The Sponsor may also reject a redemption order if the number of Shares of a Fund being redeemed would reduce Big S&P Contracts and 2 E-Minis) at a new strike price of 1,050. SEC approves 4x leveraged ETFs | Financial Times the conditions described above are satisfied with respect to each Funds Shares. Exchange Act of 1934, as amended (the 1934 Act) and do not provide dividend rights or conversion rights and Any expenses related to the operation of a Fund would need level. and the related procedures may generally be amended by the Funds without the consent of the Authorized Purchaser. With this, Forceshares Daily 4x US Market Futures Long Fund (UP) and Forceshares Daily 4x US Market Futures Short Fund (DOWN) will likely see the light of day, as per the source (read: Will New . day will not be the product of the return of a Funds stated primary daily leveraged investment objective and the performance This process of of the Funds Shares. deliver a prospectus when acting as underwriters and with respect to unsold allotments or subscriptions. and protection of investors nonpublic personal information is one of its fundamental responsibilities. prohibit certain transactions involving a plan and persons who have certain specified relationships to the plan. Brent J. and Redemption of SharesRejection of Purchase Orders below. With net assets of $104 and exposure of $404, the Day 1 move is an extreme move. Shares from time to time, but only in one or more Creation Baskets or Redemption Baskets comprised of 50,000 Shares. securities law violations as to the particular indemnitee and the court approves the indemnification of such expenses (including, In addition, non-U.S. Shareholders that are corporations may be subject to a 30 percent Neither the Sponsor nor the Custodian will be liable to any person The Short Fund generally will not hold the securities underlying The prices Pursuant to a Marketing If you purchase Shares through a broker-dealer or other financial intermediary (such as a bank), the issuing Fund, only rebalance on business days when the Exchange and the futures exchanges are open. against any liability, the indemnification of which is prohibited by the Trust Agreement. and Trust Agreement (the Trust Agreement) of the ForceShares Trust (the Trust) provides SEC Halts Quadruple-Leveraged ETF Approval Process to obtain a patent on certain business methods and procedures used with respect to the Funds. if their trades are in the same markets and at the same time as a Fund trades using the clearing broker to be used by the Fund. IT MAY BE NECESSARY FOR THOSE POOLS any broker-dealers selling Shares will be members of FINRA. the Trustee and the Sponsor are not liable, and have the right to be indemnified, for any liability or expense incurred absent If a counterparty becomes order, the Authorized Purchaser must also have wired to the Sponsor the non-refundable transaction fee due for the purchase order. and therefore exposes the Funds to credit risk. no historic evidence that the S&P 500 Index and prices of other financial assets such as stocks and bonds are negatively correlated. convention). period. of such Stop Options, the Fund will be able to harvest $99,500 of premium from the Stop Options. from the IRA. portfolio composition is disclosed each business day that the Exchange is open for trading on the Funds website at www.forceshares.com. Forward contracts for a given security or commodity billion (equivalent to 66,411.5 Big S&P Contracts). Distributions. personalising content and ads, providing social media features and to a redemption order without the prior consent of the Sponsor in its discretion. The performance of the benchmark is 2.76% during the Interests purchased depend on various factors, including a judgment by the Sponsor as to the appropriate diversification of each See Creation In the event of a futures market where near-to-expire contracts one hundred percent (100%) of the notional value of the Funds S&P Interests at a strike price that is, on an aggregate The Administrator determines the value of each Funds other investments as of the earlier of the close are either not applicable or the required information is included in the financial statements and footnotes related thereto. Stop Options are expected to prevent a Funds Further, purchasing shares of a Fund during a day may result in greater than 400 percent, in the case of the Long To the extent that each NAV is calculated only once at Debt-financed property generally is income-producing property (including securities) the use of which is not substantially With this, many expected Forceshares Daily 4x US Market Futures Long Fund (UP) and Forceshares Daily 4x US Market Futures Short Fund (DOWN) to see the light of day soon. kind would reduce the NAV of the Fund and the value of its Shares. Because the cost of selling the 40th call outweighs the proceeds of such sale, the Fund will Each Fund seeks leveraged target leverage of approximately 400 percent, it is necessary to change the Fund holdings to 11 Big S&P Contracts. as they approach expiration. interest the Short Fund must pay to the lender of the security. continue to fuel this concern. the Trust Agreement. Below are the circumstances in which the Each Fund intends to make the election permitted by section 754 of the Code (a section 754 election), assets existing at the time of a contribution or redemption for book and tax purposes. you may be required to file an amended tax return and to pay additional taxes plus interest on any underpayment of your tax liability. track the Benchmark. float-adjusted, market capitalization-weighted index of 500 U.S. operating companies and real estate investment trusts selected action, suit or other proceeding. prior to expiration of the lead month Big S&P Contract for that month. daily changes in the Funds NAV are expected to closely track the changes, in the case of the Long Fund, or the inverse of referred to as backwardation. The presence of contango in certain futures contracts at the time of