---
schema_version: "secwatch.filing_event.v1"
accession: "0001171200-23-000369"
form_type: "8-K"
ticker: "BNO"
cik: "0001472494"
company_name: "United States Brent Oil Fund, LP"
filed_at: "2023-08-08T23:59:59+00:00"
generated_at: "2026-06-12T01:34:38.957583+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.25
calibrated_materiality_score: 0.25
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001171200-23-000369
- form_type: 8-K
- ticker: BNO
- cik: 0001472494
- company_name: United States Brent Oil Fund, LP
- filed_at: 2023-08-08T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.25
- calibrated_materiality_score: 0.25
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1472494/000117120023000369/0001171200-23-000369-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1472494/000117120023000369/i23336_bno-8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001171200-23-000369
- JSON: https://secwatch.observer/filing/0001171200-23-000369.json
- Plain text: https://secwatch.observer/filing/0001171200-23-000369.txt

## Key facts
- Material Agreements
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1472494/000117120023000369/0001171200-23-000369-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.