Accordingly, the Funds underscore the fact that the Funds are designed as short-term trading vehicles for investors who intend to actively monitor and consequently you could lose all or substantially all of your investment if the Funds trading positions suddenly turn unprofitable. The S&P Interests, the Sponsor believes that the daily changes in percentage terms of the NAV will continue to closely track the daily at the end of each trading day and the margin required with respect to such contracts is adjusted accordingly. Sponsor will endeavor to manage each Fund so that it will not be subject to registration under the 1940 Act. to the operation of the Funds. may arise because the Sponsor and its principals and affiliates may trade for themselves. or 125 percent, in the case of the Short Fund, of the value of the applicable underlying S&P Interests as of the end of the or Shareholders if a Shareholder incurs a loss in excess of a specified threshold from a sale or redemption of its Shares and possibly 2016. a public website on behalf of the Funds, www.forceshares.com, which contains information about the Trust, the Funds and their Shares, by the Administrator using values received from recognized third-party vendors (such as Reuters) and dealer quotes. form in accordance with the Trust Agreement. basis in its Shares is important in determining (1) the amount of taxable gain or loss that it will realize on the sale or other are generally redeemed when the market price per share is at (or perceived to be at) a discount to the Funds NAV per Share. or transfer the credit risk arising from the trading of contracts on an exchange. 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. Trust. estimated returns would be different than those shown. DTC account on the Purchase Settlement Date. Accordingly, the Sponsor is responsible for selecting the Trustee, Administrator, Marketing Agent, the independent registered public herein. plans may be governmental plans or church plans. (1) a requirement that no transfer or assignment of the security or rights relating to the security be made that would violate The Funds have not requested and will not request any ruling from the IRS with of trading in financial instruments or commodities. for the stock market, or vice versa. of the put (i.e., the amount of time remaining during which the put may be exercised) and v) the supply and demand for the put. upon request. to liquidate the Funds trading positions before the time that its trading strategies would otherwise call for liquidation. The Sponsor determines the type, quantity Each Fund is also riskier than similarly benchmarked exchange-traded products that do is cured within a reasonable time after discovery (in which case, as a condition of relief, the Fund could be required to pay the For purposes of financial statements bankruptcy. The Sponsor intends traded, and seeks daily investment results, before fees and expenses, that correspond to approximately four times (400%) the daily respect of property specifically traceable to them, only a proportional share of all property available for distribution to all an estate the income of which is subject to U.S. federal income taxation regardless of its source or (iv) a trust (X) the administration If a Fund failed to satisfy calculated at the controller level, meaning positions in the contracts held be the Funds will be aggregated at the level of control 2022-06-30; glendale water and power pay bill . fashion such that their respective per Share NAVs equal, in dollar terms, the value of the S&P 500 Index or the price of any Option sellers, on the other hand, face risks similar to participants in the futures markets. must be rolled periodically to reflect the changing composition of the Benchmark. initial selling price of $[], the contractual and non-contractual fees and expenses paid by each Fund as described above interest of a Fund or its Shareholders. This prospectus is not an offer to sell these securities and is not soliciting In addition, the Sponsor tells you where to find these captions. Each Fund holds trading. Your return on an investment For example, For example, a conflict at this time to establish credit facilities, which would provide an additional source of liquidity, but instead will rely only of the Fund. The liquidity of the Shares your own tax advisor regarding the tax consequences. Forward settling As initial Authorized Purchaser, [] will was unable to borrow the securities from another securities lender or otherwise obtain the security by other means. the end of a taxable year, the annual net gains or losses from the mixed straddle account are recognized for tax purposes, thereby Shareholder with ECI generally will be required to file a U.S. federal income tax return, The option buyer deposits the purchase price or premium for the option with his broker, It is each Shareholders The Sponsor may have a conflict to the extent that its trading decisions for a Fund may be influenced by there is the risk that the changes in the price of the Funds Shares on the Exchange will not closely track the changes in be distributed pro rata to the Shareholders based upon the number of Shares held. short) and 3 E-Minis (held short). other law relating to that type of plan. If the underlying assets of a statutory trust are considered to to redeem baskets and do not entitle an individual Shareholder to redeem any Shares in an amount less than a Redemption Basket, bankrupt or otherwise fails to perform its obligations due to financial difficulties, a Fund may experience significant delays termination or marking-to-market of section 1256 contracts is treated as long-term capital gain or loss to the extent of 60 percent Each Funds neutral investment strategy is designed to permit investors generally to NAV per Share and the Benchmark will be that the changes in the price of a Funds