1. Acceptance of Terms
2. Changes to Terms
3. Use of Website
To use this Website, you must be of legal age and have the legal capacity to enter into agreements.
b. Information Accuracy:
You agree to provide accurate, current, and complete information when using this Website.
c. Prohibited Activities:
You must not use this Website for any unlawful or prohibited purposes, including but not limited to:
Violating any applicable laws or regulations.
Attempting to interfere with or disrupt the Website’s security or functionality.
Misrepresenting your identity or affiliation with any other person or entity.
5. Intellectual Property
Trademarks: All FuturePath Trading, LLC trademarks and service marks used on the Website are the property of FuturePath Trading, LLC.
6. Limitation of Liability
FuturePath Trading, LLC disclaims any liability for damages or loss, direct or indirect, arising from your use of the Website. This includes, but is not limited to, loss of data, loss of profits, or any other losses.
7. Links to Third-Party Websites
This Website may contain links to third-party websites. These links are provided for your convenience. FuturePath Trading, LLC does not endorse or control these third-party websites and is not responsible for their content.
ELECTRONIC TRADING AND ORDER ROUTING SYSTEMS DISCLOSURE STATEMENT
Electronic trading and order routing systems differ from traditional open outcry pit trading and manual order routing methods. Transactions using an electronic system are subject to the rules and regulations of the exchange(s) offering the system and/or listing the contract. Before you engage in transactions using an electronic system, you should carefully review the rules and regulations of the exchange(s) offering the system and/or listing contracts you intend to trade.
DIFFERENCES AMONG ELECTRONIC TRADING SYSTEMS:
Trading or routing orders through electronic systems varies widely among the different electronic systems. You should consult the rules and regulations of the exchange offering the electronic system and/or listing the contract traded or order routed to understand, among other things, in the case of trading systems, the system’s order matching procedure, opening and closing procedures and prices, error trade policies, and trading limitations or requirements; and in the case of all systems, qualifications for access and grounds for termination and limitations on the types of orders that may be entered into the system. Each of these matters may present different risk factors with respect to trading on or using a particular system. Each system may also present risks related to system access, varying response times, and security. In the case of internet based systems, there may be additional types of risks related to system access, varying response times and security, as well as risks related to service providers and the receipt and monitoring of electronic mail.
RISKS ASSOCIATED WITH SYSTEM FAILURE:
Trading through an electronic trading or order routing system exposes you to risks associated with system or component failure. In the event of system or component failure, it is possible that, for a certain time period, you may not be able to enter new orders, execute existing orders, or modify or cancel orders that were previously entered. System or component failure may also result in loss of orders or order priority.
SIMULTANEOUS OPEN OUTCRY PIT AND ELECTRONIC TRADING:
Some contracts offered on an electronic trading system may be traded electronically and through open outcry during the same trading hours. You should review the rules and regulations of the exchange offering the system and/or listing the contract to determine how orders that do not designate a particular process will be executed.
LIMITATION OF LIABILITY:
Exchanges offering an electronic trading or order routing system and/or listing the contract may have adopted rules to limit their liability, the liability of FCMs, and software and communication system vendors and the amount of damages you may collect for system failure and delays. These limitations of liability provisions vary among the exchanges. You should consult the rules and regulations of the relevant exchange(s) in order to understand these liability limitations.
ELECTRONIC TRADING AND ORDER ROUTING SYSTEMS DISCLOSURE STATEMENT ACKNOWLEDGMENT:
Customer hereby authorizes FuturePath Trading, LLC to enter orders to trade in Commodity and Financial Futures and Options Contracts on any available electronic trading and order routing systems.
At FuturePath Trading, LLC, and its affiliates (collectively, “FPT”), maintaining client trust and confidence is a high priority. We understand that you are concerned with how we treat nonpublic personal information (“Client Information”) that we obtain from you or from other sources about you in the course of providing you with our products and services. For this reason, we want you to understand how we work to protect your privacy when we collect and use information about you, and the steps we take to safeguard that information.
