UNITED STATES BRENT OIL FUND, LP (NYSEARCA:BNO) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.
On May 28, 2020, the United States Brent Oil Fund, LP (the “Registrant”), entered into a Commodity Futures Customer Agreement (the “Agreement”) with RCG Division of Marex Spectron (“RCG”) to serve as a futures commission merchant (“FCM”) for the Registrant. The Agreement requires RCG to provide services to the Registrant, in connection with the purchase and sale of oil futures contracts and other oil-related investments that may be purchased or sold by or through RCG for the Registrant’s account. Under the Agreement, the Registrant pays RCG commissions for executing and clearing trades on behalf of the Registrant. As a result, RCG will serve as an FCM for the Registrant along with RBC Capital Markets, LLC (“RBC”), which provides such services to a Futures and Cleared Derivatives Transactions Customer Account Agreement by and between USCF and RBC, dated as of October 8, 2013.
The foregoing description of the Agreement is not complete and is qualified in its entirety by reference to the full text of the Agreement, a form of which is attached hereto as Exhibit 10.1 and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| 10.1 | Form of Commodity Futures Customer Agreement |
United States Brent Oil Fund, LP Exhibit
EX-10.1 2 i20353_ex10-1.htm Exhibit 10.1 RCG Commodity Futures Customer Agreement In consideration of the RCG Division of Marex Spectron (“RCG”) accepting your account and its agreement to act as your authorized broker,…
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