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        <transferAgents>
          <transferAgent>
            <transferAgentName>Gemini Fund Services, LLC</transferAgentName>
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            <transferAgentLei>N/A</transferAgentLei>
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          </transferAgent>
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        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
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            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
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          <custodian>
            <custodianName>MUFG Union Bank, NA</custodianName>
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        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
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          <admin>
            <adminName>Gemini Fund Services, LLC</adminName>
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          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokers>
          <broker>
            <brokerName>JPMorgan Chase</brokerName>
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            <brokerName>Sanford Financial Services</brokerName>
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          <broker>
            <brokerName>Goldman Sachs</brokerName>
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            <grossCommission>69246.24</grossCommission>
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          <broker>
            <brokerName>Tudor Pickering</brokerName>
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            <grossCommission>54902.61</grossCommission>
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        <aggregateCommission>145963.16</aggregateCommission>
        <principalAggregatePurchase>0</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>31263494.42</mnthlyAvgNetAssets>
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        <isSwingPricing>N</isSwingPricing>
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      <managementInvestmentQuestion>
        <mgmtInvFundName>SuperFund Managed Futures Strategy Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000040923</mgmtInvSeriesId>
        <mgmtInvLei>5493008U162MDADN7P55</mgmtInvLei>
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        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="SuperFund Managed Futures Strategy Fund Class A" sharesOutstandingClassId="C000126910" sharesOutstandingTickerSymbol="SUPRX"/>
          <sharesOutstanding sharesOutstandingClassName="SuperFund Managed Futures Strategy Fund Class I" sharesOutstandingClassId="C000126964" sharesOutstandingTickerSymbol="SUPIX"/>
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        <fundType>N/A</fundType>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <foreignInvestments isForeignSubsidiary="Y">
          <foreignInvestment foreignSubsidiaryName="Superfund Managed Futures Strategy (Cayman) Fund Ltd." foreignSubsidiaryLei="549300IZ4F3MEMMD6O66"/>
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        <isFundSecuritiesLending>N</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>0.00000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>0.00000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
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        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
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        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>SuperFund Advisors, Inc.</investmentAdviserName>
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            <investmentAdviserLei>549300IIUQWAAFP41G69</investmentAdviserLei>
            <investmentAdviserCountry>GD</investmentAdviserCountry>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
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        <transferAgents>
          <transferAgent>
            <transferAgentName>Gemini Fund Services, LLC</transferAgentName>
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            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-NE" transferAgentCountry="US"/>
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            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
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        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
            <pricingServiceLei>N/A</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
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        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
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          <custodian>
            <custodianName>MUFG Union Bank, N.A.</custodianName>
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            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
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        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
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          <shareholderServicingAgent>
            <shareholderServiceAgentName>Gemini Fund Services, LLC</shareholderServiceAgentName>
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        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>Gemini Fund Services, LLC</adminName>
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        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokers>
          <broker>
            <brokerName>INTL FCStone, Inc.</brokerName>
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        <aggregateCommission>44110</aggregateCommission>
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          <principalTransaction>
            <principalName>INTL FCStone, Inc.</principalName>
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        <principalAggregatePurchase>14043692</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>8888095</mnthlyAvgNetAssets>
        <dailyAvgNetAssets>0</dailyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
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        <isSwingPricing>N</isSwingPricing>
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      <managementInvestmentQuestion>
        <mgmtInvFundName>Affinity World Leaders Equity ETF</mgmtInvFundName>
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        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Affinity World Leaders Equity ETF" sharesOutstandingClassId="C000196754" sharesOutstandingTickerSymbol="WLDR"/>
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        <fundTypes>
          <fundType>Exchange-Traded Fund</fundType>
          <indexFundInfo fundType="Index Fund">
            <isIndexFundAffiliated>N</isIndexFundAffiliated>
            <isIndexFundExclusive>Y</isIndexFundExclusive>
