UNSPSC 64111704: Futures contract, commodity

A standardized contract between two parties, usually on the floor of a futures exchange, to buy or sell a specified bulk commodity --agricultural, extractive, industrial or services-- 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 64111704 Futures contract, commodity is a Commodity code that names financial derivative instruments and structured products purchased through state and local capital markets and treasury functions. Recent state and local activity shows this code applied to a range of financial services and advisory work: Treasury debt and asset management, Bitcoin custody and liquidity services, bond arbitrage and tax-compliance consulting, commercial paper liquidity facilities, unclaimed property auditing with contingency-fee structures, vehicle lease-purchase financing, and financial advisory services supporting capital improvement programs. The issuing bodies span state treasuries and finance departments (Texas Comptroller, Washington Department of Revenue, Georgia DOT, State of Florida transit authority), city finance offices (Dallas, Atlanta, Kingman), and independent school districts (Manor ISD). Repeat procurement themes include state strategic asset management (Bitcoin reserve custody), tax-exempt bond and arbitrage compliance, commercial short-term borrowing programs supporting capital projects, and contingency-based recovery services.

Geographic activity concentrates in Texas, Florida, and Washington, with scattered procurement in Georgia and Arizona. Representative recent opportunities include the Texas Comptroller's Request for Proposals (RFP) for Bitcoin custody and liquidity services under Senate Bill 21, due June 15, 2026, with contract execution targeted for August 28, 2026 and an initial three-year term through August 31, 2029; Okaloosa County, Florida's ITQ for arbitrage consulting services for tax-exempt bond compliance, due July 15, 2026; the Texas Water Development Board's RFQ for arbitrage compliance services across 39 outstanding bond issues with a maximum contract value of $363,000 and responses due May 28, 2026; and the City of Dallas commercial paper liquidity provider RFP supporting three capital improvement programs (General Obligation, Love Field Airport, Stormwater) with proposals due May 22, 2026. The code's application spans both advisory and transactional work, reflecting the commodity's use in structured financing, derivative hedging, and contingency-based professional services supporting public debt and asset strategy.