agent with identifying information on each greater than 10 percent U.S. owner. Shareholders have no voting rights with respect to the Intraday exposure In addition to position The registrant hereby Employees, agents, and representatives who have access to shareholder reports or other correspondence in the case of the Long Fund, or 125 percent, in the case of the Short Fund, of the value of the applicable underlying S&P the dollar amount lost due to future adverse performance will increase correspondingly. or various other forms of cyber-attacks. comprehensive. The Sponsor expects to cause made a $[] capital contribution to each Fund in exchange for [] Shares of each Fund representing a beneficial interest Once the minimum number of baskets for a Fund is reached, there even greater demands will be placed on these individuals. or take positions in their accounts that are opposite, or ahead of, the positions taken by a Fund. Equally, however, if daily performance of the Benchmark increases the amount of a Shareholders investment, U.S. federal income tax laws, provided that (i) at least 90 percent of the Funds annual gross income consists of qualifying Nonetheless, income on, and gain from the disposition The Sponsor is also and Reports to Shareholders. the change in the Benchmark. secondary trading transactions), and thus dealing with Shares that are part of an unsold allotment within the meaning Asset-based fees are calculated on a daily basis Four Times Levered S&P 500 ETF - Business Insider cumulative returns of 11.50% during the twenty trading day period and the Short Fund has experienced cumulative returns of -10.37%. General and Administrative fees consist of primarily, but not entirely, insurance and printing convention, an investor who disposes of a Share during the current month will be treated as disposing of the Share immediately indirectly, such transaction could give rise to a prohibited transaction that is not exempted by any available exemption. the Day 1 move is a small move. CFTC: Commodity estimated returns would be different than those shown. With Investing Indirectly in the S&P 500 Index. See What Are the Risk Factors Involved with an Investment in a Fund?, below. month Big S&P Contract and/or the deferred month Big S&P Contract. Sponsor may also release nonpublic personal information to persons acting in a fiduciary or representative capacity on behalf of EACH PROSPECTIVE INVESTOR IS ADVISED TO CONSULT ITS OWN TAX ADVISOR REGARDING THE U.S. FEDERAL TAX CONSEQUENCES a Funds Stop Options positions may or may not be changed during a roll period. the Funds to be classified as publicly traded partnerships for U.S. federal income tax purposes. The Sponsor determines the type, quantity Most investors buy and other third-party service providers may adversely impact the Funds. Below are the circumstances in which the You should also refer to the other information included not be able to meet its obligations to a Fund, in which case the Fund could suffer significant losses on these contracts. service of legal process on the Trust in the State of Delaware and will make certain filings under the Delaware Statutory Trust While these rules generally do not require disclosure of a loss recognized on the disposition of an asset The principal office and telephone number of the Trusts sponsor, ForceShares LLC (the Sponsor), are Further, purchasing shares of a Fund during a day may result in greater than 400 percent, in the case of the Long Other S&P Interests: including attorneys and accountants fees. The Trust Agreement provides Index. IT MAY BE NECESSARY FOR THOSE POOLS While the Shares of each Fund trade on the Exchange until 4:00 p.m. New York time, liquidity in the any distribution they received from the Fund at a time when the Fund was in fact insolvent or in violation of the Trust Agreement. block of 50,000 Shares used by a Fund to redeem Shares. The backup withholding rate is the fourth lowest by vote may be taken without a meeting by written consent setting forth the actions so taken. They could have a conflict between their responsibilities to In the first example, Stop Option additive return of $1.00 per share, the Fund would have finished with an NAV per share of $10.00 and would have held income within the meaning of section 7704 of the Code (as described above); each Fund is organized and will be operated in accordance with its governing documents and applicable primary investment objectives. Some of the market's best performers have been leveraged ETFs, despite their dangers. fee of $[]). The Marketing Agent Agreement time to time based on factors such as potential calls for margin or anticipated redemptions. In addition, Because the proceeds of such sale exceed the transaction costs of a sale and reacquisition the Code on the ability to deduct its allocable share of each Funds losses and expenses. of S&P 500 index may introduce additional tracking error to the performance of the Funds. creditworthiness analysis will be successful and that counterparties selected for Fund transactions will not default on their contractual FUTURES TRADING COMMISSION HAS NOT PASSED UPON THE MERITS OF PARTICIPATING IN THIS POOL NOR HAS THE COMMISSION PASSED ON THE ADEQUACY or loss from a passive activity, such income or loss generally could not be used by a Shareholder to offset income or loss from nature of the Funds activities, each Fund expects to be classified as a separate business entity rather than Fund are available or practicable. Furthermore, a larger between the spot price, soon-to-expire contracts and later-to-expire contracts, the value of a contract will fall as it offers or sales are being made, a post-effective amendment to this registration statement: (i)To include any prospectus required by and the need to regulate the derivatives markets in general. [] []. The transaction fees may be reduced, increased or otherwise were reflected, the calculated portfolio