            <indexFundReturnDiffBeforeExpense>-1.06</indexFundReturnDiffBeforeExpense>
            <indexFundReturnDiffAfterExpense>-0.59</indexFundReturnDiffAfterExpense>
            <indexFundReturnDailyStdevBeforeExpense>0.47</indexFundReturnDailyStdevBeforeExpense>
            <indexFundReturnDailyStdevAfterExpense>0.47</indexFundReturnDailyStdevAfterExpense>
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        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>N</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>0.00000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>0.00000000</netIncomeSecuritiesLending>
        <relyOnRuleType>N/A</relyOnRuleType>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>Y</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Regents Park Funds, LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-108885</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000284684</investmentAdviserCrdNo>
            <investmentAdviserLei>N/A</investmentAdviserLei>
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            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
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        <subAdvisers>
          <subAdviser>
            <subAdviserName>Affinity Investment Advisors, LLC</subAdviserName>
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            <subAdviserCrdNo>000108278</subAdviserCrdNo>
            <subAdviserLei>N/A</subAdviserLei>
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            <subAdviserStateCountry subAdviserState="US-CA" subAdviserCountry="US"/>
            <isSubAdviserHired>N</isSubAdviserHired>
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        <transferAgents>
          <transferAgent>
            <transferAgentName>Gemini Fund Services, LLC</transferAgentName>
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            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-NE" transferAgentCountry="US"/>
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            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
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        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
            <pricingServiceLei>N/A</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
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        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>Brown Brothers Harriman &amp; Co</custodianName>
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            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
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          <shareholderServicingAgent>
            <shareholderServiceAgentName>Brown Brothers Harriman &amp; Co</shareholderServiceAgentName>
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            <shareholderServiceIdNumberDesc>LEI</shareholderServiceIdNumberDesc>
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        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
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            <adminName>Gemini Fund Services, LLC</adminName>
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        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokers>
          <broker>
            <brokerName>Loop Capital</brokerName>
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            <grossCommission>4088.94</grossCommission>
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        <aggregateCommission>4088.94</aggregateCommission>
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          <principalTransaction>
            <principalName>JPMorgan Chase</principalName>
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        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>5565479.38</mnthlyAvgNetAssets>
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      <managementInvestmentQuestion>
        <mgmtInvFundName>Anfield Universal Fixed Income Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000040050</mgmtInvSeriesId>
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          <sharesOutstanding sharesOutstandingClassName="Anfield Universal Fixed Income Fund Class A" sharesOutstandingClassId="C000124329" sharesOutstandingTickerSymbol="AFLEX"/>
          <sharesOutstanding sharesOutstandingClassName="Anfield Universal Fixed Income Fund Class I" sharesOutstandingClassId="C000124332" sharesOutstandingTickerSymbol="AFLIX"/>
          <sharesOutstanding sharesOutstandingClassName="Anfield Universal Fixed Income Fund Class C" sharesOutstandingClassId="C000124331" sharesOutstandingTickerSymbol="AFLKX"/>
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        <fundType>N/A</fundType>
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        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
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        <netIncomeSecuritiesLending>0.00000000</netIncomeSecuritiesLending>
        <relyOnRuleType>N/A</relyOnRuleType>
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        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>Y</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Anfield Capital Management, LLC</investmentAdviserName>
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            <investmentAdviserCrdNo>000165211</investmentAdviserCrdNo>
            <investmentAdviserLei>549300IIUQWAAFP41G69</investmentAdviserLei>
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            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
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        <transferAgents>
          <transferAgent>
            <transferAgentName>Gemini Fund Services, LLC</transferAgentName>
            <transferAgentFileNo>84-06083</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-NE" transferAgentCountry="US"/>
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            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
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        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
            <pricingServiceLei>N/A</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Bloomberg</pricingServiceName>
            <pricingServiceLei>N/A</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
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        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>Interactive Brokers LLC</custodianName>
            <custodianLei>50OBSE5T5521O6SMZR28</custodianLei>
            <custodianStateCountry custodianState="US-CT" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
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          <custodian>
            <custodianName>The Huntington National Bank</custodianName>
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            <custodianStateCountry custodianState="US-OH" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
