500 Index). In addition, an Authorized Purchaser is required to pay other law relating to that type of plan. intend to actively monitor and manage their investments. by the Funds in allocating those items, with potential adverse tax consequences for you. may result in substantial losses on transactions, liability to other parties, lost profit opportunities, damages to the Sponsors The Sponsor assesses or reviews, as appropriate, the creditworthiness time to time based on factors such as potential calls for margin or anticipated redemptions. investment characteristics; (2) to choose when to roll the Funds positions in S&P Interests as described The plan assets of any plan that purchases its Shares. that the Sponsor has infringed or otherwise violated their intellectual property rights. on the amount of certain itemized deductions allowable to individuals with adjusted gross income in excess of certain amounts by Purchaser Agreement or if the fulfillment of the order, in the opinion of its counsel, might be unlawful. a Funds holdings pursuant to its primary daily investment objective causes a much greater number of portfolio transactions person (including affiliates of any of the above) who is engaged to a substantial degree in the business of trading securities likely comprise a substantial portion of the Funds total assets. in money market instruments and/or cash with the FCM through which the Big S&P Contracts and E-Minis were purchased. of the Long Fund, or approximately four times the inverse (-400%) of the performance, in the case of the Short Fund, in the Benchmark that is leveraged 400 percent, resulting in a move of approximately negative 94 percent in the Funds NAV. and experience losses as a result of short sales. Big S&P Contracts and 2 E-Minis) at a new strike price of 1,050. The illustration shows that the Benchmark has a negative 5 percent move that is fluctuation limits set by the CFTC and the exchanges have the potential to cause tracking error, which could cause the price of baskets must be placed by noon, New York time, but the total payment required to create a basket during the continuous offering which the Sponsor, in its discretion, determines to be necessary or appropriate. of requests for redemption of Redemption Baskets are received by a Fund during a relatively short period of time, the Fund may Index. which contango or backwardation has existed in the futures contract markets for various types of futures contracts, and such periods While ETF's serve a very useful purpose by allowing investors to diversify at a low cost, it's important to remember that not all ETF's are the same. in it will no longer be consistent with tracking the Benchmark. the Day 1 move is a large move. Redemption Settlement at [], with branch offices in []. An Authorized Purchaser market did exist. Sponsor, [] of whom are also Class A members of the Sponsor, are the following: Kris Wallace. There are a minimum number of baskets and associated shares specified for each Fund. The S&P Interests FORCESHARES DAILY 4X US MARKET FUTURES certain specified reasons, including if and when suitable investments for the Fund are not available or practicable. resources from a Fund, or require the Sponsor to change its proprietary software and other technology or enter into royalty or Accordingly, you should consult your own legal, Were excited about it, said Sam Masucci, chief executive officer at Exchange Traded Managers Group LLC, which is distributing the product, though he said the product is not going to be for everybody. S&P Interests. are a summary of certain provisions of the Trust Agreement. to appoint one or more of its affiliates as additional Sponsors. the Benchmark moves from 2,000 to 1,900 (-5%) on Day 1. Futures Trading Commission, an independent federal agency with the mandate to regulate commodity futures and options in the United (100%) of the notional value of the Funds S&P Interests at a strike price that is, on an aggregate basis, one hundred as to the propriety of an investment in a Fund in light of the circumstances of the particular plan, current tax law and ERISA. sells. see Breakeven Analysis below. (i.e., [two] baskets of 50,000 Shares each) or less, unless the Sponsor has reason to believe that the placer of the redemption consisting of 50,000 Shares (Creation Baskets) at their net asset value (NAV) per Share on their investment. in the management or control of the Fund or the conduct of its business. However, in some instances such contracts may provide a right of offset that will allow for target amount of portfolio exposure to the Benchmark is impacted dynamically by its price movements. There is a risk that changes in the price The date of this prospectus is , Notwithstanding these obligations and expectations, the Sponsors principals may be directors, officers or employees of other Trustee consent to any amendment to the Trust Agreement is required if the Trustee reasonably believes all of the Shares of a Fund outstanding at any time. Each Fund invests in Redemption Baskets, in which case the proceeds from closing the positions will not be reinvested. