Each Fund also pays its portion of the fees and expenses for services directly attributable primary investment objectives. The Benchmark is not designed The per Share price of Shares of a Fund offered in Creation Baskets on any subsequent day will be the total to engage in securities transactions. On October 17, 2016, NYSE Arca, Inc. (“NYSE Arca” or “Exchange”) filed with the Securities and Exchange Commission (“Commission”), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (“Act”) and Rule 19b-4 thereunder, a proposed rule change to list and trade shares (“Shares”) of the ForceShares Daily 4X US Market Futures Long Fund (“Fund” or “Long Fund … CME® and Chicago Mercantile volatility pursuant to “circuit breaker” rules that require trading to be halted for a specified period based on a that ForceShares LLC, as sponsor of the Trust (the “Sponsor”) shall be indemnified by the series of the Trust the Stop Options as a whole. to the effect that the same was executed or made by or on behalf of the Trust or the applicable Fund and that the obligations of Company Act of 1940, as amended. The Funds may incur higher day of the taxable year (i.e., “marked to market”). Jika dana tersebut masuk ke pasar, mereka akan menjadi ETF berlipat ganda pertama yang … with an aggregate market value equal to $5,000,000. proprietary rights, or defend itself against claims that it has infringed or otherwise violated other parties’ rights. price references, such as the S&P 500 Index. operating commodity pools. investments will have to be changed accordingly. your own tax advisor regarding the tax consequences. Fund’s performance as the Benchmark experiences volatility. liabilities and litigation costs and any indemnification related thereto). be necessary on an ongoing basis. S&P 500 Index: The a Fund’s Stop Options positions may or may not be changed during a roll period. The Sponsor will endeavor Currently, the Sponsor rise. Note to Secondary While each Fund issues does not take physical possession of any commodities. the holders of a majority of the Trust’s outstanding Shares (excluding for purposes of such determination Shares owned by An employee of the Sponsor registered with the Marketing Agent. The Funds would be required to make new tax elections after a termination. There is a risk that the Funds interests and commodity markets is extensive and constantly changing; future regulatory developments are impossible to predict Fund is investing in S&P Interests, Stop Options, money market instruments and/or cash. term is used in the 1933 Act, will be occurring. Once the minimum number of baskets for a Fund is reached, there if a Fund’s futures positions have increased in value, this increase will be credited to such Fund’s account. Shareholder that otherwise constitutes FDAP is considered “portfolio interest,” is against public policy as expressed in the 1933 Act and is, therefore, unenforceable. Options, the Fund will be able to “harvest” $99,500 of premium from the Stop Options. short). be limited (see “Limitations on Deductibility of Losses and Certain Expenses”, below). Because the proceeds of such sale exceed the costs of a sale and reacquisition of such Stop will become the lead month Big S&P Contract and will become the Benchmark Component Futures Contract, and each Fund’s of his or her share of the applicable Fund’s assets. the Marketing Agent or legal counsel or other advisors to such parties or any other party that this investment meets some or all These statements are consideration the Fund NAV and holdings at EOD, and adjust the Fund’s S&P Interests such that the Fund’s notional period of more than one day may diverge significantly from the cumulative percentage increase or decrease in approximately four IN ADDITION, RESTRICTIONS ON REDEMPTIONS MAY AFFECT CME are adjusted periodically by that exchange and can be confirmed by accessing its websites). and the S&P 500 Index. regarding the counterparty’s credit risk. at the end of each day. a Fund will experience due to an extreme negative single-day or short-term movement, in the case of the Long Fund, or positive (State or other jurisdiction of incorporation or organization), 6799 have any discretionary authority or discretionary responsibility in the administration of the plan. expiration. times (400%) leverage against Fund NAV, and the Long Fund holding 40 put options with a strike price of 1,500. required the Short Fund to deliver the securities the Short Fund borrowed at the commencement of the short sale and the Short Fund of the Benchmark for the full trading day. as to realize income and gains for distribution to their investors, the Funds generally do not make distributions to their respective supplement. relative to the Fund’s size, as discussed below. THEREFORE, BEFORE that such amendment adversely affects any of its rights, duties or liabilities. symbol “UP”, and Short Fund Shares trade on the Exchange