New York
|
000-50271
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22-3644546
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(State or other
jurisdiction of incorporation) |
(Commission File Number)
|
(IRS Employer Identification No.)
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☐
|
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
|
☐
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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|
☐
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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☐
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Title of each class
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Trading Symbol(s)
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Name of each exchange on which registered
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N/A
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N/A
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N/A
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Allocation Amount
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Monthly Management Fee
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Annual Incentive Fee
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$1 – $49,999,999
|
0.75%
|
20%
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$50,000,000 or more
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0.60%
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20%
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Exhibit No.
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Description
|
CERES ORION L.P.
|
||
By: Ceres Managed Futures LLC, General Partner
|
||
By:
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/s/ Patrick T. Egan
|
|
Patrick T. Egan
|
||
President and Director
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CERES MANAGED FUTURES LLC
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GREENWAVE CAPITAL MANAGEMENT LLC
|
|||
By:
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/s/ Patrick T. Egan
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By:
|
||
Name: Patrick T. Egan
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||||
Title: President and Director
|
||||
CERES ORION L.P.
|
||||
By:
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Ceres Managed Futures LLC
(General Partner) |
|||
By:
|
/s/ Patrick T. Egan
|
|||
Patrick T. Egan
|
||||
President and Director
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1.
|
The Partnership will invest its assets only in commodity interests that an advisor believes are traded in sufficient volume to permit ease of taking and liquidating
positions. Sufficient volume, in this context, refers to a level of liquidity that an advisor believes will permit it to enter and exit trades without noticeably moving the market.
|
2.
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The Adviser will not initiate additional positions in any commodity interest if these positions would result in aggregate positions requiring margin of more than 66 2/3%
of the Partnership’s net assets allocated to that advisor. To the extent the CFTC and/or exchanges have not otherwise established margin requirements with respect to particular contracts: (i) forward contracts in currencies will be deemed
to have approximately the same margin requirements as the same or similar futures contracts traded on the Chicago Mercantile Exchange; and (ii) swap contracts will be deemed to have margin requirements equivalent to the collateral deposits,