USA PATRIOT ACT NOTICE TO CUSTOMERS:
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying document.
INFORMATION WE COLLECT:
In providing you with financial products and services, FPT may collect the following types of Client Information:
Information we receive from you on account applications, whether written or electronic, or on other forms. This information would include your name, address, phone number, email address, electronic signature, date of birth, driver’s license number, tax ID, passport number, Social Security number, income, bank information and investment experience.
Information about your transactions with us, our affiliates, or others. This information could include your trading through us, our affiliates, and others, your history of meeting margin calls, and your use of the various products and services that we and our affiliates provide.
Information about your creditworthiness, credit history, and other information about you that we receive from consumer reporting agencies, our affiliates, or providers of other demographic information, such as your purchasing or investment preferences.
Information collected automatically may include usage details, IP addresses, and information collected through cookies.
Information about you obtained in connection with our efforts to protect against fraud or unauthorized use of your account(s) with us. You have the right, at any time, to request and receive a copy of the information you have provided. Your data is retained by FPT based on current U.S. financial regulatory requirements.
HOW WE USE YOUR PERSONAL INFORMATION:
FPT does not disclose non-public personal information about its clients or potential clients to non-affiliated third parties, except as permitted by law. For example, we may share non-public information with the following:
Financial service providers, such as futures commission merchants, investment advisors, commodity trading advisors, and commodity pool operators.
Other non-affiliated third parties as permitted or required by law, such as in response to a subpoena or legal process or in order to complete a transaction that you initiated and authorized.
If you register for our online products or services, we retain your user ID and password and other information about your use of the website to recognize you as a registered user. We may obtain your email address from you or from another source. We may send you email offers for our and our affiliates’ products and services. We may also send you emails for third-party products and services we think may be of interest to you. All email offers we send to you include an opportunity to opt out of future email offers.
Information collected may be used for information about your equipment, browsing actions, and patterns, including: Details of your visits to our Website, including traffic data, location data, logs, information about your computer, including your IP address, operating system, and browser type.
If you opt out of receiving email offers, we may still send (via email or otherwise) important information about your account(s) with us and our products and services.
NOTICE CONCERNING YOUR PRIVACY & ONLINE SERVICES INTERNAL SECURITY PROCEDURES:
FPT restricts access to Client Information about you to:
Those of our employees and affiliates who need to know that information in order to provide the products and services you receive from us.
Those unaffiliated brokers who have introduced you to us.
Those unaffiliated third parties whose access to such information is permitted or required by law and who need to know that information in order to assist us in providing you with the products and services you receive from us. To protect the security of Client Information, we maintain physical, electronic, and procedural safeguards that comply with federal standards for guarding the information we collect about you.
Security and confidentiality of your personal information is very important to us. Despite FPT’s commitment and efforts, no data security measure is completely impenetrable.
You are entitled to request information regarding the processing of your personal information.
You may request that we correct your personal information
You may request that we delete your personal information. Please note that we may be required by US regulation to retain your data regardless.
You have the right to request that we stop the processing of your personal information unless there are legal reasons for us to continue.
You have the right to withdraw your consent to processing your personal data unless there are regulatory obligations to continue.
HOW TO CONTACT US:
If you have questions, requests or complaints please email us at firstname.lastname@example.org or call or write directly.
FuturePath Trading, LLC | 5 Bridgeport Lane | Geneva | IL | 60604
RISK DISCLOSURE STATEMENT
The risk of loss in trading commodity futures contracts can be substantial. You should, therefore, carefully consider whether such
trading is suitable for you in light of your circumstances and financial resources. You should be aware of the following points:
(1) You may sustain a total loss of the funds that you deposit with your broker to establish or maintain a position in the
commodity futures market, and you may incur losses beyond these amounts. If the market moves against your position, you may be
called upon by your broker to deposit a substantial amount of additional margin funds, on short notice, in order to maintain your
position. If you do not provide the required funds within the time required by your broker, your position may be liquidated at a loss,
and you will be liable for any resulting deficit in your account.