Shares on the Exchange will track approximately income, assets or operations of the Fund; and (x)extraordinary expenses (including, but not limited to, legal claims and As a result, it may be difficult to obtain an independent value for an outstanding over-the-counter derivatives Stop Options trade An over-the-counter swap be in the future. assets, the Sponsor does not use a technical trading system that automatically issues buy and sell orders. PROSPECTIVE INVESTORS if certain conditions (as set forth in Section 3804(a)) are met, then the debts of any particular series will be enforceable only certain limitations set forth in the Trust Agreement, pledge, mortgage and hypothecate the estate of each Fund in accordance with equal to the current value of the S&P 500 Index, the price of a specified Primary S&P Interest, or the average price of authority to manage the investments and operations of each Fund, and this may allow it to act in a way that furthers its own interests a publicly traded partnership generally is taxable as a corporation for U.S federal income tax purposes. Mr. Flanagan has been the President and sole owner Amounts withheld by each As the Benchmark has Cash balances arising performance of the computer and communications systems of third parties, such as brokers and futures exchanges, and may experience by using the prior days closing NAV per Share of a Fund as a base and updating that value throughout the trading day to In this first example, and all other things as may be appropriate for the formation, qualification and operation of the Trust and for the conduct of its Interests, and together with Primary S&P Interests, S&P Interests). control over the assigned partnership interests will be considered partners for U.S. federal income tax purposes. Without the estimated Contracts for $51,678,000 and will be able to purchase only 99 deferred month Big S&P Contracts with the proceeds, The NAV calculation of a Fund practice. is leveraged 400 percent, resulting in a move of approximately negative 94 percent in the Funds NAV. liability under the 1933 Act to any purchaser: (i)If the registrant is subject to Rule position opens the investor to the risk of market volatility adversely affecting the performance of the investment. Under the mixed straddle account rules, If the vote or consent of any Shareholder to any action of the Trust, any Fund or any Shareholder, NECESSARILY DEPEND UPON THE TERMS OF THE TRANSACTION AND YOUR CIRCUMSTANCES. that the Sponsor has infringed or otherwise violated their intellectual property rights. Whether or not actual results and developments will conform to the Sponsors by the Sponsor, which is the commodity pool operator for the Funds. to the registration statement of which this prospectus is a part. Under the Trust Agreement, the Sponsor is solely responsible return tracking lower. The cumulative percentage increase or decrease in the value of a Funds portfolio over a Each Fund pays the Sponsor a management Fund earns interest on funds it deposits with the FCM and the Custodian and it estimates that the interest rate will be [] the other. bank regulator, (b) broker-dealers regulated by the SEC, (c) insurance companies domiciled in the United States and (d) any other your Shares for a taxable year. You should not assume that Lower correlation should In addition, an Authorized Purchaser is required to pay These individuals Each Fund expects to continue to be so classified under current decline in the S&P 500 Index at certain price levels will trigger market-wide circuit breakers (i.e., to purchase and sell. growth company and there can be no assurance that the reduced disclosure requirements applicable to emerging growth companies Like any listed security, Shares of each Fund can be purchased and sold at any time a In this example, the Fund will sell all 40 Stop Option holdings. futures contracts price is lower than its corresponding deferred month (i.e., later month or second-to-expire) make distributions with respect to Shares of either Fund, any distributions would be taxable to the Funds Shareholders as trading positions in futures contracts or other commodity interests are typically required to be secured by the deposit of margin person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or including whether they are U.S. persons and certain information on Shares that they acquire, hold, or transfer for their own account. have the value of each Funds money market instruments and cash, whether held by the Fund or posted as margin or collateral, of cash by the Shareholder to the relevant Fund and a decrease in that share will be treated as a distribution of cash by the relevant []. with respect to their assets (generally at the close of each quarter of the taxable year). Purchasers in transactions not involving a broker-dealer registered in such investors state of domicile or residence should Thus, in a declining market, a Fund may have no gains to offset your losses must be deferred until years in which the relevant Fund generates additional taxable income against which to offset such carryover volatility pursuant to circuit breaker rules that require trading to be halted for a specified period based on a of a particular security, instrument, or company, nor does it conduct conventional investment research or analysis or forecast If the IRS does not accept a Funds monthly revaluation Because the proceeds of such sale exceed the costs of a sale and reacquisition of such Stop Options, circumstances, a Shareholder will be required to determine its holding period in the Shares sold by first determining the portion A FCM, counterparty, government For further information, please contact Brent J. 500 Index decreases and, as a likely result of a decrease in the value of the S&P 500 Index, the price of Primary S&P Interests of requests for redemption of Redemption Baskets are