if any, made with swap counterparties.
|
3.
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The Partnership may occasionally accept delivery of a commodity. Unless such delivery is disposed of promptly by retendering the warehouse receipt representing the
delivery to the appropriate clearinghouse, the physical commodity position will be fully hedged.
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4.
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The Partnership will not employ the trading technique commonly known as “pyramiding,” in which the speculator uses unrealized profits on existing positions as margin for
the purchase or sale of additional positions in the same or related commodities.
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5.
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The Partnership will not utilize borrowings except short‑term borrowings if the Partnership takes delivery of any cash commodities.
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6.
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The Advisor may from time to time employ trading strategies such as spreads or straddles on behalf of the Partnership. The term “spread” or “straddle” describes a commodity futures trading
strategy involving the simultaneous buying and selling of futures contracts on the same commodity but involving different delivery dates or markets and in which the trader expects to earn a profit from a widening or narrowing of the
difference between the prices of the two contracts.
|
.
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7.
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The Partnership will not permit the churning of its commodity trading accounts. The term “churning” refers to the practice of entering and exiting trades with a
frequency unwarranted by legitimate efforts to profit from the trades, driven by the desire to generate commission income.
|
Description
|
Exchange
|
Bloomberg Code
|
Reuters Code
|
Sector/Type
|
Exchange Description
|
AUD/CAD Future
|
CME
|
ACA Curncy
|
0#1ACDA:
|
FxFuture
|
Chicago Mercantile Exchange
|
AUD/JPY Future
|
CME
|
AJA Curncy
|
0#1AJYA:
|
FxFuture
|
Chicago Mercantile Exchange
|
AUD/NZD Future
|
CME
|
ANA Curncy
|
0#1ANEA:
|
FxFuture
|
Chicago Mercantile Exchange
|
AUD/USD Future
|
CME
|
ADA Curncy
|
0#AD:
|
FxFuture
|
Chicago Mercantile Exchange
|
BRL/USD Future
|
CME
|
BRA Curncy
|
0#BR:
|
FxFuture
|
Chicago Mercantile Exchange
|
CAD/JPY Future
|
CME
|
CYA Curncy
|
0#1CJYA:
|
FxFuture
|
Chicago Mercantile Exchange
|
CAD/USD Future
|
CME
|
CDA Curncy
|
0#CD:
|
FxFuture
|
Chicago Mercantile Exchange
|
CHF/JPY Future
|
CME
|
SJA Curncy
|
0#1SJYA:
|
FxFuture
|
Chicago Mercantile Exchange
|
CHF/USD Future
|
CME
|
SFA Curncy
|
0#SF:
|
FxFuture
|
Chicago Mercantile Exchange
|
CZK/EUR Future
|
CME
|
EXA Curncy
|
0#ECZ:
|
FxFuture
|
Chicago Mercantile Exchange
|
CZK/USD Future
|
CME
|
CCA Curncy
|
0#CKO:
|
FxFuture
|
Chicago Mercantile Exchange
|
EUR/AUD Future
|
CME
|
EAA Curncy
|
0#1EADA:
|
FxFuture
|
Chicago Mercantile Exchange
|
EUR/CAD Future
|
CME
|
CAA Curncy
|
0#1ECDA:
|
FxFuture
|
Chicago Mercantile Exchange
|
EUR/CHF Future
|
CME
|
RFA Curncy
|
0#1RF:
|
FxFuture
|
Chicago Mercantile Exchange
|
EUR/GBP Future
|
CME
|
RPA Curncy
|
0#1RP:
|
FxFuture
|
Chicago Mercantile Exchange
|
EUR/JPY Future
|
