Design, Supply and Installation of Electronic Trading Platform and Broker Back Office System for the Ethiopian Securities Exchange and Multi-asset Market Surveillance System for the Ethiopian Capital Market Authority
Source: World Bank — Ethiopia: SME Finance Project
Request for Proposal
Information Systems
(Design, Supply and Installation)
(Without Prequalification)
Purchaser: Ethiopian Enterprise Development (EED)
Project: Small and Medium Enterprises Finance Project (SMEFP)
Contract title: Design, Supply and Installation of Electronic Trading Platform and Broker Back Office System for the Ethiopian Securities Exchange and Multi-asset Market Surveillance System for the Ethiopian Capital Market Authority
Country: The Federal Democratic Republic of Ethiopia
Credit No.: IDA-68640
RFP No: ET-MOI-384983-GO-RFP
Issued on: December 2023
1. The Federal Democratic Republic of Ethiopia has received financing from the World Bank toward the cost of the Small and Medium Enterprises Finance Project (SMEFP) and intends to apply part of the proceeds toward payments under the contracts for Design, Supply and Installation of Electronic Trading Platform and Broker Back Office System for the Ethiopian Securities Exchange and Multi-asset Market Surveillance System for the Ethiopian Capital Market Authority.
2. The Ethiopian Enterprise Development (EED) now invites sealed Proposals from eligible Proposers for Design, Supply and Installation of Electronic Trading Platform and Broker Back Office System for the Ethiopian Securities Exchange and Multi-asset Market Surveillance System for the Ethiopian Capital Market Authority which intended to be delivered in three separate lots shown below:
Lot 1: Design, Supply and Installation of Electronic Trading Platform – an electronic multi-asset trading platform that supports multiple markets, to be installed and delivered in Addis Ababa, for Ethiopian Securities Exchange (ESX). The implementation period spans Sixteen (16) months, with a modular deployment approach that ensures the core trading platform becomes operational within the first five (5) months of the project's commencement. Proposers are required to meet the following criteria: -
Item/ No. | Qualification Criteria | Minimum Requirement |
1 | Average Annual Turnover for the Last Five Years | USD 3.0 Million or equivalent |
2 | Liquid Asset/ Cashflow Requirement | USD 0.5 Million or equivalent |
3 | General Experience | Proposers shall demonstrate experience in Information System contracts in the role of prime supplier, management contractor, JV member, or subcontractor for at least the last five [5] years prior to the applications submission deadline. |
4 | Specific Project Experience
| Participation as a prime supplier, management contractor, JV member, sub-contractor, in at least two (2) contracts within the last ten (10) years, each with a value of at least USD 1.6 Million, that have been successfully and substantially completed and have similar level of scope and complexity as the proposed trading system, and the said systems should be under operation for at least twelve (12) months. |
Lot 2: Design, Supply and Installation of Broker Back Office System – A broker back-office system that automates the core activities of brokerage service providers for trading on electronic platforms. It will be deployed for Ethiopian Securities Exchange (ESX), with an implementation timeline of Twelve (12) months in Addis Ababa, Ethiopia. Proposers are required to meet the following criteria: -
Item/ No. | Qualification Criteria | Minimum Requirement |
1 | Average Annual Turnover for the Last Five Years | USD 1.0 Million or equivalent |
2 | Liquid Asset/ Cashflow Requirement | USD 0.15 Million or equivalent |
3 | General Experience | Proposers shall demonstrate experience in Information System contracts in the role of prime supplier, management contractor, JV member, or subcontractor for at least the last five [5] years prior to the applications submission deadline. |
4 | Specific Project Experience
| Participation as a prime supplier, management contractor, JV member, sub-contractor, in at least two (2) contracts within the last five (5) years, each with a value of at least USD 0.4 Million, that have been successfully and substantially completed and have similar level of scope and complexity as the proposed Broke Back Office system, and the said systems should be under operation for at least twelve (12) months. |
Lot 3: Design, Supply and Installation of Multi-asset Market Surveillance System – A multi-asset market monitoring and surveillance system designed to facilitate the prevention and investigation of abusive, manipulative, or illegal trading practices in the securities markets. It will be deployed for the Ethiopian Capital Market Authority (ECMA), with an implementation timeline of Eleven (11) months in Addis Ababa, Ethiopia. Proposers are required to meet the following criteria: -
Item/ No. | Qualification Criteria | Minimum Requirement |
1 | Average Annual Turnover for the Last Five Years | USD 2.0 Million or equivalent |
2 | Liquid Asset/ Cashflow Requirement | USD 0.35 Million or equivalent |
3 | General Experience | Proposers shall demonstrate experience in Information System contracts in the role of prime supplier, management contractor, JV member, or subcontractor for at least the last five [5] years prior to the applications submission deadline. |
4 | Specific Project Experience
| Participation as a prime supplier, management contractor, JV member, sub-contractor, in at least two (2) contracts within the last ten (10) years, of which at least one is for a capital market regulator, each with a value of at least USD 0.8 Million, that have been successfully and substantially completed and have similar level of scope and complexity as the proposed trading system and the said surveillance systems are under operation for at least twelve (12) months. |
The Purchaser’s evaluation of responsive Proposals for each lot will take into account the following technical factors, in addition to cost factors.