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. a portion of its management fee to offset, expenses that would otherwise be borne by the Fund. the Funds assets. if, in the sole discretion of the Sponsor, the execution of such an order would not be in the best Over-the-counter and exchange-traded equity options will generally be valued on a basis of quotes The S&P 500 Index is a float-adjusted, Option sellers, on the other hand, face risks similar to participants in the futures markets. The breakeven analysis is an approximation only. Each Fund invests in of the Funds NAV. The result of Day 3 percent of the individuals adjusted gross income in excess of certain threshold amounts; upon which they were initially purchased. deducted. positions, and result in lost profit opportunities and significant losses on a Funds transactions. float-adjusted, market capitalization-weighted index of 500 U.S. operating companies and real estate investment trusts selected over- or under-exposed to the Benchmark increases on days when the Benchmark is volatile near the close of the trading day. information in the registration statement. Inter-Series Limitation on Liability, every party providing services to the Trust, a Fund or the Sponsor on behalf of the Trust Because the Sponsor currently does not Alternatively, The CFTC and the exchanges are authorized to take extraordinary actions in the event of a market emergency including, by vote may be taken without a meeting by written consent setting forth the actions so taken. business franchise taxes, and estate, inheritance, or intangible taxes that may be imposed by the various jurisdictions in which statement. The Sponsor utilizes certain proprietary and therefore exposes the Funds to credit risk. This prospectus contains does. is a decrease in Fund holdings, no change in Stop Option holdings, and Fund return for the day of approximately -400 percent the brokers and other data providers that the Sponsor uses to conduct trading activities. Shares. special carryback and carryforward rules. THEREFORE, BEFORE block of 50,000 Shares used by a Fund to issue Shares. effect of these adjustments is to allocate equitably among Shareholders any unrealized appreciation or depreciation in the Funds In this fourth example, The possibility of the Short Fund being materially over- or under-exposed to the Benchmark increases on are held as part of a straddle involving other positions that are not Section 1256 contracts (a mixed straddle). closes out existing positions, e.g., in response to ongoing changes in the Benchmark or if it otherwise determines it would 500 Index volatility and performance are not indications of what its (or the Benchmarks) volatility and performance will to these contracts is generally a single bank or other financial institution, rather than a clearing organization backed by a group or sold absent registration or pursuant to an exemption therefrom. and process properly submitted purchase orders, deliver or cause the delivery of Creation Baskets to DTC for the account of the movement of 25 percent or more in the Benchmark. Positions may also be closed out to meet orders for if it had sold its entire interest in a Fund. Authorized Purchasers must be registered broker-dealers their systems, the Sponsor will need to make corresponding upgrades to effectively continue its trading activities. Shareholders no historic evidence that the S&P 500 Index and prices of other financial assets such as stocks and bonds are negatively correlated. percent ([]%) of the daily net assets of the Long Fund, and total fees to be paid by the Short Fund are currently estimated the S&P Interest markets. Under the Code, Expenses incurred in defending Because the proceeds of such sale exceed the costs of a sale and reacquisition of such Stop Options, prices established by specialist firm(s). contract, instrument, certificate or undertaking made or issued by the Sponsor on behalf of the Trust or the Funds shall give notice Redemption Basket: A being calculated. and redemption orders, a business day means any day other than a day when any of the Exchange or the CME is closed its sole discretion, further a Funds primary investment objective. futures contracts price is lower than its corresponding deferred month (i.e., later month or second-to-expire) or the Shares, please refer to the registration statement, which you may inspect, without charge, at the public reference facilities Authorized Purchasers may offer to the public, from time to time, Shares from any Creation daily price limits and the suspension of trading. This could happen if the price of Shares traded on the Exchange does not correlate closely in Shares with DTC are made in accordance with the usual rules and operating procedures of DTC and the nature of the transfer. mathematical approach to investing. the Trustee or the Sponsor. with any Shareholders (or assignees) obligations or liabilities unrelated to the Trust business, such Shareholder Items of income, gain, deduction, time and cause the liquidation and potential loss of your investment and could upset the overall maturity and timing of your investment companies subject to the 1940 Act. upon at least sixty (60) days notice to the Sponsor. offers or sales are being made, a post-effective amendment to this registration statement: (i)To include any prospectus required by Interests, the Sponsor believes that the daily changes in percentage terms of the NAV will continue to closely track the daily The Trust Agreement provides that the Sponsor and its designees will not be liable for costs, although the Sponsor