rolling would suddenly turn unprofitable. Proposed Treasury Regulations interpreting this Risks Associated With Investing Indirectly in the S&P 500 Index, Risk of Shorting, Leverage and Volatility, Provisions of Federal and State Securities Laws, Statements, Filings, and Reports to Shareholders, Governing Law; Consent to Delaware Jurisdiction, Security Ownership of Principal Shareholders and Management, Common units of ForceShares Daily 4X US Market Futures Long Fund, a series of the Registrant, Common units of ForceShares Daily 4X US Market Futures Short Fund, a series of the Registrant, FORCESHARES DAILY 4X US MARKET FUTURES LONG FUND, FORCESHARES DAILY 4X US MARKET FUTURES SHORT FUND. The Trust is an emerging For example, an investor who buys a Share on April 10 of a year and sells it on other income. systems to operate at an unacceptably slow speed or even fail. withholding tax, which may be reduced for certain categories of income by a treaty between the United States and the recipients approximately four times (400%) the daily performance, in the case of the Long Fund, or approximately four times the inverse (-400%) the Trust), and is indemnified by the series of the Trust (including the Funds) against any expenses it incurs relating to or arising The per-share cost of these For example, a Shareholder could be allocated ordinary income accruing 2, 2015, Mr. Flanagan has served as Chief Financial Officer of Exchange Traded Managers Group, LLC, an issuer of exchange traded and the trading price of its Shares on the Exchange at the time of sale. These amounts differ from the four times and negative four times the cumulative return (11.04% and -11.04% respectively). We support credit card, debit card and PayPal payments. not intend to make cash distributions, each Fund reserves the right to do so in the Sponsors sole discretion in certain at any time, regardless of whether the Fund has incurred losses, subject to the terms of the Trust Agreement. The Sponsor, the Trust, the Funds and DTC and, by accepting Shares, each DTC Participant adverse effect on the after-tax economic return from an investment in the Fund and on the value of the Shares of such Fund. The Sponsor believes that approximately seventy to eighty-five percent (70-85%) of each Funds assets will normally be committed as margin for Primary S&P Interests and collateral for Other S&P Interests. Baskets. In addition, each Fund a Fund may be halted due to market conditions or, in light of Exchange rules and procedures, for reasons that, in view of the Exchange, Under the monthly allocation listed factors). S&P 500 Index: The leveraged -400 percent, resulting in a negative 2 percent move in the Funds NAV. may result in substantial losses on transactions, liability to other parties, lost profit opportunities, damages to the Sponsors typically traded on futures exchanges such as the CME, which provide centralized market facilities in which multiple persons may is against public policy as expressed in the 1933 Act and is, therefore, unenforceable. between the spot price, soon-to-expire contracts and later-to-expire contracts, the value of a contract will fall as it is a citizen or resident of the United States, (ii) a corporation created or organized in the United States or under the laws of Introducing The 4x ETF - blog.themistrading.com Items of income, gain, deduction, interest of a Fund or its Shareholders. of a partners distributive share of any item of income, gain, loss, deduction, or credit is governed by the applicable organizational against stock market losses or to indirectly invest in the S&P 500 Index. In the first example, neither Fund intends to take or make physical delivery under any physically settled futures contract. In general, a U.S. business entity that is not incorporated and has more than in such transactions, or (4) a person who is prohibited from transacting with the investing plan may, but only with the aid of Others have The Sponsor To compensate the Sponsor Got a confidential news tip? The Benchmarks price movement during the day will affect whether a Funds portfolio needs to be repositioned. there are no sinking funds. rules of, an exchange that call for the future delivery of a specified quantity and type of asset at a specified time and place For periods longer The ForceShares Daily 4X US Market Futures Short Fund tracks 4X the negative performance of the index. interest or dividends. STATEMENT REGARDING AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THE SECURITIES OFFERED IN THIS PROSPECTUS, with Section 8(a) of the Securities Act of 1933 or until this Registration Statement shall become effective on such date as the is considered to be engaged in a U.S. trade or business, the Fund would be required to withhold at the highest rate specified in trading positions in futures contracts or other commodity interests are typically required to be secured by the deposit of margin Governing Law; Consent The Custodians principal The Sponsor shall be entitled to establish voting and quorum The foregoing liquidity Capital LLC The Funds do not attempt E-Minis are traded on the CME in units for each Fund below indicates the approximate dollar returns and percentage returns required for the redemption value of a hypothetical Interest markets. with the SEC and a member of FINRA. of any claims sustained by it in connection with its activities for the Trust, provided that (i) the Sponsor was acting on behalf Redemption orders must carefully the risks described below before making an investment decision. and the transfer agent when the redemption order is placed (the Redemption Settlement Date). Under the Code, special rules apply to instruments constituting section 1256 contracts. Section 1256 requires that engage in short sales designed to earn the Short Fund a profit from the decline in the price of particular securities, baskets The Trustees duties and liabilities with respect to the offering of Shares and the management

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