(2) The funds you deposit with a futures commission merchant for trading futures positions are not protected by insurance in
the event of the bankruptcy or insolvency of the futures commission merchant, or in the event your funds are misappropriated.
(3) The funds you deposit with a futures commission merchant for trading futures positions are not protected by the Securities
Investor Protection Corporation even if the futures commission merchant is registered with the Securities and Exchange Commission
as a broker or dealer.
(4) The funds you deposit with a futures commission merchant are generally not guaranteed or insured by a derivatives
clearing organization in the event of the bankruptcy or insolvency of the futures commission merchant, or if the futures commission
merchant is otherwise unable to refund your funds. Certain derivatives clearing organizations, however, may have programs that
provide limited insurance to customers. You should inquire of your futures commission merchant whether your funds will be insured by
a derivatives clearing organization and you should understand the benefits and limitations of such insurance programs.
(5) The funds you deposit with a futures commission merchant are not held by the futures commission merchant in a separate
account for your individual benefit. Futures commission merchants commingle the funds received from customers in one or more
accounts and you may be exposed to losses incurred by other customers if the futures commission merchant does not have sufficient
capital to cover such other customers’ trading losses.
(6) The funds you deposit with a futures commission merchant may be invested by the futures commission merchant in certain
types of financial instruments that have been approved by the Commission for the purpose of such investments. Permitted investments
are listed in Commission Regulation 1.25 and include: U.S. government securities; municipal securities; money market mutual funds;
and certain corporate notes and bonds. The futures commission merchant may retain the interest and other earnings realized from its
investment of customer funds. You should be familiar with the types of financial instruments that a futures commission merchant may
invest customer funds in.
(7) Futures commission merchants are permitted to deposit customer funds with affiliated entities, such as affiliated banks,
securities brokers or dealers, or foreign brokers. You should inquire as to whether your futures commission merchant deposits funds
with affiliates and assess whether such deposits by the futures commission merchant with its affiliates increases the risks to your funds.
(8) You should consult your futures commission merchant concerning the nature of the protections available to safeguard
funds or property deposited for your account.
(9) Under certain market conditions, you may find it difficult or impossible to liquidate a position. This can occur, for example,
when the market reaches a daily price fluctuation limit (“limit move’).
(10) All futures positions involve risk, and a “spread” position may not be less risky than an outright “long” or “short” position.
(11) The high degree of leverage (gearing) that is often obtainable in futures trading because the small margin requirements
can work against you as well as for you. Leverage (gearing) can lead to large losses as well as gains.
(12) In addition to the risks noted in the paragraphs enumerated above, you should be familiar with the futures commission
merchant you select to entrust your funds for trading futures positions. The Commodity Futures Trading Commission requires each
futures commission merchant to make publicly available on its Web site firm specific disclosures and financial information to assist you
with your assessment and selection of a futures commission merchant.
Variable degree of risk
(13) Transactions in options carry a high degree of risk. Purchasers and seller of options should familiarize themselves with the
type of option (i.e., put or call) which they contemplate trading and the associated risks. You should calculate the extent to which the
value of the options must increase for your position to become profitable, taking into account the premium and all transaction costs.
(14) The purchaser of options may offset or exercise the options or allow the options to expire. The exercise of an option results
either in a cash settlement or in the purchaser acquiring or delivering the underlying interest. If the option is on a future, the purchaser
will acquire a futures position with associated liabilities for margin (see the section on Futures above). If the purchased options expire
worthless, you will suffer a total loss of your investment which will consist of the option premium plus transaction costs. If you are
contemplating purchasing deep-out-of-the-money options, you should be aware that the chance of such options becoming profitable
is ordinarily remote.