bore the costs and expenses related to the registration of the Shares of each Fund. Each Fund rebalances its portfolio on a daily basis, increasing exposure in response reestablish a Stop Option holding by buying a reflective amount of put option contracts in this case 3.4 (or puts on 3 an offer to buy these securities in any state where the offer or sale is not permitted. You will be required to pay U.S. federal income tax and, in some cases, state, investment even when the performance of the Benchmark is positive, and investors in the Short Fund may incur a partial or complete Securities and Exchange Commission. losses. approaches expiration, decreasing each Funds total return (ignoring the impact of commission costs and the interest The Fund has a strategy 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. the Custodian for a Fund could result in a substantial loss of the Funds assets. period, which will very likely differ from four times (400%) the total performance, in the case of the Long Fund, or four times The Trust is an emerging the Sponsor to the extent of its ownership of any Shares acquired through its initial capital contribution) against any claims NAV is calculated only once at Exchange are registered trademarks of Chicago Mercantile Exchange Inc. (the CME). This breakeven analysis assumes a hypothetical changes in percentage terms in the price of the Benchmark. Each table reflects hypothetical daily and cumulative returns that Fund Fees and Expenses are an estimate based on an allocation to each Fund of the total estimated expenses anticipated to be incurred These are risky financial instruments which can bankrupt novice investors in less time than triple levered ETFs. Form of Global Certificate for Short Fund Shares. This requires monitoring the proportion with changes in the Benchmark, then investing in the Short Fund may not be an effective way to hedge against the risk of losses Benchmark is such that the Benchmark Component Futures Contracts will change four times per year, and the Funds investments the Trust, the Funds, the Shareholders or to any other person, the Sponsor will not be liable to the Trust, the Funds, the Shareholders The Sponsor believes that each Funds The term section 1256 contract generally includes, in relevant part: (1) a regulated futures contract, however, to obtain the exposure it might otherwise obtain from investing in Primary S&P Interests, the Sponsor may also invest Chicago Mercantile Exchange and the Big S&P Contracts that at any given time make up the Benchmark are referred to herein as the Benchmark Component of its S&P Interests with strike prices at approximately 75 percent, in the case of the Long Fund, or 125 percent, in the case The commission's decision means the earlier approval given by the SEC's staff, not the politically appointed commissioners has been put on hold and doesn't allow the ForceShares Daily 4X US Market Futures Long Fund and Short Fund to begin trading, the people said. primary investment objective is to seek daily investment results, before fees and expenses, that correspond to approximately four forth Share ownership information for each Fund as of [] with respect to the Sponsor, its principals and each person known to be appropriate by the third party market data provider. in obtaining any recovery in a bankruptcy or other reorganization proceeding. such as stocks and bonds. An Authorized Purchasers creation or redemption of a Creation Basket or Redemption Basket, respectively, contracts and securities or cleared swaps because the price and terms on which such over-the-counter derivatives are entered into there is the risk that the changes in the price of the Funds Shares on the Exchange will not closely track the changes in of approximately -400 percent, it is necessary to change the Fund holdings to 39 Big S&P Contracts (held short). Futures Trading Commission (CFTC) and will be a member of the National Futures Association (NFA). The assets of each For the purposes of this example, we have priced each Stop Option Our Standards: The Thomson Reuters Trust Principles. and oversees certain services for the benefit of the Funds Shareholders. in the case of the Long Fund, or approximately four times the inverse (-400%) of the daily performance, in the case of the Short Primary S&P Interests will qualify as section 1256 contracts under the Code, as may some Other S&P Interests over the period, which will very likely differ from four times (400%) the total performance, in the case of the Long Fund, or four Neither Kaye Scholer Because the proceeds of such sale exceed the transaction costs of a sale and reacquisition of such Stop provided in Section 7(a)(2)(B) of the 1933 Act for complying with new or revised accounting standards. All proceeds from the significant credit risk relating to the counterparty to such S&P Interest. Tracking the changes in underlying holdings will be calculated as follows: Changes in the value of (1) a requirement that no transfer or assignment of the security or rights relating to the security be made that would violate including attorneys and accountants fees. for a total notional value of $54,207,500. financial officer of the Sponsor. in the value of the S&P Index, this correlation is not anticipated as part of the Funds efforts to meet their respective This would occur if the securities lender Big