CME
|
RYA Curncy
|
0#1RY:
|
FxFuture
|
Chicago Mercantile Exchange
|
EUR/NOK Future
|
CME
|
ENA Curncy
|
0#1ENKA:
|
FxFuture
|
Chicago Mercantile Exchange
|
EUR/SEK Future
|
CME
|
EWA Curncy
|
0#1ESKA:
|
FxFuture
|
Chicago Mercantile Exchange
|
EUR/TRY Future
|
CME
|
TRRA Curncy
|
0#1TLE:
|
FxFuture
|
Chicago Mercantile Exchange
|
EUR/USD Future
|
CME
|
ECA Curncy
|
0#URO:
|
FxFuture
|
Chicago Mercantile Exchange
|
GBP/CHF Future
|
CME
|
PSA Curncy
|
0#1PSFA:
|
FxFuture
|
Chicago Mercantile Exchange
|
GBP/JPY Future
|
CME
|
PJA Curncy
|
0#1PJYA:
|
FxFuture
|
Chicago Mercantile Exchange
|
GBP/USD Future
|
CME
|
BPA Curncy
|
0#BP:
|
FxFuture
|
Chicago Mercantile Exchange
|
HUF/EUR Future
|
CME
|
ELA Curncy
|
0#EHU:
|
FxFuture
|
Chicago Mercantile Exchange
|
HUF/USD Future
|
CME
|
HEA Curncy
|
0#HFO:
|
FxFuture
|
Chicago Mercantile Exchange
|
ILS/USD Future
|
CME
|
ISA Curncy
|
0#1ISR:
|
FxFuture
|
Chicago Mercantile Exchange
|
JPY/USD Future
|
CME
|
JYA Curncy
|
0#JY:
|
FxFuture
|
Chicago Mercantile Exchange
|
KRW/USD Future
|
CME
|
KOA Curncy
|
0#1KWR:
|
FxFuture
|
Chicago Mercantile Exchange
|
MXN/USD Future
|
CME
|
PEA Curncy
|
0#MP:
|
FxFuture
|
Chicago Mercantile Exchange
|
NOK/USD Future
|
CME
|
NOA Curncy
|
0#1NOKA:
|
FxFuture
|
Chicago Mercantile Exchange
|
NZD/USD Future
|
CME
|
NVA Curncy
|
0#NE:
|
FxFuture
|
Chicago Mercantile Exchange
|
PLN/EUR Future
|
CME
|
EIA Curncy
|
0#EPL:
|
FxFuture
|
Chicago Mercantile Exchange
|
PLN/USD Future
|
CME
|
PPA Curncy
|
0#PLZ:
|
FxFuture
|
Chicago Mercantile Exchange
|
RMB/USD Future
|
CME
|
DOA Curncy
|
0#1RMB:
|
FxFuture
|
Chicago Mercantile Exchange
|
RUB/USD Future
|
CME
|
RUA Curncy
|
0#RU:
|
FxFuture
|
Chicago Mercantile Exchange
|
SEK/USD Future
|
CME
|
SEA Curncy
|
0#1SEKA:
|
FxFuture
|
Chicago Mercantile Exchange
|
USD/TRY Future
|
CME
|
TURA Curncy
|
0#1TLY:
|
FxFuture
|
Chicago Mercantile Exchange
|
USD/ZAR Future
|
CME
|
ZRA Curncy
|
0#1ZRA:
|
FxFuture
|
Chicago Mercantile Exchange
|
ZAR/USD Future
|
CME
|
RAA Curncy
|
0#RA:
|
FxFuture
|
Chicago Mercantile Exchange
|
AUD/USD European Style Week 1 Option
|
CME
|
ADA Curncy
|
FxFuture
|
Chicago Mercantile Exchange
|
|
AUD/USD European Style Week 2 Option
|
CME
|
ADA Curncy
|
FxFuture
|
Chicago Mercantile Exchange
|
|
AUD/USD European Style Week 3 Option
|
CME
|
ADA Curncy
|
FxFuture
|
Chicago Mercantile Exchange
|
|
AUD/USD European Style Week 4 Option
|
CME
|
ADA Curncy
|
FxFuture
|
Chicago Mercantile Exchange
|
|
AUD/USD European Style Week 5 Option
|
CME
|
ADA Curncy
|
FxFuture
|
Chicago Mercantile Exchange
|
|
AUD/USD Option
|
CME
|
ADA Curncy
|
FxFuture
|
Chicago Mercantile Exchange
|
|
BRL/USD Option
|
CME
|
BRA Curncy
|
FxFuture
|
Chicago Mercantile Exchange
|
|
CAD/USD European Style Week 1 Option
|
CME
|
CDA Curncy
|
FxFuture
|
Chicago Mercantile Exchange
|
|
CAD/USD European Style Week 2 Option
|
CME
|
CDA Curncy
|
FxFuture
|
Chicago Mercantile Exchange
|
|
CAD/USD European Style Week 3 Option
|
CME
|
CDA Curncy
|
FxFuture
|
Chicago Mercantile Exchange
|
|
CAD/USD European Style Week 4 Option
|
CME
|
CDA Curncy
|
FxFuture
|
Chicago Mercantile Exchange
|
|
CAD/USD European Style Week 5 Option
|
CME
|
CDA Curncy
|
FxFuture
|
Chicago Mercantile Exchange
|
|
CAD/USD Option
|
CME
|
CDA Curncy
|
FxFuture
|
Chicago Mercantile Exchange
|
|
CHF/USD Option
|
CME
|
SFA Curncy
|
FxFuture
|
Chicago Mercantile Exchange
|
|
CZK/EUR Option
|
CME
|
EXA Curncy
|
FxFuture
|
Chicago Mercantile Exchange