(15) Selling (‘writing’ or ‘granting’) an option generally entails considerably greater risk than purchasing options. Although the
premium received by the seller is fixed, the seller may sustain a Joss well in excess of that amount. The seller will be liable for additional
margin to maintain the position if the market moves unfavorably. The seller will also be exposed to the risk of the purchaser exercising
the option and the seller will be obligated to either settle the option in cash or to acquire or deliver the underlying interest. If the option
is on a future, the seller will acquire a position in a future with associated liabilities for margin (see the section on Futures above). If the
position is ‘covered’ by the seller holding a corresponding position in the underlying interest or a future or another option, the risk may
be reduced. If the option is not covered, the risk of loss can be unlimited.
(16) Certain exchanges in some jurisdictions permit deferred payment of the option premium, exposing the purchaser to liability
for margin payments not exceeding the amount of the premium. The purchaser is still subject to the risk of losing the premium and
transaction costs. When the option is exercised or expires, the purchaser is responsible for any unpaid premium outstanding at that
ADDITIONAL RISKS COMMON TO FUTURES AND OPTIONS
Terms and conditions of contracts
(17) You should ask the firm with which you deal about the term and conditions of the specific futures or options which you are
trading and associated obligations (e.g., the circumstances under which you may become obligated to make or take delivery of the
underlying interest of a futures contract and, in respect of options, expiration dates and restrictions on the time for exercise). Under
certain circumstances the specifications of outstanding contracts (including the exercise price of an option) may be modified by the
exchange or clearing house to reflect changes in the underlying interest.
Suspension or restriction of trading and pricing relationships
(18) Market conditions (e.g., illiquidity) and/or the operation of the rules of certain markets (e.g., the suspension of trading in
any contract or contract month because of price limits or ‘circuit breakers ‘) may increase the risk of loss by making it difficult or
impossible to effect transactions or liquidate/offset positions. If you have sold options, this may increase the risk of loss.
(19) Further, normal pricing relationships between the underlying interest and the future, and the underlying interest and the
option may not exist. This can occur when, for example, the futures contract underlying the option is subject to price limits while the
option is not. The absence of an underlying reference price may make it difficult to judge ‘fair’ value.
Deposited cash and property
(20) You should familiarize yourself with the protections accorded money or other property you deposit for domestic and foreign
transactions, particularly in the event of a firm insolvency or bankruptcy. The extent to which you may recover your money or property
may be governed by specified legislation or local rules. In some jurisdictions, property which has been specifically identifiable as your
own will be pro-rated in the same manner as cash for purposes of distribution in the event of a shortfall.
Commission and other charges
(21) Before you begin to trade, you should obtain a clear explanation of all commission, fees and other charges for which you
will be liable. These charges will typically decrease your net profit or increase your loss.
(22) The profit or loss in transactions in foreign currency-denominated contracts (whether they are traded in your own or
another jurisdiction) will be affected by fluctuations in currency rates where there is a need to convert from the currency denomination
of the contract to another currency.
(23) Most open-outcry and electronic trading facilities are supported by computer-based component systems for the orderrouting, execution, matching, registration or clearing of trades. As with all facilities and systems, they are vulnerable to temporary disruption or failure. Your ability to recover certain losses may be subject to limits on liability imposed by the system provider, the market, the clearing house and/or member firms. Such limits may vary; you should ask the firm with which you deal for details in this respect.
(24) Trading on an electronic trading system may differ not only from trading in an open-outcry market but also from trading
on other electronic trading systems. If you undertake transactions on an electronic trading system, you will be exposed to risk associated
with the system including the failure of hardware and software. The result of any system failure may be that your order is either not
executed according to your instructions or is not executed at all.
(25) In some jurisdictions, and only then in restricted circumstances, firms are permitted to effect off-exchange transactions.