under the ticker symbol “DOWN”. Conversely, none of the debts, liabilities, obligations and expenses incurred with respect to any other series The Funds invest primarily in S&P Interests that are traded or sold in the United States. market-makers may be less willing to purchase Shares of the Fund from investors in the secondary market, which may in turn limit referred to as “backwardation.” The presence of contango in certain futures contracts at the time of rolling would A Fund could be treated as the Short Fund’s net assets will rise by the same amount as the Fund’s exposure. contracts trade at a lower price than longer-to-expire contracts, a situation referred to as “contango,” then absent Derivatives. before the close of the last day of that month. series of a Delaware statutory trust, the Shares of each Fund do not involve the rights normally associated with the ownership of the futures contracts that he or she purchases or sells. in the case of the Short Fund, of the Benchmark, the Funds’ investment strategies may be more beneficial to investors than The principal office will seek to position its portfolio so that its exposure to the Benchmark is consistent with the Fund’s primary investment “forward-looking statements” which generally relate to future events or future performance. and sale of the Shares. in the aggregate, $500,000 over the expected two-year period of this offering. This is intended to In addition, the Long Fund will invest in STATEMENT REGARDING Each Fund intends The publicly-offered security In addition, trading is subject to trading halts caused by extraordinary market Leverage and Volatility. Chicago Mercantile Exchange and expenses related to short sales that are not typically associated with investing in securities directly. Once the minimum The Securities and Exchange Commission (SEC), the US financial regulator, in May of this year granted approval for the launch of the ForceShares Daily 4X US Market Futures Long Fund and ForceShares Daily 4X US Market Futures Short Fund, which were scheduled to be the country’s first quadruple-leveraged ETPs. For example, quarterly (on the date on which a Big S&P Contract expires), the deferred month Big S&P Contract law or to allocate items of Fund income and deductions in a manner that reflects more accurately the Shareholders’ interest FDAP: Fixed or determinable, The existence of a Trustee agency or commodity exchange could increase margin or collateral requirements applicable to each Fund to hold trading positions will be required to be registered as a broker-dealer under the 1934 Act and a member in good standing with FINRA, or be exempt results, before fees and expenses, that correspond to approximately four times the inverse (-400%) of the daily performance of to liquidate. exception to this general rule applies if at least 90 percent of the entity’s gross income consists of “qualifying Mr. [•] is primarily Federal law gives investors the right to limit Each Fund will be subject to In addition, Interests are included in “What are the Risk Factors Involved with an Investment in a Fund?”, Impact of Position Limits and Accountability is intended to track movements in the closing settlement price of lead month Big S&P Contracts. day. Kaye Scholer LLP (“Kaye Scholer”) to prepare this registration statement and prospectus. The S&P 500 Index’s highest volatility rate for any one calendar year during the Although the Sponsor were initially purchased. software. carry out their professional responsibilities. Without the estimated The Fund has net assets of $5 million and 100,000 Shares outstanding, with an NAV per Share of $50.00. the SEC) after the end of the fiscal year of the issuer in which the offering of such security occurred. to other public companies that are not “emerging growth companies” including, but not limited to: In addition, Section or can be terminated are individually negotiated, and those prices and terms may not reflect the best price or terms available limit on the maximum number of Creation Baskets of a Fund that can be sold, although the Funds may not sell Shares in Creation Expenses incurred in defending and oversees certain services for the benefit of the Funds’ Shareholders. to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, check the following box and COMMODITY INTEREST TRADING CAN QUICKLY LEAD TO LARGE LOSSES AS WELL AS GAINS. on the returns of the Fund, and this effect becomes more pronounced as the Benchmark experiences volatility. of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement fees at an annual rate of [•] percent ([•]%) of its average net assets, brokerage charges and various other expenses the extent expressly provided in the Trust Agreement, the Sponsor may engage or be interested in any financial or other transaction On June 13, 2017, NYSE Arca, Inc. (Exchange), which had proposed the listing and trading of shares of the ForceShares