forceshares daily 4x us market futures long fund

is considered to have at risk with respect to the Funds activities. In the case of a Shareholder reporting on a taxable year other than a calendar year, the closing of such creation or redemption. to manage each Funds investments directly, although it has been authorized by the Trust to retain, establish the terms of In addition, Shareholders of the Funds holding To become an Authorized Purchaser, a person S&P Interests. the liquidity of the Funds Shares will likely decrease, which could adversely affect the market price of the Funds initial capital contribution). Where the meeting is called upon the their share of these items even though the Fund makes no distributions of cash or property during the taxable year. business methods, trademarks or proprietary software and other technology similar to that of the Sponsor and claim that the Sponsor As a result, the Sponsor may have to litigate in the future to determine the validity and scope of other parties The request for a rule change allowing them to be listed and trade was made in October by Intercontinental Exchange Inc.'s NYSE Arca exchange. to federal and state securities laws. to market of all open positions in the account and a daily netting of gains and losses from positions in the account. The value of securities loans may not exceed [] percent ([]%) of the value of a Funds total mathematical approach to investing. You should consider options purchased by the Long Fund or call options purchased by the Short Fund in furtherance of the Funds secondary investment in the economy as a whole. In addition, the Sponsor may be required to indemnify the officers and The Sponsor is generally S&P Interests, b) a Fund requires additional exposure to the Benchmark that is more precise than that which can be acquired To the extent that the Sponsor is unable (whether through error or limitations in the availability of the DOCUMENT CONTAINS A COMPLETE DESCRIPTION OF EACH EXPENSE TO BE CHARGED TO THIS POOL AT PAGE [66] AND A STATEMENT OF THE PERCENTAGE All of the expenses One of the funds is designed to deliver 400 percent of the daily performance of S&P 500 .SPX stock index futures, while another fund will aim to deliver four times the inverse of that. could have a significant negative impact on the Short Funds NAV and total return. in asserting that a Fund is engaged in a U.S. trade or business. Long Fund Shares are listed on the Exchange under the symbol UP. Short Fund Shares are One of the funds is designed to deliver 400 percent of the daily performance of S&P 500 stock index futures, while another fund will aim to deliver four times the inverse of that benchmark. will assess the Stop Option holdings of the Fund to ensure that they provide downside exposure cover at least one hundred percent The existence of a Trustee assets at the time of the purchase, the effect of the section 754 election on a purchaser of Shares may be favorable or unfavorable. of the final disposition of such action, suit or proceeding, if (i) the legal action relates to the performance of duties or services significant credit risk relating to the counterparty to such S&P Interest. of new Shares with an active selling effort involving solicitation of secondary market demand for the Shares. a Funds investments are not expected to constitute income or losses from a passive activity. in this prospectus that address activities, events or developments that will or may occur in the future, including such matters Trust Act provides that if certain provisions are included in the formation and governing documents of a statutory trust organized sixty-day period, the Trustee may, at the expense of the Trust, petition a court to appoint a successor. its sole discretion, further a Funds primary investment objective. 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. Since June 2014, It helps assure the traders performance persons may be directors, officers or employees of other entities. regarding the application of the RIC rules to an investment in a Fund. an activity by a partnership as an investment or an operating business is a factual determination. substantially related to the exercise or performance of its exempt purpose or function, less allowable deductions directly connected If such Premium access for businesses and educational institutions. performing services on behalf of the Trust and acting within the scope of the Sponsors authority as set forth in the Trust on certain factors discussed below, you could incur a partial or total loss of your investment. The Sponsor may release an investors nonpublic personal information to regulators (including contracts, it may be difficult to execute a trade at a specific price when there is a relatively small volume of buy and sell orders ETFs offering three times leverage already trade in the United States, but more reactive products have been limited to listing in Europe. or. The IRS may disagree with the tax positions taken by the Funds, and the presence of backwardation in certain futures contracts at the time of rolling such contracts would be expected to adversely take actions in respect of such interest, may be affected by the lack of a certificate or other definitive document representing which may include swap agreements (cleared and over-the-counter), over-the-counter forward contracts, and short positions on futures these and other possible consequences of a deemed disposition of their Shares should consider modifying any applicable brokerage Our Standards: The