PLEASE READ THE IMPORTANT DISCLAIMER BELOW.
Trading futures contracts, swaps contracts and options thereof (collectively "Commodities Interests")
and physically settled commodities involve risk of loss and are not appropriate for everyone. Past
performance is not indicative of future performance.
Any market research, price reports, recommendations or other market information related to Commodity
Interests and/or physically settled commodities (collectively “Market Information”) that is communicated
(to you) and developed by True North Futures LLC ("TNF"): (i) is based upon information obtained from
sources believed by TNF to be reliable; (ii) is based solely on the opinion of TNF; (iii) may be
incomplete; and/or (iv) may be unverified. TNF makes no representation, warranty or guarantee as to, and
shall not be responsible for, the accuracy or completeness of any Market Information furnished to you,
whether developed by TNF or any third party. Changes in market conditions may affect the Market
Information. Market Information may include data that does not account for transaction costs, such as
commissions, or slippage. Therefore, actual trades made in reliance on any Market Information will
result in transaction costs and may incur slippage, which may adversely affect the value of the trade.
Any communication by TNF that contains Market Information, whether developed by TNF or any third party,
is a solicitation to enter into a Commodity Interest transaction.
With respect to any Commodity Interest and/or physically settled commodity transaction executed and/or
facilitated, as applicable, through TNF: (i) TNF acts only as agent on your behalf and not principal,
risk-less or otherwise; (ii) until such time that your TNF representative has received a binding
authorization from a counterparty to execute and/or facilitate, as applicable, a particular Commodity
Interest and/or physically settled commodity transaction, as applicable, any trade or deal related
information communicated to you by your TNF representative: (a) represents an indication of interest;
and (b) may or may not reflect actual trade related information available to you.