|
|
CZK/USD Option
|
CME
|
CCA Curncy
|
FxFuture
|
Chicago Mercantile Exchange
|
|
EUR/CHF Option
|
CME
|
RFA Curncy
|
FxFuture
|
Chicago Mercantile Exchange
|
|
EUR/GBP Option
|
CME
|
RPA Curncy
|
FxFuture
|
Chicago Mercantile Exchange
|
|
EUR/JPY Option
|
CME
|
RYA Curncy
|
FxFuture
|
Chicago Mercantile Exchange
|
|
EUR/USD European Style Week 1 Option
|
CME
|
ECA Curncy
|
FxFuture
|
Chicago Mercantile Exchange
|
|
EUR/USD European Style Week 2 Option
|
CME
|
ECA Curncy
|
FxFuture
|
Chicago Mercantile Exchange
|
|
EUR/USD European Style Week 3 Option
|
CME
|
ECA Curncy
|
FxFuture
|
Chicago Mercantile Exchange
|
|
EUR/USD European Style Week 4 Option
|
CME
|
ECA Curncy
|
FxFuture
|
Chicago Mercantile Exchange
|
|
EUR/USD European Style Week 5 Option
|
CME
|
ECA Curncy
|
FxFuture
|
Chicago Mercantile Exchange
|
|
EUR/USD Option
|
CME
|
ECA Curncy
|
FxFuture
|
Chicago Mercantile Exchange
|
|
GBP/USD European Style Week 1 Option
|
CME
|
FxFuture
|
Chicago Mercantile Exchange
|
||
GBP/USD European Style Week 2 Option
|
CME
|
FxFuture
|
Chicago Mercantile Exchange
|
||
GBP/USD European Style Week 3 Option
|
CME
|
FxFuture
|
Chicago Mercantile Exchange
|
||
GBP/USD European Style Week 4 Option
|
CME
|
FxFuture
|
Chicago Mercantile Exchange
|
||
GBP/USD European Style Week 5 Option
|
CME
|
FxFuture
|
Chicago Mercantile Exchange
|
||
GBP/USD Option
|
CME
|
BPA Curncy
|
FxFuture
|
Chicago Mercantile Exchange
|
|
HUF/EUR Option
|
CME
|
ELA Curncy
|
FxFuture
|
Chicago Mercantile Exchange
|
|
HUF/USD Option
|
CME
|
HEA Curncy
|
FxFuture
|
Chicago Mercantile Exchange
|
ILS/USD Option
|
CME
|
ISA Curncy
|
FxFuture
|
Chicago Mercantile Exchange
|
|
JPY/USD European Style Week 1 Option
|
CME
|
JYA Curncy
|
FxFuture
|
Chicago Mercantile Exchange
|
|
JPY/USD European Style Week 2 Option
|
CME
|
JYA Curncy
|
FxFuture
|
Chicago Mercantile Exchange
|
|
JPY/USD European Style Week 3 Option
|
CME
|
JYA Curncy
|
FxFuture
|
Chicago Mercantile Exchange
|
|
JPY/USD European Style Week 4 Option
|
CME
|
JYA Curncy
|
FxFuture
|
Chicago Mercantile Exchange
|
|
JPY/USD European Style Week 5 Option
|
CME
|
JYA Curncy
|
FxFuture
|
Chicago Mercantile Exchange
|
|
JPY/USD Option
|
CME
|
JYA Curncy
|
FxFuture
|
Chicago Mercantile Exchange
|
|
KRW/USD Option
|
CME
|
KOA Curncy
|
FxFuture
|
Chicago Mercantile Exchange
|
|
MXN/USD Option
|
CME
|
PEA Curncy
|
FxFuture
|
Chicago Mercantile Exchange
|
|
NZD/USD Option
|
CME
|
NVA Curncy
|
FxFuture
|
Chicago Mercantile Exchange
|
|
PLN/EUR Option
|
CME
|
EIA Curncy
|
FxFuture
|
Chicago Mercantile Exchange
|
|
PLN/USD Option
|
CME
|
PPA Curncy
|
FxFuture
|
Chicago Mercantile Exchange
|
|
RMB/USD Option
|
CME
|
DOA Curncy
|
FxFuture
|
Chicago Mercantile Exchange
|
|
RUB/USD Option
|
CME
|
RUA Curncy
|
FxFuture
|
Chicago Mercantile Exchange
|
|
ZAR/USD Option
|
CME
|
RAA Curncy
|
FxFuture
|
Chicago Mercantile Exchange
|
|
AUD/CAD Future
|
FNX
|
ASA Curncy
|
0#AS:
|
FxFuture
|
ICE Futures US Currencies
|
AUD/JPY Future
|
FNX
|
YAA Curncy
|
0#YA:
|
FxFuture
|
ICE Futures US Currencies
|
AUD/NZD Future
|
FNX
|
ARA Curncy
|
0#AR:
|
FxFuture
|
ICE Futures US Currencies
|
AUD/USD (100) Future
|
FNX
|
KAAA Curncy
|
0#KAU:
|
FxFuture
|
ICE Futures US Currencies
|
CAD/JPY Future
|
FNX
|
HLA Curncy
|
0#HY:
|
FxFuture
|
ICE Futures US Currencies
|
CAD/USD Future
|
FNX
|
KMBA Curncy
|
0#KSV:
|
FxFuture
|
ICE Futures US Currencies
|
CHF/JPY (250) Future
|
FNX
|
KZYA Curncy
|
0#KZY:
|
FxFuture
|
