Expression of Interest For Data Infrastructure Assessment For Em Stock Exchanges

Expression of Interest for Data Infrastructure Assessment for EM Stock Exchanges International Finance Corporation (IFC), a member of the World Bank Group (WBG), is a premier global development institution dedicated to advancing the private sector in emerging markets. With operations spanning more than 100 countries, IFC leverages its capital, expertise, and influence to foster market creation and economic opportunities in developing economies. In fiscal year 2023, IFC committed US$43.7 billion to private companies and financial institutions in developing countries, reinforcing its mission to reduce poverty and promote shared prosperity amid evolving global challenges. Further information is available at www.ifc.org. The Disruptive Technologies, Funds and Services Department (CSF) at IFC is integral to mobilizing private capital and driving innovation within emerging markets. Through a multi-faceted approach, CSF invests in private equity and venture capital funds, engages in direct co-investments from early- to growth-stage companies, and supports the development of local capital markets. Key activities include facilitating equity, venture debt, and mezzanine investments; conducting performance benchmarking and opportunity sizing across capital market sub-verticals; and collaborating with regulators, market infrastructure providers, issuers, and investors to enhance market liquidity and modernize capital markets infrastructure. The Joint Capital Markets Program (J-CAP), a World Bank Group initiative, further supports developing countries in building robust local capital markets by delivering country-specific action plans, technical assistance, and private sector engagement to achieve development objectives. Technological advancementsespecially in artificial intelligenceand increased retail participation are transforming capital market data infrastructure globally. Strategic partnerships between stock exchanges and leading cloud providers have enabled developed markets to offer comprehensive, real-time, and historical access to market data, solidifying their positions as primary sources for market information. In contrast, many emerging market exchanges contend with chronic underinvestment, limited data infrastructure, and reliance on inefficient third-party vendors. These challenges restrict foreign direct investment, market liquidity, and the ability to attract new issuers, resulting in missed opportunities despite growing investor interest. In response, WBG is providing support in modernization of data infrastructure among selected emerging market stock exchanges to foster innovative financial product development, and enhancing capital mobilization for private sector growth. To this end, IFC invites Expressions of Interest (EOI) from qualified vendors, including consortia, with demonstrated expertise in market data infrastructure assessment and development as related to capital markets and more specifically stock exchanges. The assignment comprises three phases: · Phase 1: Development of a robust methodology for conducting data infrastructure assessments, as detailed in the Terms of Reference (ToR). · Phase 2: Implementation of the assessment for up to two emerging market stock exchanges, to be nominated by IFC. · Phase 3: Refinement and scaling of the assessment methodology based on Phase 1 and Phase 2 outcomes, with the potential to extend coverage to additional markets and exchanges. Interested vendors are requested to submit comprehensive EOIs outlining their capabilities and approach to fulfilling the assignment as specified in the ToR. Tender Link : https://wbgeprocure-rfxnow.worldbank.org/rfxnow/public/advertisement/6436/view.html

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