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            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
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        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>Gemini Fund Services, LLC</shareholderServiceAgentName>
            <shareholderServiceAgentLei>84-06083</shareholderServiceAgentLei>
            <shareholderServiceIdNumberDesc>Filing Number</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-NE" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>Gemini Fund Services, LLC</adminName>
            <adminLei>84-06083</adminLei>
            <idNumberDesc>filing number</idNumberDesc>
            <adminStateCountry adminState="US-NY" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <aggregateCommission>0</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>JPMORGAN CHASE</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>8I5DZWZKVSZI1NUHU748</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>13896362</principalTotalPurchaseSale>
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            <principalName>Knight Capital Group, Inc.</principalName>
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            <pricingServiceName>ICE Data Services</pricingServiceName>
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          <broker>
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      <managementInvestmentQuestion>
        <mgmtInvFundName>Redwood Systematic Macro Trend</mgmtInvFundName>
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          <securityLending>
            <securitiesAgentName>N/A</securitiesAgentName>
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        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
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        <investmentAdvisers>
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            <investmentAdviserName>Redwood Investment Management, LLC</investmentAdviserName>
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          <transferAgent>
            <transferAgentName>Gemini Fund Services, LLC</transferAgentName>
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        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
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            <transferAgentName>Gemini Fund Services, LLC</transferAgentName>
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          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
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            <shareholderServiceAgentName>Gemini Fund Services, LLC</shareholderServiceAgentName>
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            <adminName>Gemini Fund Services, LLC</adminName>
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        <aggregateCommission>0</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>MUFG Union Bank</principalName>
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        <principalAggregatePurchase>10153444</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>169280352</mnthlyAvgNetAssets>
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        <isSwingPricing>N</isSwingPricing>
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      <managementInvestmentQuestion>
        <mgmtInvFundName>Redwood AlphaFactor Tactical International Fund</mgmtInvFundName>
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        <securityLendings>
          <securityLending>
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        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
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        <isFeesWaivedRecoupable>Y</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
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          <transferAgent>
            <transferAgentName>Gemini Fund Services, LLC</transferAgentName>
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        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
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            <brokerName>Wallachbeth</brokerName>
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          <broker>
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        <isSwingPricing>N</isSwingPricing>
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      <managementInvestmentQuestion>
        <mgmtInvFundName>Redwood AlphaFactor Tactical Core Fund</mgmtInvFundName>
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        <securityLendings>
          <securityLending>
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        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
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        <isFeesWaivedRecoupable>Y</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Redwood Investment Management, LLC</investmentAdviserName>
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          <transferAgent>
            <transferAgentName>Gemini Fund Services, LLC</transferAgentName>
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          </transferAgent>
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        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
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            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
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      <managementInvestmentQuestion>
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        <securityLendings>
          <securityLending>
            <securitiesAgentName>N/A</securitiesAgentName>
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        <investmentAdvisers>
          <investmentAdviser>
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        <transferAgents>
          <transferAgent>
            <transferAgentName>Gemini Fund Services, LLC</transferAgentName>
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          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
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      <managementInvestmentQuestion>
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        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
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            <investmentAdviserName>Redwood Investment Management, LLC</investmentAdviserName>
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            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
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        <transferAgents>
          <transferAgent>
            <transferAgentName>Brown Brothers Harriman &amp; Co.</transferAgentName>
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        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