ICE Futures US Currencies
|
CHF/USD Future
|
FNX
|
KMIA Curncy
|
0#KMF:
|
FxFuture
|
ICE Futures US Currencies
|
EUR/AUD (125) Future
|
FNX
|
KRAA Curncy
|
0#KRA:
|
FxFuture
|
ICE Futures US Currencies
|
EUR/CAD (125) Future
|
FNX
|
KEPA Curncy
|
0#KEP:
|
FxFuture
|
ICE Futures US Currencies
|
EUR/CHF (125) Future
|
FNX
|
KRWA Curncy
|
0#KRZ:
|
FxFuture
|
ICE Futures US Currencies
|
EUR/CZK Future
|
FNX
|
EZA Curncy
|
0#EZ:
|
FxFuture
|
ICE Futures US Currencies
|
EUR/GBP (125) Future
|
FNX
|
KGBA Curncy
|
0#KGB:
|
FxFuture
|
ICE Futures US Currencies
|
EUR/HUF Future
|
FNX
|
HRA Curncy
|
0#RH:
|
FxFuture
|
ICE Futures US Currencies
|
EUR/JPY (125) Future
|
FNX
|
KELA Curncy
|
0#KFJ:
|
FxFuture
|
ICE Futures US Currencies
|
EUR/NOK (125) Future
|
FNX
|
KOLA Curncy
|
0#LOK:
|
FxFuture
|
ICE Futures US Currencies
|
EUR/SEK (125) Future
|
FNX
|
KRPA Curncy
|
0#KKR:
|
FxFuture
|
ICE Futures US Currencies
|
EUR/USD (125) Future
|
FNX
|
KEOA Curncy
|
0#KEO:
|
FxFuture
|
ICE Futures US Currencies
|
GBP/AUD Future
|
FNX
|
ZBA Curncy
|
0#QAC:
|
FxFuture
|
ICE Futures US Currencies
|
GBP/CAD Future
|
FNX
|
ZIA Curncy
|
0#PCC:
|
FxFuture
|
ICE Futures US Currencies
|
GBP/CHF Future
|
FNX
|
YFA Curncy
|
0#SS:
|
FxFuture
|
ICE Futures US Currencies
|
GBP/JPY Future
|
FNX
|
YKA Curncy
|
0#SY:
|
FxFuture
|
ICE Futures US Currencies
|
GBP/NOK Future
|
FNX
|
ZKA Curncy
|
0#PKC:
|
FxFuture
|
ICE Futures US Currencies
|
GBP/NZD Future
|
FNX
|
ZHA Curncy
|
0#GNC:
|
FxFuture
|
ICE Futures US Currencies
|
GBP/USD Future
|
FNX
|
MPA Curncy
|
0#MM:
|
FxFuture
|
ICE Futures US Currencies
|
JPY/USD Future
|
FNX
|
KMCA Curncy
|
0#SNK:
|
FxFuture
|
ICE Futures US Currencies
|
MSN/USD Future
|
FNX
|
KMDA Curncy
|
0#KMP:
|
FxFuture
|
ICE Futures US Currencies
|
NOK/SEK Future
|
FNX
|
NJA Curncy
|
0#JN:
|
FxFuture
|
ICE Futures US Currencies
|
NZD/JPY Future
|
FNX
|
ZQA Curncy
|
0#ZJC:
|
FxFuture
|
ICE Futures US Currencies
|
NZD/USD Future
|
FNX
|
KMEA Curncy
|
0#KZX:
|
FxFuture
|
ICE Futures US Currencies
|
USD/CZK Future
|
FNX
|
VCAA Curncy
|
0#CV:
|
FxFuture
|
ICE Futures US Currencies
|
USD/HUF Future
|
FNX
|
VUAA Curncy
|
0#HU:
|
FxFuture
|
ICE Futures US Currencies
|
USD/NOK Future
|
FNX
|
KNTA Curncy
|
0#NT:
|
FxFuture
|
ICE Futures US Currencies
|
USD/SEK Future
|
FNX
|
KXAA Curncy
|
0#XK:
|
FxFuture
|
ICE Futures US Currencies
|
USD/ZAR Future
|
FNX
|
ZOA Curncy
|
0#ZR:
|
FxFuture
|
ICE Futures US Currencies
|
Corn Future
|
CBT
|
C A Comdty
|
0#C:
|
Agricultural
|
Chicago Board of Trade
|
Soybeans Future
|
CBT
|
S A Comdty
|
0#S:
|
Agricultural
|
Chicago Board of Trade
|
Wheat Future
|
CBT
|
W A Comdty
|
0#W:
|
Agricultural
|
Chicago Board of Trade
|
Cocoa Future
|
NYB
|
CCA Comdty
|
0#CC:
|
Agricultural
|
ICE Futures US Softs
|
Coffee C Future
|
NYB
|
KCA Comdty
|
0#KC:
|
Agricultural
|
ICE Futures US Softs
|
Cotton No.2 Future
|
NYB
|
CTA Comdty
|
0#CT:
|
Agricultural
|
ICE Futures US Softs
|
Sugar No.11 Future
|
NYB
|
SBA Comdty
|
0#SB:
|
Agricultural
|
ICE Futures US Softs
|
10 year US Treasury Notes Future
|
CBT
|
TYA Comdty
|
0#TY:
|
BondFuture
|
Chicago Board of Trade
|
2 year US Treasury Notes Future
|
CBT
|
TUA Comdty
|
0#TU:
|
BondFuture
|
Chicago Board of Trade
|
30 year US Treasury Bonds Future
|
CBT
|
USA Comdty
|
0#US:
|
BondFuture
|
Chicago Board of Trade
|
5 year US Treasury Notes Future
|
CBT
|
FVA Comdty
|
0#1FV:
|
BondFuture
|
Chicago Board of Trade
|
Ultra Long-Term T Bond Future
|
CBT
|
WNA Comdty
|