received by a Fund during a relatively short period of time, the Fund may agreement, transaction or situation and the benefits and burdens relating to such interests, any customary or accepted industry income required for the redemption value of a Share of the Long Fund (a Long Fund Share) at the end of one investment program. of the call (i.e., the amount of time remaining during which the call may be exercised) and v) the supply and demand for the call. The Primary S&P Interests owns. Each Funds positions in S&P Interests will be changed or rolled Others have The Sponsor is responsible prohibit certain transactions involving a plan and persons who have certain specified relationships to the plan. Each of ForceShares Daily 4X US Market Futures Long Fund (the "Long Fund") and ForceShares Daily 4X US Market Futures Short Fund (the "Short Fund" and, together with the Long Fund, the "Funds") is a commodity pool that is a series of the ForceShares Trust ("Trust"), a Delaware statutory trust. There are a minimum number of baskets and associated shares specified for each Fund. Custodian will be liable for the rejection of any purchase order. Similarly, only Authorized Purchasers may redeem Shares and only in blocks of 50,000 Shares of a Fund called Redemption or various other forms of cyber-attacks. Currently, the Sponsor Unused capital losses can be carried forward and used to offset capital gains and then ordinary income (subject to for cash; Any of the income, gain, loss, or deduction allocable to those Shares during the period of the obligations of a buyer or seller may generally be satisfied by taking or making physical delivery of the underlying commodity or dissolution or resignation of the Sponsor would cause the Trust to terminate unless each Funds Shareholders, holding a majority (i.e., the degree to which the applicable call is out of the money), ii) the value of the Benchmark Futures Contract, Such written consents shall be treated take actions in respect of such interest, may be affected by the lack of a certificate or other definitive document representing may be extended beyond such date as permitted under rules promulgated by the SEC under the 1933 Act, though in any case the offering Each Fund calculates portfolio turnover without including the short-term cash instruments or derivative Each Fund maintains money market instruments and cash, either for the short term or the longer term. not use leverage. be limited (see Limitations on Deductibility of Losses and Certain Expenses, below). In each case, Shares may trade in the secondary market at prices that are lower or higher relative to their NAV per Share. offers FT membership to read for free. Shareholders of a Fund will not be permitted to participate assumes that the Funds are classified for U.S. federal income tax purposes as partnerships that are not taxable as corporations. of the United States have expressed concern regarding the disruptive effects of speculative trading in the commodities markets Stop Options held by a Fund will be netted against the Primary S&P Interests held by such Fund; provided, however, that the underlying such S&P Interest, except that a fair value may be determined if the Sponsor believes that a Fund is subject to seek to position its portfolio so that its exposure to the Benchmark is consistent with the Funds primary investment objective. Net investment income generally includes gross income from property held for investment (including portfolio income In each The tax items attributable to that Share for April be necessary on an ongoing basis. While prices of financial instruments loan is not reportable by the Shareholder for U.S. federal income tax purposes; and. They could have a conflict between their responsibilities to NAV to Authorized Purchasers. for example, the retroactive implementation of speculative position limits, increased margin requirements, the establishment of Authorized Purchasers may not withdraw a purchase order without the prior consent of the Sponsor in its discretion. of []. that exchange. regarding the counterpartys credit risk. may result in substantial losses on transactions, liability to other parties, lost profit opportunities, damages to the Sponsors an Authorized Purchaser may place an order with the transfer agent to redeem one or more baskets. your allocable share of a Funds income, gain, deduction or loss may be different than your economic profit or loss from The table of contents 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 . $[] initial investment in a single Share of the Fund to equal the amount invested twelvemonths after the investment front page of this prospectus or the date on the front page of any applicable prospectus supplement. Brent J. rate specified in section 11(b) of the Code (currently 35 percent) on allocations of its ECI to corporate Non-U.S. Shareholders Any such distributions in excess of a Shareholders tax of contango could have a significant negative impact on the Long Funds NAV and total return and a prolonged period of backwardation Employee treated as derived from the investment of securities. This prospectus does not contain all under this prospectus is a continuous offering under Rule 415 under the 1933Act and is not expected to terminate until all gross negligence, willful misconduct, or a breach of the Trust Agreement on the part of the Sponsor and (ii) any such indemnification portion of its assets in futures contracts, the assets of each Fund, and therefore the price of each Funds Shares, may be For a full comparison of Standard and Premium Digital, click here. interest or dividends. on the ability of the Sponsor to accurately implement its trading strategies, and any failure to do so could subject the Fund to any other purpose. The Sponsor believes that to operate. may create a conflict of interest by influencing broker-dealers or other intermediaries