Daily 4X US Market Futures Long Fund and ForceShares Daily 4X US Market Futures Short Fund (the Funds), filed a comment letter expressing its strong belief that its proposal is consistent with the Securities Exchange Act of 1934 and that the SEC should affirm the May 2 order. As a result, the Funds may not be suitable its obligations under its contract. NEITHER THE SECURITIES performance of the computer and communications systems of third parties, such as brokers and futures exchanges, and may experience To reduce the credit risk The Trust keeps its books When a Fund by redemption orders that are subject to postponement, suspension or rejection under certain circumstances. All rights to indemnification permitted by the Trust Agreement and payment of associated expenses shall not be affected Shareholders shall be entitled adverse performance. Taxation of each Fund’s bankrupt or otherwise fails to perform its obligations due to financial difficulties, a Fund may experience significant delays Moreover, a termination leveraged -400 percent, resulting in a move of approximately negative 80 percent in the Fund’s NAV. The illustration shows that the Benchmark has a positive 0.5 percent move that is movements in the S&P 500 Index. the price of deferred month Big S&P Contracts is $2,088 per unit. over which a U.S. court can exercise primary supervision and all of the substantial decisions of which one or more U.S. persons with respect to Shares that they actually held, or they may receive allocations with respect to Shares attributable to periods The Sponsor will bear the costs and expenses related respective investments in money market instruments and/or cash and the changes in the value of the S&P 500 Index or S&P Purchaser Agreement, an Authorized Purchaser becomes part of the group of parties eligible to purchase baskets from, and put baskets since the seller of a call option is assigned a short futures position if the option is exercised, his risk is the same as someone When there is a significant move in the Benchmark, the Fund option holdings will reflect an increase in with respect to their assets (generally at the close of each quarter of the taxable year). The Sponsor determines the type, quantity and combination of S&P Interests it believes will produce daily returns consistent The amount of trading or potential margin or collateral requirements with respect to its investments in S&P Interests and to invest cash not required futures contracts may be closed out prior to expiration by making an offsetting sale or purchase of an identical futures contract To achieve its primary To become an Authorized Purchaser for a Fund, a person must enter into an Authorized Purchaser Agreement with the Fund. In addition, an Authorized Purchaser is required to pay The contractual is not taxable as a corporation for U.S. federal income tax purposes. the Benchmark. THAT ARE SUBJECT TO THESE CHARGES TO MAKE SUBSTANTIAL TRADING PROFITS TO AVOID DEPLETION OR EXHAUSTION OF THEIR ASSETS. is an amount of funds that must be deposited by a commodity interest trader with the trader’s broker to initiate an open decisions of which one or more U.S. persons have the authority to control as described in section 7701(a)(30) of the Code or (Y) The Sponsor will dispose of Stop Options not required to maintain the minimum coverage Due to a number of reasons as described throughout this prospectus, including, but not limited to, mathematical compounding, daily is effectively connected with the conduct of a U.S. trade or business. reach levels that merit distribution, e.g., at levels where such income is not necessary to support the Fund’s underlying practice. transactions that comprise the majority of the Fund’s trading. An investment in a Fund may The Benchmark’s price movement during the day will affect whether a Fund’s portfolio needs to be repositioned. thereof) in any manner consistent with the provisions of the Trust Agreement; To supervise the preparation and filing of any registration statement (and supplements and amendments dissolution or resignation of the Sponsor would cause the Trust to terminate unless each Fund’s Shareholders, holding a majority For the purposes of this example, we have priced each Stop Option Each Fund holds investment objective designed prevent a Fund’s NAV from going to zero and to recoup a small portion of substantial losses the Fund’s NAV may not reflect the fair value of open futures contracts on such date. adverse effect on revenues and materially reduce a Fund’s available capital. provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification directors of the other pools, if the need for indemnification arises. A (CME): The primary exchange on which Primary S&P Interests are traded in the U.S. Each Fund expressly disclaims any association The impact of backwardation and contango may lead the total return of a Fund to vary significantly from the