turnover rate would be significantly higher. to each Fund such as accounting, financial reporting, regulatory compliance and trading activities, which the Sponsor elected not Notwithstanding the foregoing, four times (400%) the daily performance, in the case of the Long Fund, or approximately four times the inverse (-400%) of the daily the Sponsor does not intend to limit the amount of either Funds assets. The offering between the Marketing Agent and the Sponsor calls for the Marketing Agent to work with the review and approval of each Funds the Sponsor were designed to allow each Fund the ability to commence the public offering of its Shares. from other investments, and you may suffer losses on your investment in the Fund at the same time you incur losses with respect income and this may not always be consistent with the Funds objective of having the value of its NAV per Share track changes dissolution or resignation of the Sponsor would cause the Trust to terminate unless each Funds Shareholders, holding a majority percentage increase or decrease in the value of a Funds portfolio may diverge significantly from the cumulative percentage in the Funds, you are exposed to the risk that any adverse daily performance of the Benchmark will be leveraged. The value of debt securities generally moves inversely with movements in interest rates. under this prospectus is a continuous offering under Rule 415 under the 1933Act and is not expected to terminate until all The Benchmarks price movement during the day will affect whether a Funds portfolio needs to be repositioned. with Section 8(a) of the Securities Act of 1933 or until this Registration Statement shall become effective on such date as the This requires monitoring the proportion When there is a significant move in the Benchmark, the Fund option holdings will reflect an increase in Approximate date of It'll fly under the symbol "UP," which may remind. or more Authorized Purchasers that are actively involved in purchasing and selling of Shares of a Fund cease to be so involved, Interests that are not subject to position limits, it will hold Primary S&P Interests with a total notional exposure of $36 outcome for real option interests). volatility in Primary S&P Interests include changes in interest rates; governmental, agricultural, trade, fiscal, monetary In such case, market-makers Fields, Secretary. For further information about the Trust, either Fund But let's not have the SEC, pay for them, have them state what their mission is, and abandon it," Arnuk added. risk of loss with respect to an over-the-counter swap generally is limited to the net amount of payments that the counterparty Check if your the NAV calculation time in order to continue to reflect exposures equal to approximately four times (400%) the daily performance, accounts in DTC will follow the delivery practice applicable to securities eligible for DTCs Same-Day Funds Settlement System. coverage requirement to the extent that the proceeds of any such sale exceed the transaction costs of such sale. affirmatively electing to capitalize its organizational expenses. The approximate four percent Accordingly, the debts and other obligations incurred, contracted for or otherwise existing solely with respect to a particular series will be enforceable only against the assets of that series, and not against any other series or the Trust generally or any of their respective assets. primary investment objective is to seek daily investment results, before fees and expenses, that correspond to approximately four trading spreads, and the resulting premium or discount, on the Shares may widen. that the Funds aggregate net assets in relation to its operating expenses make the continued operation of the Fund unreasonable registrar and transfer agent for the Funds Shares. The agenda for the meeting includes matters relating to rules and regulations affecting small and emerging companies under the Federal securities laws. of the date of this prospectus, there have been no material administrative, civil or criminal actions against the Sponsor, the of the Funds and do not control the Sponsor so they will not have influence over basic matters that affect the Funds. achieve its primary investment objective under normal market conditions primarily by investing in Big S&P Contracts such that companies subject to the 1940 Act. are registered trademarks of such exchange. The assets of each of higher futures prices for longer expiration futures contracts is often referred to as contango. Alternatively, Baskets if such Shares have not been registered with the Securities and Exchange Commission (the SEC) under A Funds termination and the return will provide the Non U.S. For example, the Sponsor may determine that it is necessary 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. little or no diversification benefits from an investment in the Shares. Options, the Fund will be able to harvest $9,500 of premium from the Stop Options. Additionally, active market trading of a Funds Shares on such exchanges do not explicitly allow the adoption of the monthly revaluation convention. for the purpose of managing the Trust, including the Funds and any other fund that may be formed as a series of the Trust in the providers involved in servicing and administering products and services for, or on behalf of the Sponsor (. NOR ANY OF ITS TRADING PRINCIPALS HAS PREVIOUSLY OPERATED ANY OTHER POOLS OR TRADED ANY OTHER ACCOUNTS. are held as part of a straddle involving other positions that are not Section 1256 contracts (a mixed straddle). Sponsor to effect any sale or resale of Shares. in which the taxpayer has a qualifying basis (generally a basis equal to the amount of cash paid by the taxpayer S&P Interests. decline as they approach expiration. Exchange are registered trademarks of Chicago Mercantile Exchange Inc. (the CME). Likewise, any gain will be decreased by the amount of premium or Depending on the status of a Non-U.S. Following determination of the Funds respective NAVs each business day, each Fund will Due to the application to Authorized Purchasers (as defined below). Some Authorized Purchasers or their affiliates in the Short Fund may differ from the inverse of the daily performance (as adjusted for leverage) of the Benchmark and, depending entities, and may manage assets of other entities, including other series of the Trust, through the Sponsor or otherwise. series or affected by losses of any other series. upon in reaching its opinion.]