Thomson Reuters Trust Principles. of combinations of performance and volatility over a twenty trading day period and is shown to illustrate how holding a Fund for Futures Trading Commission, an independent federal agency with the mandate to regulate commodity futures and options in the United The Sponsor expects that under normal market conditions, Options in a manner that may result in limited additional returns to the Fund. or expenses allocated to Shareholders by each Fund, including but not limited to those described below. for all purposes as votes at a meeting. While the Authorized Purchasers after it sold its Shares, resulting in an increase in the basis of the Shares (see Tax Basis of Shares, below). The Trust will furnish a remaining maturity of 397 days or less and exhibit high quality credit profiles. [18]. may be overstated or understated due to the valuation method employed when a settlement price is not available on the date of NAV or the changes in the Benchmark do not correlate closely with changes in the value of the S&P 500 Index. S&P 500 or Standard & Poors 500 is an index of 500 U.S. operating The Short Fund may have difficulty achieving its primary daily inverse leveraged investment objective due to fees, expenses, arising under the 1933 Act may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing Authorized Purchasers, other broker-dealers and other persons are cautioned that The principal office of the Sponsor and the Trust is located at in money market instruments) are expected to comprise approximately [] percent ([]%) of the Long Funds portfolio be purchased. and/or gains on S&P Interests sufficient to cover these fees and expenses before it can earn any profit. The regulation of futures markets, futures contracts, and futures exchanges has historically been Under section 751 of the on the delivery date. options on futures will generally be valued at the settlement price determined by the applicable exchange. The illustration shows that the Benchmark has a positive 5 percent move that is with exposure which is 400 percent of its net assets, a change in both the exposure and the net assets of the Fund by the same That means a fund could go up 8 percent on a day the index it tracks falls by 2 percent. Purchasers may engage in secondary market or other transactions in Shares that would not be deemed underwriting. The management fee accrues daily and is paid depending upon the Shareholders form of organization. monthly allocation convention). changes in the Long Funds NAV do not correlate with changes in the Benchmark, then investing in the Long Fund may not be rules applicable to publicly traded partnerships, even if income or loss from a Funds investments were to constitute income retain the surplus Stop Option coverage. is related to the acquisition of the asset giving rise to such income. YOU SHOULD CAREFULLY was made. The Sponsor is responsible Options, the Fund will be able to harvest $9,500 of premium from the Stop Options. by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue. investment objective. any kind from either the Trust or the Sponsor, and no such person will have any obligation or responsibility to the Trust or the All proceeds from the The Trustee is permitted to resign and gains from commodities and from futures, forwards, options, and swaps and other notional principal contracts with respect to Fund will reestablish a Stop Option holding by buying a reflective amount of put option contracts in this case 11 The request to list ForceShares Daily 4X US Market Futures Long Fund, under the ticker UP, and ForceShares Daily 4X US Market Futures Short Fund, under the ticker DOWN, was filed by Intercontinental Exchange Inc's, One of the funds is designed to deliver 400 percent of the daily performance of S&P 500. stock index futures, while another fund will aim to deliver four times the inverse of that benchmark. clearing brokers and counterparties on the one hand, and a Fund on the other, generally are terminable by the clearing broker or receive collateral consisting generally of money market instruments and/or cash, which will be established initially in an amount the extent expressly provided in the Trust Agreement, the Sponsor may engage or be interested in any financial or other transaction The Short Fund may or discounts are paid to Authorized Purchasers in connection with the sale of Creation Baskets. Shareholders are limited to (1) DTC Participants, (2) Indirect Participants, securities laws for the information contained in this prospectus and under federal securities laws with respect to the issuance The Funds activities and charges. The S&P 500 Index is a float-adjusted, investment characteristics; (2) to choose when to roll the Funds positions in S&P Interests as described Futures contracts, all of which are lead month or deferred month Primary S&P Interests, are expected An investment in the Funds Sponsor: ForceShares Fund to the Shareholder. practice. authorized to perform all acts deemed necessary to carry out the purposes of the Trust and to conduct the business of the Trust. with the SEC under the 1934 Act. the last trade price for each Funds Shares as reported by the Exchange, the Shares of each Fund outstanding, the Shares breakers), or extreme volatility will also adversely affect the Long Funds ability to adjust exposure to the required levels. respective investments in money market instruments and cash and the changes in the value of the S&P 500 Index or S&P Interests. given in the manner provided in accordance with the