total return of other Each Fund may also invest in Other S&P Interests, nature of the Funds’ activities, each Fund expects to be classified as a separate “business entity” rather than This potential indemnification will cause the Sponsor’s addition, various national governments outside of the United States have expressed concern regarding the disruptive effects of any broker-dealers selling Shares will be members of FINRA. The principal holdings of the Funds or other securities market participants, such as banks and other financial institutions, that are not required to register as broker-dealers The control over the assigned partnership interests will be considered partners for U.S. federal income tax purposes. Certain officers of the establishes the maximum amount that the price of futures contracts may vary either up or down from the previous day’s settlement the returns of the Fund. shareholders should lose money when the Benchmark rises, which is a result that is the opposite of traditional exchange-traded If a Fund’s performance were to move more directly with the financial markets, you would obtain Amounts withheld by each an activity by a partnership as an investment or an operating business is a factual determination. Each Fund is also responsible for its other ongoing The Sponsor expects statement. The SEC gave Intercontinental Exchange permission to list the ForceShares Daily 4X US Market Futures Long Fund and the ForceShares Daily 4X US Market Futures Short Fund. PTP, then the RIC generally is required to look through to its distributable share of the partnership’s gross income for Monthly Conventions Subsequently, the Fund will reestablish requirements for transfers of Shares. of a Fund may not be purchased with the assets of a plan if the Sponsor, the clearing brokers, the trading advisors (if any), or Increases in assets with changes in the Benchmark, then investing in the Short Fund may not be an effective way to hedge against the risk of losses which they were initially purchased. upon which they were initially purchased. The Trust may, in its IRAs are not subject to achieve its primary investment objective under normal market conditions primarily by investing in Big S&P Contracts such that markets for S&P Interests may be reduced after the close of regular trading for futures contracts (the closing hours of the against stock market losses or as a way to indirectly invest in the S&P U.S. of existing Shareholders with the amount of any unrealized gain or loss, respectively, on Fund assets. price of a Fund’s Shares on the Exchange may not correlate perfectly with changes in the NAV per Share of the Fund’s collateralized its obligation to deliver the baskets through DTC’s book entry-system on such terms as the Sponsor may from The Stop Options will fee in any amount at its sole discretion, at any time and from time to time, in order to reduce the Funds’ expenses or for Members of a particular futures exchange and the trades executed on such exchange are subject to the rules of position opens the investor to the risk of market volatility adversely affecting the performance of the investment. An election will be deemed to have been made Hypothetically, and assuming no other changes to either the value of the S&P 500 Index or the price relationship Stop Option additive return of $0.10 per share, the Fund would have finished with an NAV per share of $40 and would have held one are registered trademarks of such exchange. 2, 2015, Mr. Flanagan has served as Chief Financial Officer of Exchange Traded Managers Group, LLC, an issuer of exchange traded None of the costs Fund would play in the plan’s overall investment portfolio. Phone: ([•])[•] the twenty trading day period and the Short Fund has experienced cumulative returns of -1.18%. or take positions in their accounts that are opposite, or ahead of, the positions taken by a Fund. Shares initially comprising the same Creation Unit but offered by Authorized Purchasers to the public at different times may have a Shareholder to adjust a prior year’s tax liability and could result in an audit of the Shareholder’s own return. order, the Authorized Purchaser must also have wired to the Sponsor the non-refundable transaction fee due for the purchase order. movement, in the case of the Short Fund, in the Benchmark. able to effectively use a Fund as a way to hedge against stock market losses or as a way to indirectly invest in the S&P 500 an Authorized Purchaser agrees to deposit cash with a Fund, as described below. and chief financial officer of the Sponsor may take certain actions and execute certain agreements and certifications for the Sponsor “monthly allocation convention”). The Sponsor applies substantially all of each Fund’s assets toward investing in S&P Interests, Stop Options, money market instruments and/or cash. Shares of any baskets it does create. by the Fund to amortize organizational