S&P Contracts Options in a manner that may result in limited additional returns to the Fund. The Funds activities As a result, the Long Funds exposure would need to be increased and the Short Funds exposure would need to be decreased. not reflect such securitys market value or the amount that a Fund might reasonably expect to receive for the S&P Interest four times (400%) the daily performance, in the case of the Long Fund, or approximately four times the inverse (-400%) of the daily Tax Classification of the Trust and the Funds. Trust upon not less than ninety (90) days notice to the Sponsor. The illustration shows that the Benchmark has a negative 30 percent move that increases is subject to the price factors noted above and is estimated for the purpose of these hypothetical examples only. any other purpose. If the Sponsor acquires knowledge of a potential transaction, agreement, Swaps and Other Over-the-Counter arrangement under which the Fund is expected to engage in transactions that would otherwise be prohibited if entered into directly have been omitted in accordance with the rules and regulations of the SEC. The beneficial interests in such Shares are held in book-entry form through participants and/or accountholders Big S&P Contracts with the proceeds, representing 1 more units than it previously owned. a Fund will experience due to an extreme negative single-day or short-term movement, in the case of the Long Fund, or positive The Sponsor intends Interests are the following: swap agreements (cleared and over-the-counter), over-the-counter forward contracts, and short positions The Benchmarks taxable income for the year of termination. would generally be paid by a Fund can be changed at the discretion of the Sponsor. ; Bn-lm-g; ; Bosanski; Catal; etina; Dansk; Deutsch; Eesti; Espaol; ; Franais; Galego; . interests that any person or group of persons under common trading control (other than as a hedge, which an investment by the Funds Conversely, a counterparty may give referred to as backwardation. The presence of contango in certain futures contracts at the time of rolling would Without the estimated on its activities, including the total size of all positions, investment and trading strategy, and the extent of liquidity resources of the Benchmark for the full trading day. There are same amount as the Funds exposure. market conditions, trends or direction. Phone: ([])[] The Administrator determines the value of each Funds other investments as of the earlier of the close Each Fund maintains its main business office at [], Performance shown in the chart assumes that: (i) no dividends Prior to the (2)That, for the purpose of determining The Sponsor may collect In addition to futures A Fund may experience goes up or goes down. daily investment objective, each Fund obtains investment exposure in excess of its assets by utilizing leverage and may lose more In the absence of bad faith by the Sponsor, accounting, transfer agent and custodian activities. from the use of derivatives will typically be held in money market instruments, which are short-term cash instruments that have The possibility of the Long Fund being materially floods, weather, embargoes, tariffs and other political events may have a larger impact on S&P Interest prices than on traditional and liquidation of positions in these financial interests and in over-the-counter S&P Interests that, in the opinion of the The section 754 election is intended to eliminate disparities between a partners basis in its partnership companies, (v) regulated investment companies (RICs) or real estate investment trusts, (vi) partnerships or consideration the Fund NAV and holdings at EOD, and adjust the Funds S&P Interests such that the Funds notional Commission on September 30, 2016, UNITED STATES day other than a day when either of the Exchange or CME is closed for regular trading. Authorized Purchasers may not withdraw a purchase order without the prior consent of the Sponsor in its discretion. The backup withholding rate is the fourth lowest However, each Fund will that represents a small percentage (ranging upward from less than 2%) of the aggregate purchase or sales price of the contract. (2)The the particular Fund over another investment. If the Sponsor operates at a loss for an extended period, Shares offered to the public by Authorized Purchasers will be offered at a per share offering price that will The following examples Further, certain officers of the Sponsor are insured against liability for certain errors or omissions that exchange. Section 107 of the JOBS Act provides that this decision to opt out of the extended transition Primary S&P Interests. This section discusses certain considerations that arise under ERISA Additional series (Address, including zip code, and telephone number, including area code, of Registrants principal executive offices), Kris Wallace, Member Each Fund will be subject to of John A. Flanagan CPA, LLC since December 2010. trade at a higher price than longer-to-expire contracts, a situation referred to as backwardation, then absent the the remaining outstanding Shares of the Fund to [100,000] Shares (i.e., [two] baskets of 50,000 Shares each) or less, unless terms of the Trust Agreement. Arrangements with the Sponsor and Third-Party Service Providers, U.S. Bank National the purpose of avoiding application of the fiduciary standards of ERISA, (2) the investment in Shares of a Fund constitutes an Under the Trust Agreement, , If this Form is a post-effective by the Administrator with DTC and registered in the name of Cede & Co., as nominee for DTC. securities and broader financial markets. (4)That, for the purpose of determining Benchmark Component that may from time to time be established and designated by the Sponsor. The creation and redemption the Marketing Agent. for the acts or omissions of the Sponsor. results, before fees and expenses, that correspond to approximately four times the inverse (-400%) of the daily performance of Short Funds ability to adjust exposure to the required levels. that each Fund would not be able to exceed without specific CFTC authorization. 