USO adds ADMIS as new FCM; Marex internal reorganization consolidates accounts

United States Oil Fund, LP

USO entered a Customer Account Agreement with ADM Investor Services on Aug 8, 2023 for futures execution and clearing.
ADMIS becomes an additional futures commission merchant; USO will pay commissions for trades executed and cleared.
Marex North America transferred its futures clearing business to affiliated Marex Capital Markets on July 14, 2023.
USO's futures account with MNA was consolidated with its MCM account; MCM assumes existing agreement rights/obligations.
USO expects no material impact on operations from the Marex consolidation.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

United States Oil Fund, LP entered into Customer Account Agreement with ADM Investor Services, Inc. (effective 2023-08-08).

Action: entry
Counterparty: ADM Investor Services, Inc.
Effective: 2023-08-08

Exact text from the filing

On August 8, 2023, United States 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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245 material agreements filed in the last 30 days. Browse all material agreements →

United States Oil Fund, LP filing history →

Source: SEC EDGAR

accession 0001171200-23-000374

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