The firm with which you deal may be acting as your counterparty to the transaction. It may be difficult or impossible to liquidate an
existing position, to assess the value, to determine a fair price or to assess the exposure to risk. For these reasons, these transactions
may involve increased risks. Off-exchange transactions may be less regulated or subject to a separate regulatory regime. Before you
undertake such transactions, you should familiarize yourself with applicable rules and attendant risks.
ALL OF THEPOINTS NOTED ABOVE APPLY TOALL FUTURES TRADING WHETHER FOREIGN ORDOMESTIC.
IN ADDITION, IF YOU ARE CONTEMPLATING TRADING FOREIGN FUTURES OR OPTIONS CONTRACTS, YOU SHOULD BE AWARE OF THE FOLLOWING ADDITIONAL RISKS:
(26) Foreign futures transactions involve executing and clearing trades on a foreign exchange. This is the case even if the foreign
exchange is formally “linked” to a domestic exchange, whereby a trade executed on one exchange liquidates or establishes a position
on the other exchange. No domestic organization regulates the activities of a foreign exchange, including the execution, delivery, and
clearing of transactions on such an exchange, and no domestic regulator has the power to compel enforcement of the rules of the
foreign exchange or the laws of the foreign country. Moreover, such laws or regulations will vary depending on the foreign country in
which the transaction occurs. For these reasons, customers who trade on foreign exchanges may not be afforded certain of the
protections which apply to domestic transactions, including the right to use domestic alternative dispute resolution procedures. In
particular, funds received from customers to margin foreign futures transactions may not be provided the same protections as funds
received to margin futures transactions on domestic exchanges. Before you trade, you should familiarize yourself with the foreign rules
which will apply to your particular transaction.
(27) Finally, you should be aware that the price of any foreign futures or option contract and, therefore, the potential profit and
loss resulting therefrom may be affected by any fluctuation in the foreign exchange rate between the time the order is placed and the
foreign futures contract is liquidated or the foreign option contract is liquidated or exercised.
DEFINITION OF ELIGIBLE CONTRACT PARTICIPANT
(Section 1a (18) of the Commodity Exchange Act, 7 U.S.C. 1a (18))
(18) Eligible contract participant
The term ―eligible contract participant means—
(A) Acting for its own account—
(I) A financial institution;
(II) An Insurance company that is regulated by a State, or that is regulated by a foreign government and is subject to comparable regulation as determined by the [Commodity Futures Trading] Commission, including a regulated subsidiary or affiliate of such an insurance company;
(III) An investment company subject to regulation under the Investment Company Act of 1940 (15 U.S.C. 80a–1 et seq.) or a foreign person performing a similar role or function subject as such to foreign regulation (regardless of whether each investor in the investment company or the foreign person is itself an eligible contract participant);
(IV) A commodity pool that—
(I) That has total assets exceeding $5,000,000; and
(II) is formed and operated by a person subject to regulation under this Act or a foreign person performing a similar role or function subject as such to foreign regulation (regardless of whether each investor in the commodity pool or the foreign person is itself an eligible contract participant) provided however, that for purposes of section 2(c)(2)(B)(vi) and section 2(c)(2)C)(vii), the term ‗eligible contract participant‘; shall not include a commodity pool in which any participant is not otherwise an eligible contract participant;
(v) A corporation, partnership, proprietorship, organization, trust, or other entity—
(I) that has total assets exceeding $10,000,000;
(II) the obligations of which under an agreement, contract, or transaction are guaranteed or otherwise supported by a letter of credit or keepwell, support, or other agreement by an entity described in sub-clause (I), in clause (i), (ii), (iii), (iv), or (vii), or in subparagraph (C); or
(aa) has a net worth exceeding $1,000,000; and
(bb) enters into an agreement, contract, or transaction in connection with the conduct of the entity‘s business or to manage the risk associated with an asset or liability owned or incurred or reasonably likely to be owned or incurred by the entity in the conduct of the entity‘s business;
(VI) An employee benefit plan
