UNSPSC 64111709: Swap contract

A contract specifying the exchange of one security for another in order to change the maturity for bonds, quality of issues for stocks or bonds, or because investment objectives have changed. Swap contracts are usually negotiated on an over the counter OTC basis, e.g. outside of a futures exchange. Recently, swaps have grown to include currency swaps and interest rate swaps.

UNSPSC 64111709 Swap contract (Commodity) encompasses financial derivatives and swap arrangements that state and local governments use to manage interest rate, currency, liquidity, and investment risk. Recent state and local solicitations show treasuries, airport authorities, school districts, and water agencies procuring treasury management services, commercial paper liquidity facilities, arbitrage compliance, banking infrastructure, and custodial and investment administration for auto-IRA programs—work requiring specialized financial institutions and advisory firms to structure, execute, and monitor complex financial transactions. The issuing bodies are predominantly state finance agencies, county and city treasuries, regional authorities, and special-purpose districts; Florida's Broward County, Texas's Comptroller of Public Accounts and Water Development Board, Washington's auto-IRA Governing Board, and the City of Dallas appear as recent active buyers, each soliciting either full-service banking relationships or narrowly scoped financial derivatives and liquidity services.

Recent opportunities span Florida, Texas, and Washington. Broward County Finance and Administrative Services Department's Master Banking Services RFP (due October 13, 2026) spans lockbox, merchant card, purchasing card, third-party custodian, and treasury services, with scope ranging from $50 million in annual utility payment processing to $7 billion in investment securities custodial management. The City of Dallas issued Commercial Paper Liquidity Provider proposals (due May 22, 2026) to establish short-term borrowing facilities across three capital programs totaling up to $775 million in authorization across GO, airport expansion, and stormwater programs. The Texas Comptroller solicited custody and liquidity services for the Texas Strategic Bitcoin Reserve (due July 10, 2026), requiring cold storage, FinCEN registration, and SOC 2 Type II certification. The Texas Water Development Board's arbitrage compliance RFQ (due May 28, 2026, capped at $363,000) manages tax-exempt bond yield calculations across 39 outstanding issues. The Washington Saves Governing Board's Program Administration and Investment Management RFP (due October 9, 2026) consolidates auto-IRA recordkeeping, portal services, and management of target-date and diversified investment options across five categories.