UNITED STATES NATURAL GAS FUND, LP (NYSEARCA:UNG) 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 Natural Gas 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.
|10.1||Form of Commodity Futures Customer Agreement|
United States Natural Gas Fund, LP Exhibit
EX-10.1 2 i20355_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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About UNITED STATES NATURAL GAS FUND, LP (NYSEARCA:UNG)
United States Natural Gas Fund, LP is a limited partnership. The Company is a commodity pool that issues limited partnership interests (shares) traded on the NYSE Arca, Inc. (the NYSE Arca). The investment objective of the Company is for the daily changes in percentage terms of its shares’ per share net asset value (NAV) to reflect the daily changes in percentage terms of the spot price of natural gas delivered at the Henry Hub, Louisiana, as measured by the daily changes in the price of the futures contracts on natural gas traded on the New York Mercantile Exchange (the NYMEX) that is the near month contract to expire, except when the near month contract is within two weeks of expiration, in which case it will be measured by the futures contract that is the next month contract to expire (the Benchmark Futures Contract), less its expenses. The Company’s general partner United States Commodity Funds LLC (USCF) is responsible for the management of the Company.