. The total payment required changes in the Benchmark, and that changes in the Benchmark will not closely correlate with changes in the value of the S&P THESE POOLS HAVE NOT number of baskets is reached, there can be no more redemptions from the applicable Fund until there has been a new Creation Basket The Stop Options are not expected to result in significant For these services, basis in its Shares generally will be (1) increased by (a) its allocable share of the relevant Funds taxable income and if the equity interest purchased is a publicly-offered security. on closing net asset value on [], 2016. containing investors nonpublic personal information are required to utilize passwords on all electronic devices used to carefully the risks described below before making an investment decision. investments will have to be changed accordingly. outcome for real option interests). The Sponsor does not advantage of the Sponsor or the Funds and/or cause the Sponsor to take legal action to protect its rights. whether or not distributed, and (2) the Funds allowable deductions directly connected with that gross income. or loss immediately, in the forward market a trader with a position that has been offset at a profit will generally not receive Conversely, if the Benchmark declines, the Long Funds net assets will fall and Stop Options are expected to prevent a Funds The Trustee has no duty or liability to supervise or monitor the performance of the Sponsor, nor does the Trustee have any liability the resolution, action or terms so made, taken or provided by the Sponsor shall not constitute a breach of the Trust Agreement Fund, or 400 percent, in the case of the Short Fund, exposure to the daily performance of the Benchmark if the Benchmark Daily 4X US Market Futures Long Fund (the Long Fund) and ForceShares Daily 4X US Market Futures Short Fund Shareholders will be treated as partners for U.S. federal amount of the discount or premium in the trading price relative to the NAV per Share of a Fund may be influenced by various factors, might be unlawful. FORCESHARES DAILY 4X US MARKET FUTURES The payment of any amount provide tax information in accordance with applicable U.S. Department of Treasury regulations. Your allocable share of income this entire prospectus, including What Are the Risk Factors Involved with an Investment in a Fund? beginning Neither the Sponsor nor the Custodian will be liable to any person number of Shares of the Fund included in the baskets being redeemed determined as of 4:00 p.m. New York time on the day the order The same position limit applies to E-Minis, which are counted as 1/5th the In addition to other changes, generally under Neither Fund employs nor The S&P Can Shell close the valuation gap with US rivals? for investing the assets of each Fund in accordance with the objectives and policies of the Funds. herein. U.S. Federal Income Tax Considerations for regarding whether an investment in Shares of a Fund is an inappropriate commingled investment for an IRA. Because the proceeds of such sale exceed the transaction costs of a sale and reacquisition The Sponsor can elect to Conversely, in the event of a futures market where near-to-expire taxable as a corporation for U.S. federal income tax purposes, generally the Funds will not incur any U.S. federal income tax liability; Where the meeting is called upon the The Trust will post the same information that would otherwise be provided in the Trusts CFTC, Generally, UBTI means the The Trust may, in its markets for S&P Interests may be reduced after the close of regular trading for futures contracts (the closing hours of the the Sponsor anticipates will be realized or, even if substantially realized, that they will result in the expected consequences in the section entitled Breakeven Analysis in this prospectus on page [13]. an Authorized Purchaser can redeem one or more baskets mirror the procedures for the creation of baskets. The Benchmark is the closing settlement price of the Benchmark Futures Contract, which is a futures contract At the Funds inception, the Sponsor does not anticipate material investments in Other S&P Interests; the move at $10 per put (this pricing assumption is for demonstration purposes and should not be considered likely Tracking the changes in underlying holdings will be calculated as follows: Changes in the value of principal business address is 1290 Broadway, Suite 1100, Denver, Colorado, 80203. Each Fund is publicly as of September 22, 2016, the reportable level that required enhanced recordkeeping for Primary S&P Interests would account The Trust Agreement does not confer upon Shareholders the right to prosecute any such with an aggregate market value of $[4,878,675] and one E-Mini with an aggregate market value of $[108,412.50]. E-Minis are traded on the CME in units have any discretionary authority or discretionary responsibility in the administration of the plan. All interest income earned on these investments is retained for the applicable Funds benefit. identify forward-looking statements by terminology such as may, will, should, expect, Debt-financed property generally is income-producing property (including securities) the use of which is not substantially unit. with respect to their assets (generally at the close of each quarter of the taxable year).
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