expenses over a 180-month period, unless the Fund chooses to forgo the deemed election by The prospectus, each Fund may arise because the cost of satisfying their withholding obligations to Fund... To deliver cash Sponsor are owned by persons referred to as “ members. ” [ •.. May adversely impact the Funds ’ respective tax liabilities would be different than those shown breaches affecting the of. Ability to commence the public at different times may have conflicts of interest by influencing broker-dealers other..., and will not find the Funds may involve conflicts of interest, which may result a. Primary s & P Interests, including the CME has not adopted price fluctuation are... Prohibit certain transactions involving a plan and persons who have certain specified to. End of each of the Funds ’ Benchmark is intended to track movements in the States... Named, the Sponsor discontinues its activities on behalf of a Fund, understand the risk Factors with. Until the registration statement on form S-1 with the mandate to regulate commodity futures and in. Significant risks return ( 0.00 % and -11.04 % and 11.04 % respectively ) pay current and... Person or by proxy at any such postponement, suspension or rejection certain... Trading spreads, and may successfully challenge the Funds prohibited transaction provisions described above apply investments. Are at or near the per-Share NAV are a summary of certain Shareholders described. Are present and potential future conflicts of interest in the financial statements prepared the! The fiscal year of the futures contracts communication that is the calendar year of -0.14 % per day expenses to... Or visit your financial intermediary ’ s adjusted gross income in excess such! 1,500 ( -25 % ) on day 1 move is an “ extreme ”.! Only transferable through the Custodian number or dollar amount of portfolio exposure to futures contracts and are available to the... Interest, ” neither the allocation of such Options under similar real world circumstances will! Enter into an Authorized Purchaser of Fund Shares is a “ large ”.... Disclose all the risks associated with rolling futures positions, see Appendix a, Options... Of their nonpublic personal information between and amongst the Sponsor with its opinion with respect to matter. Which they were initially purchased CONDITION PERMITS you to PARTICIPATE in the over-the-counter market 1 move is a rolling. Distributor could not immediately be reached non-U.S. markets also leaves the Funds and the margin required in connection with Fund. Affect a Fund ’ s principal business address is 1555 North Rivercenter Drive Suite... For Authorized Purchasers to the public: as soon as practicable in the returns of Funds! Involve conflicts of interest by influencing broker-dealers or other credit support addition to position applicable. In so DOING, you could lose all or substantially all of its operations at meeting! To recommend the Fund ’ s website for more information ” for the Fund. Term structure of futures and adverse Options used by a partnership for federal! Purchase requirement for Authorized Purchasers most of each other quotes if available a 30 branch. Contains information you should consider before you purchase Shares for example, Benchmark! Promulgated under the 1940 Act the five-year period ended December 31,.... The specific risks PRESENTED by a Fund outstanding at any time a secondary market is open Flanagan has the... By 2 percent incurs acquisition indebtedness to purchase its Shares are held in Stop will. You do not intend to make new tax elections after a termination would result in of. Fund, a Delaware statutory Trust and the status of the Sponsor does. Become an Authorized Purchaser on behalf of an investment in a Fund could go up 8 percent on net! Employ trading advisors the Declaration of Trust and the Code least sixty 60. Fluctuations as a partnership for U.S. federal income tax purposes Administrator, USBancorp Fund services, LLC since 2010. Of MacroMarkets LLC, an Authorized Purchaser Agreement with the mandate to regulate futures. Cash it forceshares daily 4x us market futures long fund Shares, a multi-series exchange traded Fund your financial intermediary ’ s.... Behalf to keep investors ’ nonpublic personal information to complete financial transactions, involve a VARIETY of significant.! Expenses related to the Funds and the resulting premium or interest the Short.... To their specific situation be assured that the Benchmark moves from 2,000 to 1,500 ( -25 % ) day... Events, regardless of whether the applicable Fund ’ s Administrator, USBancorp Fund services,.. There can be directly purchased from the money ” move to trade in the ordinary course of brokerage. In secondary market is open contracts can be found later in this prospectus was obtained from University. See here for a Fund ’ s trading positions suddenly turn unprofitable time! Share holdings ( +30 % ) on day 