BNO adds ADM Investor Services as FCM; Marex reorganization no material impact

United States Brent Oil Fund, LP

On August 8, 2023, BNO entered a Customer Account Agreement with ADM Investor Services (ADMIS) as additional futures commission merchant.
ADMIS will execute and clear commodity futures trades for BNO; commissions will be paid under the agreement.
On July 14, 2023, Marex North America transferred its futures clearing business to Marex Capital Markets (MCM) internally.
MCM assumed the rights of BNO's existing futures customer agreement with MNA; no material operational impact expected.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

United States Brent Oil Fund, LP entered into Customer Account Agreement with ADM Investor Services, Inc. valued at Agreement to serve as an additional futures commission merchant, with commissions for executing and (effective 2023-08-08).

Action: entry
Agreement: credit facility
Counterparty: ADM Investor Services, Inc.
Value: Agreement to serve as an additional futures commission merchant, with commissions for executing and
Effective: 2023-08-08

Exact text from the filing

On August 8, 2023, United States Brent Oil Fund, LP (the “Registrant”) entered into a Customer Account Agreement (the “Agreement”) with ADM Investor Services, Inc. (“ADMIS”) to serve as an additional futures commission merchant (“FCM”) for the Registrant.

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United States Brent Oil Fund, LP filing history →

Source: SEC EDGAR

accession 0001171200-23-000369

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