Technical Factor | Weight in Percentage (100%) |
Proposal to Functional Requirements | 35% |
Proposal to Non-Functional Requirements | 25% |
Experience Record | 14% |
Key Staff Qualification (Proposed Manpower) | 14% |
Understanding of the Work, Work Plan & Method Statement | 12% |
The weight to be assigned for the technical factors is 50% and cost is 50%.
3. The procurement process will be conducted through international competitive procurement using Request for Proposals (RFP) as specified in the World Bank’s “Procurement Regulations for IPF Borrowers” Procurement in Investment Project Financing, Goods, Works, Non-consulting and Consulting Services’, Fifth Edition, September 2023 (“Procurement Regulations”), and is open to all eligible Proposers as defined in the Procurement Regulations.
4. Interested eligible Proposers may obtain further information from FDRE Ethiopian Enterprise Development (smefp2023@gmail.com) and inspect the request for proposals document during office hours 0900 to 1700 hours at the address given below.
5. The request for proposals in English may be purchased by interested eligible Proposers upon the submission of a written application to the address below and upon payment of a nonrefundable fee of USD 60.00 or ETB 3,000.00. The method of payment will be in cash or direct deposit to EED’s account in the Commercial Bank of Ethiopia, Senga Tera Branch, and Account No. 1000170639662, Swift Code - CBETETAA. The document will be sent by airmail for overseas delivery and surface mail or courier for local delivery.
6. Proposals must be delivered to the address below on or before 02:30 P.M. local time January 25, 2024. Electronic procurement will not be permitted. Late Proposals will be rejected. The outer Proposal envelopes marked “ORIGINAL PROPOSAL”, and the inner envelopes marked “TECHNICAL PART” will be publicly opened in the presence of the Proposers’ designated representatives and anyone who chooses to attend, at the address below on 02:30 P.M. local time January 25, 2024. All envelopes marked “FINANCIAL PART” shall remain unopened and will be held in safe custody of the Purchaser until the second public Proposals opening.
7. All Proposals must be accompanied by a Proposal Security of USD 10,000 for Lot 1, USD 3,000 for Lot 2, and USD 5,000 for Lot 3; or equivalent.
8. Attention is drawn to the Procurement Regulations requiring the Borrower to disclose information on the successful Proposer’s beneficial ownership, as part of the Contract Award Notice, using the Beneficial Ownership Disclosure Form as included in the request for proposal document.
9. The address (es) referred to above is:
Ethiopian Enterprises Development (EED)
Small and Medium Enterprise (SME) Finance Project,
Attention: W/ro Yemenzwork Girefie
P.O. Box 1463 Addis Ababa, Ethiopia
Street Address: Mozambique Street (On the Road from Mexico to Bulgaria Mazoria), Roma Building, 4th Floor, Located Next to Total Energies on the Road Before the Bulgaria Mazoria Traffic Light
Telephone Number: +251-115-51-11-22/ +251-115-58-50-55
Addis Ababa, Ethiopia
E-mail address: smefp2023@gmail.com
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