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            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
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        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
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            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
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        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
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          <shareholderServicingAgent>
            <shareholderServiceAgentName>Gemini Fund Services, LLC</shareholderServiceAgentName>
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            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
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        </shareholderServicingAgents>
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          <admin>
            <adminName>Gemini Fund Services, LLC</adminName>
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            <idNumberDesc>Filing Number</idNumberDesc>
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            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokers>
          <broker>
            <brokerName>WALLACHBETH</brokerName>
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            <brokerStateCountry brokerState="US-NJ" brokerCountry="US"/>
            <grossCommission>143</grossCommission>
          </broker>
          <broker>
            <brokerName>Virtu Financial</brokerName>
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            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
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        </brokers>
        <aggregateCommission>44214</aggregateCommission>
        <principalAggregatePurchase>106615417</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>61592804</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
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    </managementInvestmentQuestionSeriesInfo>
    <exchangeSeriesInfo>
      <exchangeTradedFund>
        <fundName>Affinity World Leaders Equity ETF</fundName>
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        <securityExchanges>
          <securityExchange fundExchange="BATS" fundsTickerSymbol="WLDR"/>
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        <isCollateralRequired>N</isCollateralRequired>
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        <standardDeviationPurchased>0</standardDeviationPurchased>
        <creationUnitPurchasedInKind>97.57</creationUnitPurchasedInKind>
        <creationUnitPurchasedSDInKind>0</creationUnitPurchasedSDInKind>
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        <percentSDRedeemed>0</percentSDRedeemed>
        <creationUnitPercentageRedeemedInKind>98.91</creationUnitPercentageRedeemedInKind>
        <creationUnitSDRedeemedInKind>0</creationUnitSDRedeemedInKind>
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        <creationUnitTransactionFeeManyUnits>0.00000000</creationUnitTransactionFeeManyUnits>
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        <purchaseCreationUnitDollarPerUnit>0.00000000</purchaseCreationUnitDollarPerUnit>
        <purchaseCreationUnitDollarPerMoreUnits>1800.00</purchaseCreationUnitDollarPerMoreUnits>
        <purchaseCreationUnitDollarPercentagePerUnit>2.00</purchaseCreationUnitDollarPercentagePerUnit>
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        <purchaseCreationUnitCashPercentagePerUnit>2.00</purchaseCreationUnitCashPercentagePerUnit>
        <isInKindETF>Y</isInKindETF>
      </exchangeTradedFund>
      <exchangeTradedFund>
        <fundName>Redwood LeaderShares AlphaFactor Core ETF</fundName>
        <etfSeriesId>S000061956</etfSeriesId>
        <securityExchanges>
          <securityExchange fundExchange="ARCD" fundsTickerSymbol="LSAF"/>
        </securityExchanges>
        <authorizedParticipants>
          <authorizedParticipant authorizedParticipantName="JPMORGAN SECURITIES, LLC" authorizedParticipantFileNo="008-07221" authorizedParticipantCrdNo="N/A" authorizedParticipantLei="7H6GLXDRUGQFU57RNE97" authorizedParticipantPurchaseValue="7648654" authorizedParticipantRedeemValue="2499708"/>
          <authorizedParticipant authorizedParticipantName="VIRTU AMERICAS, LLC" authorizedParticipantFileNo="008-51262" authorizedParticipantCrdNo="N/A" authorizedParticipantLei="5493006FX0HRYU3G2R47" authorizedParticipantPurchaseValue="59528450" authorizedParticipantRedeemValue="19182039"/>
          <authorizedParticipant authorizedParticipantName="BANK OF AMERICA MERRILL LYNCH" authorizedParticipantFileNo="008-7221" authorizedParticipantCrdNo="000007691" authorizedParticipantLei="8NAV47T0Y26Q87Y0QP81" authorizedParticipantPurchaseValue="1245859" authorizedParticipantRedeemValue="0"/>
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        <isCollateralRequired>N</isCollateralRequired>
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        <averagePercentagePurchased>0</averagePercentagePurchased>
        <standardDeviationPurchased>0</standardDeviationPurchased>
        <creationUnitPurchasedInKind>100</creationUnitPurchasedInKind>
        <creationUnitPurchasedSDInKind>0</creationUnitPurchasedSDInKind>
        <averagePercentageRedeemed>0</averagePercentageRedeemed>
        <percentSDRedeemed>0</percentSDRedeemed>
        <creationUnitPercentageRedeemedInKind>100</creationUnitPercentageRedeemedInKind>
        <creationUnitSDRedeemedInKind>0</creationUnitSDRedeemedInKind>
        <creationUnitTransactionFeePerUnit>0</creationUnitTransactionFeePerUnit>
        <creationUnitTransactionFeeManyUnits>0</creationUnitTransactionFeeManyUnits>
        <creationUnitTransactionFeePercentagePerUnit>0</creationUnitTransactionFeePercentagePerUnit>
        <creationUnitTransactionFeeCashPerUnit>0</creationUnitTransactionFeeCashPerUnit>
        <creationUnitTransactionFeeCashManyUnits>0</creationUnitTransactionFeeCashManyUnits>
        <creationUnitTransactionFeeCashPercentagePerUnit>0</creationUnitTransactionFeeCashPercentagePerUnit>
        <purchaseCreationUnitDollarPerUnit>0</purchaseCreationUnitDollarPerUnit>
        <purchaseCreationUnitDollarPerMoreUnits>600</purchaseCreationUnitDollarPerMoreUnits>
        <purchaseCreationUnitDollarPercentagePerUnit>2.00</purchaseCreationUnitDollarPercentagePerUnit>
        <purchaseCreationUnitCashPerUnit>0</purchaseCreationUnitCashPerUnit>
        <purchaseCreationUnitCashPerMoreUnits>600</purchaseCreationUnitCashPerMoreUnits>
        <purchaseCreationUnitCashPercentagePerUnit>2.00</purchaseCreationUnitCashPercentagePerUnit>
        <isInKindETF>Y</isInKindETF>
      </exchangeTradedFund>
    </exchangeSeriesInfo>
    <signature registrantSignedName="Two Roads Shared Trust" signedDate="2020-01-03" signature="Laura Szalyga" title="Treasurer"/>
  </formData>
</edgarSubmission>
