UNSPSC 64111703: Futures contract, financial

A standardized contract between two parties, usually on the floor of a futures exchange, to buy or sell a specified financial asset of standardized quantity and quality for a price agreed upon today --the futures price-- with delivery and payment occurring at a specified future date, the delivery date, making it a type of derivative instrument. The contracts are negotiated at a futures exchange, which acts as an intermediary between the two parties and serves to minimize the risk of default by either party.

Thus the exchange requires both parties to put up an initial amount of cash --performance bond--, called the margin.

UNSPSC 64111703 Futures contract, financial is a Commodity code capturing state and local government procurement of financial contracting and treasury services that span futures trading, commercial paper facility management, liquidity provision, and specialized advisory work on tax-exempt bond compliance. Recent solicitations reveal that state and local issuers are buying treasury operations and settlement services (lockbox processing, wire and ACH handling, purchasing-card programs, zero-balance account management), custodial and safekeeping services for investment portfolios and bond proceeds, commercial paper dealer and liquidity-facility arrangements, arbitrage rebate compliance consulting tied to Section 148 of the Internal Revenue Code, underwriting services for bond issuance, and cryptocurrency custody and advisory services. Issuing bodies include county finance departments (Broward County, Okaloosa County), state-level procurement agencies (Texas Comptroller of Public Accounts, Texas Water Development Board, Washington Saves Governing Board), city treasury and capital finance offices (City of Dallas), and school districts (Manor Independent School District). The code activity reflects municipal financing operations and capital-improvement funding cycles rather than speculative trading.

Geographic concentration appears heaviest in Texas and Florida, with recent activity in Washington state. Representative recent opportunities include Broward County Finance and Administrative Services Department's master banking services RFP (lockbox, merchant card, purchasing card, treasury operations, and third-party custodian services, due October 13, 2026), the City of Dallas competitive sealed proposal for commercial paper liquidity providers across three capital programs (due May 22, 2026), the Texas Comptroller's RFP for custody and liquidity services supporting the Texas Strategic Bitcoin Reserve (due July 10, 2026), the Texas Water Development Board's RFQ for arbitrage compliance services across 39 bond issues ($363,000 maximum contract value, due May 28, 2026), Okaloosa County's ITQ for arbitrage consulting services (due July 15, 2026), and Manor Independent School District's RFQ for underwriting services (due July 27, 2026). Most solicitations emphasize established operational scale (five-plus years' experience minimum), regulatory compliance certifications (SOC 2 Type II, FedRAMP or TX-RAMP, PCI-DSS, FinCEN registration where applicable), and insurance requirements in the $1–5 million range per occurrence. Set-aside programs vary by jurisdiction—Broward County applies SBE and CBE preferences with a 5% scoring buffer; City of Dallas structures an SBE participation goal under its DRIVE program; Texas Water Development Board requires HUB Subcontracting Plans and supports VetHUB-certified subcontractor engagement. Response cycles typically run 60–90 days from posting to due date.