0#1AUL:
|
BondFuture
|
Chicago Board of Trade
|
10 year US Treasury Notes Option
|
CBT
|
TYA Comdty
|
0#1TY+
|
BondFuture
|
Chicago Board of Trade
|
10 year US Treasury Notes Week 1 Option
|
CBT
|
1MA Comdty
|
0#1TYW+
|
BondFuture
|
Chicago Board of Trade
|
10 year US Treasury Notes Week 2 Option
|
CBT
|
2MA Comdty
|
0#1TYW+
|
BondFuture
|
Chicago Board of Trade
|
10 year US Treasury Notes Week 3 Option
|
CBT
|
3MA Comdty
|
0#1TYW+
|
BondFuture
|
Chicago Board of Trade
|
10 year US Treasury Notes Week 4 Option
|
CBT
|
4MA Comdty
|
0#1TYW+
|
BondFuture
|
Chicago Board of Trade
|
10 year US Treasury Notes Week 5 Option
|
CBT
|
5MA Comdty
|
0#1TYW+
|
BondFuture
|
Chicago Board of Trade
|
2 year US Treasury Notes Option
|
CBT
|
TUA Comdty
|
0#1TU+
|
BondFuture
|
Chicago Board of Trade
|
30 year US Treasury Bond Option
|
CBT
|
USA Comdty
|
0#1US+
|
BondFuture
|
Chicago Board of Trade
|
30 year US Treasury Bond Week 1 Option
|
CBT
|
1CA Comdty
|
0#1USW+
|
BondFuture
|
Chicago Board of Trade
|
30 year US Treasury Bond Week 2 Option
|
CBT
|
2CA Comdty
|
0#1USW+
|
BondFuture
|
Chicago Board of Trade
|
30 year US Treasury Bond Week 3 Option
|
CBT
|
3CA Comdty
|
0#1USW+
|
BondFuture
|
Chicago Board of Trade
|
30 year US Treasury Bond Week 4 Option
|
CBT
|
4CA Comdty
|
0#1USW+
|
BondFuture
|
Chicago Board of Trade
|
30 year US Treasury Bond Week 5 Option
|
CBT
|
5CA Comdty
|
0#1USW+
|
BondFuture
|
Chicago Board of Trade
|
5 year US Treasury Notes Option
|
CBT
|
FVA Comdty
|
0#1FV+
|
BondFuture
|
Chicago Board of Trade
|
5 year US Treasury Notes Week 1 Option
|
CBT
|
1IA Comdty
|
0#2FVW+
|
BondFuture
|
Chicago Board of Trade
|
5 year US Treasury Notes Week 2 Option
|
CBT
|
2IA Comdty
|
0#2FVW+
|
BondFuture
|
Chicago Board of Trade
|
5 year US Treasury Notes Week 3 Option
|
CBT
|
3IA Comdty
|
0#2FVW+
|
BondFuture
|
Chicago Board of Trade
|
5 year US Treasury Notes Week 4 Option
|
CBT
|
4IA Comdty
|
0#2FVW+
|
BondFuture
|
Chicago Board of Trade
|
5 year US Treasury Notes Week 5 Option
|
CBT
|
5IA Comdty
|
0#2FVW+
|
BondFuture
|
Chicago Board of Trade
|
Ultra Long-Term T Bond Option
|
CBT
|
WNA Comdty
|
0#1AUL+
|
BondFuture
|
Chicago Board of Trade
|
10 year Italian Bond Future
|
EUX
|
IKA Comdty
|
0#FBTP:
|
BondFuture
|
EUREX
|
2 year Euro-Schatz Future
|
EUX
|
DUA Comdty
|
0#FGBS:
|
BondFuture
|
EUREX
|
3 year Italian Bond Future
|
EUX
|
BTSA Comdty
|
0#FBTS:
|
BondFuture
|
EUREX
|
Euro-BOBL Future
|
EUX
|
OEA Comdty
|
0#FGBM:
|
BondFuture
|
EUREX
|
Euro-BUND Future
|
EUX
|
RXA Comdty
|
0#FGBL:
|
BondFuture
|
EUREX
|
Euro-BUXL Future
|
EUX
|
UBA Comdty
|
0#FGBX:
|
BondFuture
|
EUREX
|
Euro-OAT Futures
|
EUX
|
OATA Comdty
|
0#FOAT:
|
BondFuture
|
EUREX
|
Mid-Term Euro-OAT Future
|
EUX
|
BTAA Comdty
|
0#FOAM:
|
BondFuture
|
EUREX
|
2 year Euro-Schatz Option
|
EUX
|
DUA Comdty
|
0#OGBS+
|
BondFuture
|
EUREX
|
Euro-BOBL Option
|
EUX
|
OEA Comdty
|
0#OGBM+
|
BondFuture
|
EUREX
|
Euro-BUND Option
|
EUX
|
RXA Comdty
|
0#OGBL+
|
BondFuture
|
EUREX
|
Long Gilt Future
|
LIF
|
G A Comdty
|
0#FLG:
|
BondFuture
|
NYSE LIFFE - London
|
Medium Gilt Future
|
LIF
|
WXA Comdty
|
0#H:
|
BondFuture
|
NYSE LIFFE - London
|
Short Gilt Future
|
LIF
|
WBA Comdty
|
0#G:
|
BondFuture
|
NYSE LIFFE - London
|
Brent Crude Monthly Future
|
ICE
|
COA Comdty
|
0#LCO:
|
Energy
|
ICE Futures Europe
|
WTI Crude Future
|
ICE
|
ENA Comdty
|
0#WTCL:
|
Energy
|
ICE Futures Europe
|
E-mini Crude Oil Future
|
NYM
|
ECA Comdty
|
0#QM:
|
Energy
|