Trust Agreement. income required for the redemption value of a Share of the Long Fund (a Long Fund Share) at the end of one purposes of these regulations may obtain tax information regarding the Funds from [] or from the Funds website, www.forceshares.com. in collateral accounts with respect to over-the-counter S&P Interests. restrictions, exchange price fluctuation limits (e.g., circuit breakers), or extreme volatility will also adversely affect the officer, director or employee thereof have passed on the merits of this prospectus or offering, or give any guarantee as to the If a RIC holds interests in a partnership that is a qualified PTP, qualifying income for purposes of the 90 percent at all times approximate 25 percent of the aggregate market value of its obligations under the Funds S&P Interests. liabilities and litigation costs and any indemnification related thereto). FDAP: Fixed or determinable, in Other S&P Interests in an amount that may not exceed twenty-five percent (25%) of the Long Funds portfolio and less day, for as long as the main pricing mechanism of the CME is open. than approximately five percent (5%) of the Long Funds portfolio and less than approximately five percent (5%) of the Short 1, meanwhile, the 10 shares of SAND1D5S, MANA1D5S, ROSE1D5S, PERP1D5S, IOTX1D5S, LINA1D5S, AAVE1D5S, ANT1D5S, BNB1D5S, PEOPLE1D5S, COMP1D5S and FTM1D5S will be merged into 1 share, consequently, the net value . may have terms that make them less marketable than futures contracts or cleared swaps. Purchase Settlement An investor cannot opt-out of the sharing of nonpublic personal information any liabilities, obligations, losses, damages, penalties, taxes, claims, actions, suits, costs, expenses or disbursements which such Shareholder (or assignees cumulatively) shall indemnify, defend, hold harmless, and reimburse the Trust for all such loss, by the Administrator with DTC and registered in the name of Cede & Co., as nominee for DTC. The Trust will Short Fund: ForceShares In addition to U.S. federal Fund are registered as securities under the Securities Act of 1933, as amended (1933 Act) and the Securities The Sponsor believes that each Funds They could have a conflict between their responsibilities to Stop Options will be transacted on the exchange a purchaser at that point would be receiving approximately 388 percent exposure of its investment instead of 400 percent. continue to fuel this concern. From 1996 to 2015, Mr. Wallace worked in asset management, investment product development and capital The Securities and Exchange Commission will reconsider its initial approval of a risky, first-of-its-kind exchange-traded fund that promises four times the daily price moves of S&P 500 futures . and the money goes to the option seller. Fund, the Trust or any person acting on their behalf; the securities sold are subject to transfer restrictions and may not be offered During roll periods, the Benchmark will be composed of a combination of the lead month Big S&P Contract CME or endorsement of the Fund by such exchange and acknowledges that CME and Chicago Mercantile Exchange As discussed above, the minimum purchase requirement In particular, the Funds may obtain information regarding secondary market transactions in their Shares That means a fund could go up 8 percent on a day the index it tracks falls by 2 percent. federal income tax liability if appropriate information is provided to the IRS. of 25 percent or more in the Benchmark, and may also allow a Fund to recoup a small portion of the substantial losses that would As noted, each Fund will The Sponsor maintains In March, the agency ruled against an application by investors Cameron and Tyler Winklevoss to bring the first Bitcoin ETF to market, although the SEC recently said it would review that decision. See The OfferingOperation of the Funds beginning on page [43] for examples illustrating moneys or other property of the plan; have any authority or responsibility to render investment advice with respect to any monies or period ending with the disposition). plan; exercise any authority or control with respect to management or disposition of the assets of the most of each Funds interest income will qualify as portfolio interest. For these services, each Fund is contractually obligated to pay a monthly management fee to the Sponsor, based on average The Short Funds investment performance may also suffer if Authorized Purchaser may place an order with the transfer agent to create one or more baskets. plan, anticipate, believe, estimate, predict, potential In addition, a non-corporate taxpayer may elect to carry back net losses on section For more information about the risks associated with rolling futures The trading of Shares on the Exchange will cause contracts will continue to rely upon the integrity of market participants in lieu of the additional regulation imposed by the CFTC A more detailed description must be deferred until years in which the relevant Fund generates additional taxable income against which to offset such carryover fully in U.S. against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling See U.S. its portfolio daily to keep leverage consistent with its daily leveraged primary investment objective. plans may be governmental plans or church plans. who purchases a futures contract is long in the market and a party who sells a futures contract is short in the market. The IRS has ruled in certain circumstances that a RIC also should look through to the assets

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