subject to the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1001 et seq.), a governmental employee benefit plan, or a foreign person performing a similar role or function subject as such to foreign regulation—
(I) that has total assets exceeding $5,000,000; or
(II) the investment decisions of which are made by—
(aa) an investment adviser or commodity trading adviser subject to regulation under the Investment Advisers Act of 1940 (15 U.S.C. 80b–1 et seq.) or this Act;
(bb) a foreign person performing a similar role or function subject as such to foreign regulation;
(cc) a financial institution; or
(dd) an insurance company described in clause (ii), or a regulated subsidiary or affiliate of such an insurance company;
(I) A governmental entity (including the United States, a State, or a foreign government) or political subdivision of a governmental entity;
(II) A multinational or supranational government entity; or
(III) An instrumentality, agency, or department of an entity described in sub-clause (I) or (II);
except that such term does not include an entity, instrumentality, agency, or department referred to in sub-clause (I) or (III) of this clause unless (aa) the entity, instrumentality, agency, or department is a person described in clause (i), (ii), or (iii) of paragraph (17)(A); (bb) the entity, instrumentality, agency, or department owns and invests on a discretionary basis $50,000,000 or more in investments; or (cc) the agreement, contract, or transaction is offered by, and entered into with, an entity that is listed in any of sub-clauses (I) through (VI) of section 2 (c)(2)(B)(ii);
(I) A broker or dealer subject to regulation under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) or a foreign person performing a similar role or function subject as such to foreign regulation, except that, if the broker or dealer or foreign person is a natural person or proprietorship, the broker or dealer or foreign person shall not be considered to be an eligible contract participant unless the broker or dealer or foreign person also meets the requirements of clause (v) or (xi);
(II) An associated person of a registered broker or dealer concerning the financial or securities activities of which the registered person makes and keeps records under section 15C(b) or 17(h) of the Securities Exchange Act of 1934 (15 U.S.C. 78o–5 (b), 78q (h));
(III) An investment bank holding company (as defined in section 17(i) of the Securities Exchange Act of 1934 (15 U.S.C. 78q (i));
(ix) A futures commission merchant subject to regulation under this chapter or a foreign person performing a similar role or function subject as such to foreign regulation, except that, if the futures commission merchant or foreign person is a natural person or proprietorship, the futures commission merchant or foreign person shall not be considered to be an eligible contract participant unless the futures commission merchant or foreign person also meets the requirements of clause (v) or (xi);
(X) A floor broker or floor trader subject to regulation under this Act in connection with any transaction that takes place on or through the facilities of a registered entity (other than an electronic trading facility with respect to a significant price discovery contract) or an exempt board of trade, or any affiliate thereof, on which such person regularly trades; or
(XI) An individual who has amounts invested on a discretionary basis, the aggregate of which is in excess of—
(I) $10,000,000; or
(II) $5,000,000 and who enters into the agreement, contract, or transaction in order to manage the risk associated with an asset owned or liability incurred, or reasonably likely to be owned or incurred, by the individual;
(i) A person described in clause (i), (ii), (iv), (v), (viii), (ix), or (x) of subparagraph (A) or in subparagraph (C), acting as broker or performing an equivalent agency function on behalf of another person described in subparagraph (A) or (C); or
(ii) An investment adviser subject to regulation under the Investment Advisers Act of 1940 [15 U.S.C. 80b–1 et seq.], a commodity trading adviser subject to regulation under this Act, a foreign person performing a similar role or function subject as such to foreign regulation, or a person described in clause (i), (ii), (iv), (v), (viii), (ix), or (x) of subparagraph (A) or in subparagraph (C), in any such case acting as investment manager or fiduciary (but excluding a person acting as broker or performing an equivalent agency function) for another person described in subparagraph (A) or (C) and who is authorized by such person to commit such person to the transaction; or
(C) Any other person that the Commission determines to be eligible in light of the financial or other qualifications of the person.