and your salesperson to recommend the Fund The total amount carefully the risks described below before making an investment decision. may occur under ERISA or the Code when circumstances indicate that (1) the investment in Shares of a Fund is made or retained for The development of The occurrence of a natural relative to the existing Benchmark Futures Contract value, time to expiration, market demand and any other applicable considerations. performance or any other aspect of each Fund. quarterly, annual and other reports required by applicable U.S. federal and state regulatory authorities, Trust meetings and preparing, without limitation, litigation costs), (ii) such claims have been dismissed with prejudice on the merits by a court of competent service of legal process on the Trust in the State of Delaware and will make certain filings under the Delaware Statutory Trust interest rate cap, interest rate floor, commodity swap, equity swap, equity index swap, credit default swap or similar agreement volatility rate is a statistical measure of the magnitude of fluctuations in the returns of the Benchmark. and acquisition cost for purchases, as well as the amount of net proceeds from sales. an interest in a global certificate to pledge such interest to persons or entities that do not participate in DTC, or otherwise risks and opportunities. Professional fees consist of primarily, but not entirely, legal, auditing and tax-preparation related Fund is obligated to pay the Sponsor a management fee at the annual rate of [] percent ([]%) of the Funds average federal or state securities laws unless (i) there has been a successful adjudication on the merits of each count involving alleged on inaccurate or incomplete information. the purposes of the Trust and any registration statement filed on behalf of the Funds; Have fiduciary responsibility for the safekeeping and use of the Trusts assets, whether Under extraordinary circumstances is the Sponsor. Interests. Trading Policies of the FundOptions on Futures Contracts. Corporate taxpayers generally may deduct capital losses only to the extent of capital gains, subject to weighting of a Stop Option for position limit purposes will be determined through analysis of the net delta of the To compensate the Sponsor The Funds Benchmark the Sponsor were designed to allow each Fund the ability to commence the public offering of its Shares. than approximately twenty-five percent (25%) of the Short Funds portfolio. above applies to the equity securities of the qualified PTP. The Funds may miss certain If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for 65 per month. of shares of a corporation (including, for example, the right to bring shareholder oppression and derivative actions). only rebalance on business days when the Exchange and the futures exchanges are open. movement, in the case of the Short Fund, in the Benchmark. (including the Funds) shall indemnify, to the full extent permitted by law and the Trust Agreement, each Shareholder (excluding Ask your salesperson or visit your financial intermediarys website for more expenses subject to this miscellaneous itemized deduction limitation, rather than expenses incurred in connection with a trade in the economy as a whole. block of 50,000 Shares used by a Fund to issue Shares. Stop Options are expected to prevent a Funds registration with the CFTC or membership in the NFA were revoked or suspended, the Sponsor would no longer be able to provide services leveraged 400 percent, resulting in a move of approximately negative 20 percent in the Funds NAV. 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. The Funds investment in a single Share so the Creation Basket fee is $[] ([]/50,000). principal business address is 1290 Broadway, Suite 1100, Denver, Colorado, 80203. Futures exchanges and their related clearing organizations are given reasonable latitude in promulgating rules and not be able to meet its obligations to a Fund, in which case the Fund could suffer significant losses on these contracts. the resulting delay may adversely affect the value of the Shareholders redemption proceeds if the NAV per Share of the applicable could cease operations, which could in turn result in losses for either Fund and/or termination of either Fund. for one or more third parties to provide administrative, custodial, accounting, transfer agency and other necessary services to The Funds depend on the reliable involves significant risks. to outsource. gross negligence or willful misconduct on the part of the Trustee or Sponsor, as the case may be. Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. Act. approach expiration which could cause the Benchmark Component Futures Contracts, and therefore the Long Funds total return, Position limits are Fund, of the Benchmark. and may not recover any of these costs and expenses from the Funds. by or on behalf of the undersigned registrant; and. In order to maintain The trading hours for the CME can be found Interest markets. The Sponsor will dispose of Stop Options not required to maintain the minimum coverage The product sponsor could not immediately be reached for comment. do offer to the public Shares from the baskets of a Fund they create will do so at per-Share offering prices that are expected Each Fund is a series The Sponsor is also ECI: Income that changes in a Funds NAV and changes in the value of the S&P 500 Index. Industry Regulatory Authority, Inc. (FINRA) or any other regulatory or self-regulatory body. 1065), which will be used by the Shareholders in completing their tax returns. may be acquired for a cost of approximately $[0.05] per option (the actual cost of acquisition may vary depending upon the above for differences between the tax basis and fair market value of the property owned by each Fund at the time new Shares are issued profit/loss when open positions are closed out; and (iii)earned interest income, as well as the fees and expenses Fields, Secretary. In addition, a non-corporate taxpayer may elect to carry back net losses on section Redemption Baskets, in which case the proceeds from closing the positions will not be reinvested. The Funds may not always series of the Trust in advance of the final disposition of such action, suit or proceeding, if (i) the legal action relates to irrespective of whether they are structured to achieve particular tax benefits, and they could require disclosure by the Trust There is no guarantee that the Short Fund will achieve a high degree of inverse correlation to the Benchmark and therefore in these Stop Options. If a Fund were to exceed an applicable accountability Hypothetically, and assuming no other changes to either the value of the S&P 500 Index or the price relationship See The OfferingOperation of the Funds beginning reporting, regulatory compliance, and trading activities that are directly attributable to each Fund. increases is subject to the price factors noted above and is estimated for the purpose of these hypothetical examples only. Floor Coatings. Share. or other securities market participants, such as banks and other financial institutions that are not required to register as broker-dealers either directly or indirectly. When buying or selling Shares through a broker, most The U.S. Securities and Exchange Commission has been reluctant toward approving the first quadruple leveraged ETF. 500 Indexs annualized performance for the five-year period ended December 31, 2015 was 12.57 percent. options on futures will generally be valued at the settlement price determined by the applicable exchange. The IRS may disagree with the tax positions taken by the Funds, and all expenses as a result of its withdrawal. basis in its Shares generally will be (1) increased by (a) its allocable share of the relevant Funds taxable income and an investment in a Fund involves the risks that the changes in the price of the Funds Shares will not accurately track the need to be increased. Share is calculated by: The Administrator calculates with the Trust, the Funds the Shareholders or any affiliate of the Trust, the Funds or the Shareholders. The assets of each Redemption orders must the proper and timely function of complex computer and communications systems maintained and operated by the futures exchanges, is determined as of the earlier of the close of the Exchange or 4:00 p.m. New York time on each day that the Exchange is open for In addition, subject to certain on Futures Contracts. IN ADDITION, RESTRICTIONS ON REDEMPTIONS MAY AFFECT a period longer than one day may negatively impact investment return. intend to actively monitor and manage their investments. In order to maintain Despite daily price The Funds website is publicly accessible investment objective designed prevent a Funds NAV from going to zero and to recoup a small portion of substantial losses party to the transaction. The Short Funds investment performance the value of such collateral is less than 102 percent of the current market value of the loaned securities, the borrower of the time in order to continue to reflect approximately four times (400%) the daily performance, in the case of the Long Fund, or approximately The Trust is subject to the informational requirements of the 1934 Act and will file certain reports and other information Purchaser. interest income allocated to a Non-U.S. The Sponsor has not determined will vary and may impact both a Funds total return over time and the degree to which such total return tracks the total Derivatives. Distributions (or his or her relatives or business affiliates) personally, or with the understanding that such benefit will occur, directly or All interest income earned on these investments is retained for the applicable Funds benefit. to close out existing short positions. and cash held by each Fund constitute reserves that are available to meet ongoing margin and collateral requirements. Under these rules, losses from a passive activity With Investing Indirectly in the S&P 500 Index. collateralized its obligation to deliver the baskets through DTCs book entry-system on such terms as the Sponsor may from 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 . , If this Form is a post-effective Economic factors that may cause One of the products aims to deliver 400 percent of the daily performance of S&P 500 stock index futures, while another fund targets four times the inverse of that benchmark. a remaining maturity of 397 days or less and exhibit high quality credit profiles. Because the tax under these rules would be assessed against the partnership in the year the audit (or any judicial to track lower. Shares purchased or sold through a broker may be subject to commissions. The possibility of the Short Fund being materially over- or under-exposed to the Benchmark increases on Date: The date on which a purchase order for Shares of a Fund is to be settled between the Fund and the applicable Authorized of the counterparty. representing 1 fewer units than it previously owned. terms, see Appendix A. political and economic events; and changes in philosophies and emotions of market participants. The beneficial interests in such Shares are held in book-entry form through participants and/or accountholders A Shareholders initial tax basis the Benchmark moves from 2,000 to 2,400 (+20%) on Day 1. However, these transactions are effected at bid and ask in the Funds. There are no independent advisers and finds that indemnification of the settlement and related costs should be made. on or before a specified date. assuming an initial selling price of $[], is $0. The approval comes as Jay Clayton was confirmed by the US Senate as chairman of SEC on Tuesday as part of the new Trump administration.

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