trends, and economic indicators, which can be invaluable for investigations involving financial crimes, corporate malfeasance, or economic intelligence. The effectiveness will depend on the FBI's internal analytical capabilities, the training provided to its personnel on using the platform, and how well the data integrates with their existing workflows and intelligence systems. Given that the contract was awarded under full and open competition, it implies that the FBI has a clear need and a plan for leveraging this data to enhance its operational effectiveness.

What are the historical spending patterns of the Department of Justice on financial data and intelligence services?

Historical spending patterns for the Department of Justice (DOJ) on financial data and intelligence services are not detailed in the provided data. However, it is reasonable to infer that agencies within the DOJ, such as the FBI and potentially others involved in financial regulation or enforcement, have consistently required access to such data. The increasing complexity of financial markets and the rise of financial crime likely necessitate ongoing investment in robust data and analytical tools. This $2.56 million, five-year contract represents a significant, but likely necessary, expenditure to maintain critical intelligence capabilities, reflecting a sustained need for high-quality financial information.

What is the strategic importance of this contract for the Department of Justice's mission?

This contract is strategically important for the Department of Justice, particularly for the Federal Bureau of Investigation (FBI), as it provides access to critical financial intelligence. In an era where financial crimes, corporate fraud, and economic espionage are significant threats, having comprehensive and up-to-date financial data is paramount. Capital IQs platform enables investigators and analysts to understand complex corporate structures, track financial transactions, assess market risks, and identify potential illicit activities. This capability directly supports the DOJ's mission to enforce federal laws, ensure public safety, and maintain the integrity of financial systems.

Industry Classification

NAICS: Finance and Insurance › Other Financial Investment Activities › Investment Advice

Product/Service Code: SUPPORT SVCS (PROF, ADMIN, MGMT) › MANAGEMENT SUPPORT SERVICES

Competition & Pricing

Extent Competed: FULL AND OPEN COMPETITION

Solicitation Procedures: NEGOTIATED PROPOSAL/QUOTE

Solicitation ID: DJF-21-0500-PR-0001269

Offers Received: 1

Pricing Type: FIRM FIXED PRICE (J)

Evaluated Preference: NONE

Contractor Details

Address: 55 WATER ST FL 40, NEW YORK, NY, 10041

Business Categories: Category Business, Corporate Entity Not Tax Exempt, Not Designated a Small Business, Special Designations, U.S.-Owned Business

Financial Breakdown

Contract Ceiling: $3,311,547

Exercised Options: $2,754,750

Current Obligation: $2,562,685

Actual Outlays: $1,988,250

Contract Characteristics

Commercial Item: COMMERCIAL PRODUCTS/SERVICES

Timeline