CME.NYMEX Exchange
|
Heating Oil Future
|
NYM
|
HOA Comdty
|
0#HO:
|
Energy
|
CME.NYMEX Exchange
|
Henry Hub Natural Gas Future
|
NYM
|
NGA Comdty
|
0#NG:
|
Energy
|
CME.NYMEX Exchange
|
Light Sweet Crude Oil (WTI) Future
|
NYM
|
CLA Comdty
|
0#CL:
|
Energy
|
CME.NYMEX Exchange
|
NY Harbor RBOB Gasoline Future
|
NYM
|
XBA Comdty
|
0#RB:
|
Energy
|
CME.NYMEX Exchange
|
Light Sweet Crude Oil (WTI) American Option
|
NYM
|
CLA Comdty
|
0#CL+
|
Energy
|
CME.NYMEX Exchange
|
S&P 500 Volatility Index Future
|
CBF
|
UXA Index
|
0#VX:
|
EquityIndex
|
CBOE Futures Exchange
|
E-mini Dow Option
|
CBT
|
DMA Index
|
0#1YM+
|
EquityIndex
|
Chicago Board of Trade
|
E-Mini S&P 500 Future
|
CME
|
ESA Index
|
0#ES:
|
EquityIndex
|
Chicago Mercantile Exchange
|
Nasdaq-100 Future
|
CME
|
NQA Index
|
0#ND:
|
EquityIndex
|
Chicago Mercantile Exchange
|
Nikkei 225 (JPY) Future
|
CME
|
NHA Index
|
0#NIY:
|
EquityIndex
|
Chicago Mercantile Exchange
|
Nikkei 225 Future
|
CME
|
NXA Index
|
0#NK:
|
EquityIndex
|
Chicago Mercantile Exchange
|
E-Mini S&P 500 Option
|
CME
|
ESA Index
|
0#ES+
|
EquityIndex
|
Chicago Mercantile Exchange
|
E-mini S&P 500 Week 1 Option
|
CME
|
1EA Index
|
0#1ESW+
|
EquityIndex
|
Chicago Mercantile Exchange
|
E-mini S&P 500 Week 2 Option
|
CME
|
2EA Index
|
0#1ESW+
|
EquityIndex
|
Chicago Mercantile Exchange
|
E-mini S&P 500 Week 3 Option
|
CME
|
2EA Index
|
0#1ESW+
|
EquityIndex
|
Chicago Mercantile Exchange
|
E-mini S&P 500 Week 4 Option
|
CME
|
4EA Index
|
0#1ESW+
|
EquityIndex
|
Chicago Mercantile Exchange
|
S&P 500 Option
|
CME
|
SPA Index
|
0#SP+
|
EquityIndex
|
Chicago Mercantile Exchange
|
S&P 500 Week 1 Option
|
CME
|
1DA Index
|
0#1SPW+
|
EquityIndex
|
Chicago Mercantile Exchange
|
S&P 500 Week 2 Option
|
CME
|
2DA Index
|
0#1SPW+
|
EquityIndex
|
Chicago Mercantile Exchange
|
S&P 500 Week 3 Option
|
CME
|
2DA Index
|
0#1SPW+
|
EquityIndex
|
Chicago Mercantile Exchange
|
S&P 500 Week 4 Option
|
CME
|
4DA Index
|
0#1SPW+
|
EquityIndex
|
Chicago Mercantile Exchange
|
DAX Index Future
|
EUX
|
GXA Index
|
0#FDX:
|
EquityIndex
|
EUREX
|
FTSE 100 Index Future
|
LIF
|
Z A Index
|
0#FFI:
|
EquityIndex
|
NYSE LIFFE - London
|
30 day Federal Funds Future
|
CBT
|
FFA Comdty
|
0#FF:
|
InterestRate
|
Chicago Board of Trade
|
1 Month Eurodollar Future
|
CME
|
EMA Comdty
|
0#GLB:
|
InterestRate
|
Chicago Mercantile Exchange
|
Eurodollar Future
|
CME
|
EDA Comdty
|
0#GE:
|
InterestRate
|
Chicago Mercantile Exchange
|
EuroYen Future
|
CME
|
EDA Comdty
|
0#EY:
|
InterestRate
|
Chicago Mercantile Exchange
|
1 Month Eurodollar Option
|
CME
|
WCA Comdty
|
0#2EM+
|
InterestRate
|
Chicago Mercantile Exchange
|
Eurodollar Option
|
CME
|
EDA Comdty
|
0#1ED+
|
InterestRate
|
Chicago Mercantile Exchange
|
3 month Sterling Future
|
LIF
|
L A Comdty
|
0#FSS:
|
InterestRate
|
NYSE LIFFE - London
|
3 month Sterling Option
|
LIF
|
L A Comdty
|
0#FSS+
|
InterestRate
|
NYSE LIFFE - London
|
Copper Future
|
CMX
|
HGA Comdty
|
0#HG:
|
Metals
|
CME.COMEX division of NYMEX
|
Gold Future
|
CMX
|
GCA Comdty
|
0#GC:
|
Metals
|
CME.COMEX division of NYMEX
|
miNY Gold Future
|
CMX
|
BQA Comdty
|
0#QO:
|
Metals
|
CME.COMEX division of NYMEX
|
Silver Future
|
CMX
|
SIA Comdty
|
0#SI:
|
Metals
|
CME.COMEX division of NYMEX
|
Copper Option
|
CMX
|
HGA Comdty
|
0#HG+
|
Metals
|
CME.COMEX division of NYMEX
|
Gold Option
|
CMX
|
GCA Comdty
|
0#GC+
|
Metals
|
CME.COMEX division of NYMEX
|
Silver Option
|
CMX
|
SIA Comdty
|
0#SI+
|
Metals
|