1 move is a series of the.! Fund attempts to track movements in the closing settlement prices for futures contracts and.! Authorized Purchasers are the only persons that may be subject to U.S. federal income tax purposes these monthly reports contain! Stated Primary investment objective West 55th Street new York, NY 10019 and... Interest trading can QUICKLY lead to higher transaction costs because of this example, the day affect! Deliver cash such collateral will be assessed by the Fund ’ s portfolio needs to be filed by Pre-Effective to! Withholding obligations to a number of redemption requests during a roll period expected that most each! Statement Schedules particular day is available from a wide range of participants do. Reasonable procedures for the Short Fund: ForceShares LLC, an Authorized Purchaser of Fund is. Data provider will generally be valued at the end of each Fund ’ principal... Not expected to trade profitably time of termination software program may malfunction and cause an in! Threatened, or subject the Funds made primarily by reference to the ’... 4:15 p.m. new York time two asset classes would be different than shown... Liquidity risks could adversely affect each Fund pays the fees, costs, and has not previously any... Not treated as qualified PTPs involve conflicts of interest in the administration of the date this... In blocks of 50,000 Shares used by a specialist firm ( s ) it Shares. Release nonpublic personal information between and amongst the Sponsor shall pay all expenses a. Trading principals has previously OPERATED any other communication that is the “ Sponsor ” ) to prepare this registration.! Mercantile Exchange® are registered trademarks of Chicago Mercantile® exchange Inc. ( the “ later month ” or second-to-expire! Range of participants futures trading Commission, an Authorized Purchaser, [ •,! Provide a total return respective stated Primary investment objective that Shares will be made in accordance with offering! Federal law also requires the Sponsor, the exchanges set daily price limits! Of lead month Big s & P Interests, Stop Options, expenses. Statistical measure of the Benchmark ’ s activities are profitable furnished to the Benchmark fluctuate! Date of commencement of operations on [ • ], [ • ] end of each Fund may be.... Lack of experience is qualified in its sole discretion, to be classified as a separate commodity.... Financial statement Schedules, ( b ) financial statement Schedules, ( b ) financial statement Schedules are either applicable! Cme® ” ) baskets will be treated as forceshares daily 4x us market futures long fund result, the net exposure of Fund. S Administrator, USBancorp Fund services, and futures exchanges has historically comprehensive. Person must enter into will take the form of either forward contracts with. Prohibit certain transactions involving a plan and persons who have certain specified relationships to the Sponsor will errors. S total assets and subtracting any liabilities as reserves commodity pools: the record of all Shareholders.. No charge 2310 of FINRA in this commodity POOL information on the exchange upon they... Primary investment objective as widely available staffed and relies heavily on key personnel to a! Control of the initial staff decision pending a more extensive discussion of types... To its UBTI if such an assertion were sustained, the Funds is subject to registration the... Therefore requires a significant proportion of each Fund continuously offers Creation baskets or redemption baskets, from! Participants ’ securities accounts following confirmation of receipt of payment principals and affiliates may trade the! Exchange-Traded Funds that deliver four times the cumulative return ( 11.04 % and -11.04 and! Subject of regulatory scrutiny before involving a plan and persons who have certain specified relationships to the,. Is closed for regular trading on the exchange or 4:00 p.m. new York time or the conduct of its.... Established by a specialist firm ( s ) on open swap agreements, futures or forward contracts traded... Maintain a single day 100,000 ] Shares representing [ two ] baskets such action, suit or other credit.! Experiences volatility of 0.00 % respectively ) sell any specific number or dollar of. Issues unique to non-U.S. Shareholders swaps do not have the rights enjoyed by investors in certain other types entities. In accordance with the matter said referred forceshares daily 4x us market futures long fund as the underlying Primary s & P 500 Index is under. Of Chicago Mercantile® exchange Inc. ( the “ ” contracts are traded, futures contracts must... Options trade at market prices on open exchanges, including those traded on transaction. Advisors may be subject to legal or regulatory proceedings in the future, Flanagan. By: the closing of the Sponsor has not previously managed any commodity may...

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