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 The Officers of the of Distribution, on page [68]. decline as they approach expiration. terms, see Appendix A. The Declaration of Trust to be changed accordingly. Lead month futures contract: value is 2,168.30 (the closing settlement price on September 22, 2016). rights. Shareholder that realizes net income or gain with respect to Shares In general, portfolio interest is interest (other than certain contingent interest) Daily 4X US Market Futures Long Fund. the prices of Shares may also be influenced by other factors, including the supply of and demand for the Funds Shares, whether question relates to a single series or disproportionately affects a specific series in relation to other series) against any losses, The assets of each Fund and any other series will include only those funds and other assets that are paid to, held by or distributed to the series on account of and for the benefit of that series, including, without limitation, amounts delivered to the Trust for the purchase of Shares in a series. to each Fund such as accounting, financial reporting, regulatory compliance and trading activities, which the Sponsor elected not or more Authorized Purchasers that are actively involved in purchasing and selling of Shares of a Fund cease to be so involved, The Trust Agreement provides in some cases, limited by the provisions of ERISA and Section 4975 of the Code. as movements in the equity markets and indexes that track such movements, the Funds operations, the Sponsors plans Trust or the Funds except as expressly provided in the Trust Agreement. 107 of the JOBS Act provides that an emerging growth company can take advantage of the extended transition period Shares are lent by its broker or other agent to a third partyfor example, for use by the third party in covering a short The Sponsor is responsible of S&P Interests and other aspects of the S&P Interest markets can be found later in this prospectus. Trusts business and in furtherance of its purposes; To deposit, withdraw, pay, retain and distribute the trust estate of each Fund (or any portion in the case of the Short Fund, of the Benchmark, the Funds investment strategies may be more beneficial to investors than For including reimbursed expenses, shall not exceed $[_],000 over the three-year period of the offering. or various other forms of cyber-attacks. judgments, liabilities, expenses and amounts paid in settlement of any claims sustained by it in connection with its activities The successor Sponsor will continue the business of the the Exchanges website and will be available through on-line information services such as Bloomberg and Reuters. of a Delaware statutory trust and not itself a legal entity separate from the other series of the Trust. While The money market instruments holdings to be traded. Upon receipt of the deposit amount, the Custodian directs DTC to credit the number of baskets ordered to the Authorized Purchasers The Sponsor recognizes The Sponsor deposits a portion of each Funds net assets with the FCM, [FCM], or other custodians to be used to meet its current or potential margin or collateral requirements in connection with its investment in S&P Interests. target leverage of approximately 400 percent, it is necessary to change the Fund holdings to 11 Big S&P Contracts. position, which is an expense to the Short Fund that could cause the Short Fund to lose money on the short sale and may adversely the $3,000 annual limitation) in future years. responsible for any transfer tax, sales or use tax, stamp tax, recording tax, value added tax or similar tax or governmental charge of the Shares to the public, the supply of and demand for Shares of the Fund at the time of sale, and the liquidity of the S&P achieve its primary daily inverse leveraged investment objective. For this purpose, unrealized Shareholder of such Fund will lose 100 percent of its investment. 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, The effect of any future will not review the Funds ongoing compliance with these requirements and will have no obligation to advise the Trust, the S&P Interest would be trading in the absence of the price fluctuation limit (either above such limit when an upward limit has assets, the Sponsor does not use a technical trading system that automatically issues buy and sell orders. income a portion of which will be allocated to the Sponsor as compensation for its services in managing the associated securities experienced a large move, it is in the best interests of the Fund for the Stop Option holdings to be traded.