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Newsroom & speeches
99/03
07 August 2003
As part of an ongoing programme of modernisation HM Treasury is today issuing invitations to tender for a contract to provide gilts registration services.
The Bank of England’s Registrar’s Department has conducted gilts registration services on behalf of HM Treasury to date, but will cease to do so by March 2005. HM Treasury is seeking to appoint a new provider to take its place. The Government believes that the private sector is better placed to provide the benefits of economies of scale in the years ahead.
The contract is being tendered now to allow sufficient time for a new service provider to take over the existing gilts registration system and prepare for and implement the re-engineered model.
A new provider is expected to be appointed later this year.
1. The release of this ITT takes account of the outcome of a consultation exercise to agree a re-engineered model for gilts registration services. Full details of both the new model and the consultation exercise can be found on the Treasury’s website.
2. Media enquiries to:
HM Treasury press office: 020 7270 4420
Bank of England press office: 020 7601 4411
Debt Management Office press office: 020 7862 6501