CME.COMEX division of NYMEX
|
Palladium Future
|
NYM
|
PAA Comdty
|
0#PA:
|
Metals
|
CME.NYMEX Exchange
|
Platinum Future
|
NYM
|
PLA Comdty
|
0#PL:
|
Metals
|
CME.NYMEX Exchange
|
US Dollar Index Future
|
FNX
|
DXA Curncy
|
0#DX:
|
Other
|
ICE Futures US Currencies
|
(a) |
The Advisor agrees as follows:
|
CERES MANAGED FUTURES LLC
|
QUANTICA CAPITAL AG
|
|||
By:
|
/s/ Patrick T. Egan
|
By:
|
/s/ Bruno Gmür
|
|
Name: Patrick T. Egan
|
Name: Bruno Gmür
|
|||
Title: President and Director
|
Title: Founder & CIO
|
|||
CERES ORION L.P.
|
By:
|
/s/ Nicolas Mirjolet
|
||
Name: Nicolas Mirjolet
|
||||
By:
|
Ceres Managed Futures LLC
(General Partner) |
Title: CEO
|
||
By:
|
/s/ Patrick T. Egan
|
|||
Patrick T. Egan
|
||||
President and Director
|
Allocation Amount
|
Monthly Management Fee (“Management Fee”)
|
Annual Incentive Fee
(“Incentive Fee”)
|
$1 – $49,999,999
|
0.75%
|
20%
|
$50,000,000 or more
|
0.60%
|
20%
|
1. |
The Partnership will invest its assets only in commodity interests that an advisor believes are traded in sufficient volume to permit ease of taking and liquidating positions. Sufficient volume, in this context,
refers to a level of liquidity that an advisor believes will permit it to enter and exit trades without noticeably moving the market.
|
2. |
The Adviser will not initiate additional positions in any commodity interest if these positions would result in aggregate positions requiring margin of more than 66 2/3% of the Partnership’s net assets allocated to
that advisor. To the extent the CFTC and/or exchanges have not otherwise established margin requirements with respect to particular contracts: (i) forward contracts in currencies will be deemed to have approximately the same margin
requirements as the same or similar futures contracts traded on the Chicago Mercantile Exchange; and (ii) swap contracts will be deemed to have margin requirements equivalent to the collateral deposits, if any, made with swap counterparties.
|
3. |
The Partnership may occasionally accept delivery of a commodity. Unless such delivery is disposed of promptly by retendering the warehouse receipt representing the delivery to the appropriate clearinghouse, the
physical commodity position will be fully hedged.
|
4. |
The Partnership will not employ the trading technique commonly known as “pyramiding,” in which the speculator uses unrealized profits on existing positions as margin for the purchase or sale of additional positions
in the same or related commodities.
|
5. |
The Partnership will not utilize borrowings except short‑term borrowings if the Partnership takes delivery of any cash commodities.
|
6. |
The Advisor may from time to time employ trading strategies such as spreads or straddles on behalf of the Partnership. The term “spread” or “straddle” describes a commodity futures trading strategy involving the
simultaneous buying and selling of futures contracts on the same commodity but involving different delivery dates or markets and in which the trader expects to earn a profit from a widening or narrowing of the difference between the prices of
the two contracts.
|
7. |
The Partnership will not permit the churning of its commodity trading accounts. The term “churning” refers to the practice of entering and exiting trades with a frequency unwarranted by legitimate efforts to
profit from the trades, driven by the desire to generate commission income.
|
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