Derivative Instruments and Hedging Activities

9 Months Ended

Sep. 30, 2013

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments and Hedging Activities Disclosure [Text Block]

(11) Derivative Instruments and Hedging Activities

The Trust does not utilize “hedge accounting” and instead “marks-to-market” its derivatives through operations.

Derivatives not designated as hedging instruments:

As of September 30, 2013
	Asset			Liability
Type of	Derivatives			Derivatives				Net
Futures Contracts	Fair Value			Fair Value				Fair Value
Metals		$	10,970		$	(34,035	)		$	(23,065	)
		$	10,970		$	(34,035	)		$	(23,065	)

As of December 31, 2012
	Asset			Liability
Type of	Derivatives			Derivatives				Net
Futures Contracts	Fair Value			Fair Value				Fair Value
Agriculture		$	678,316		$	(369,972	)		$	308,344
Currency			94,041			(185,622	)			(91,581	)
Energy			76,522			(202,853	)			(126,331	)
Indices			60,504			(55,851	)			4,653
Interest Rates			30,579			(20,778	)			9,801
Metals			23,749			(23,693	)			56
		$	963,711		$	(858,769	)		$	104,942

The Company has elected to present the above reported derivative assets and liabilities held by RJO on a net basis in the consolidated statements of financial condition, within the categories of unrealized gain or loss on open contracts, purchased options on futures contracts, and options written on futures contracts.  Further details are provided below:

As of September 30, 2013
	Gross					Net
	Assets		Liabilities			Assets (Liabilities)
Unrealized gain (loss) on open contracts	$	10,970	$	(34,035	)	$	(23,065	)
Total	$	10,970	$	(34,035	)	$	(23,065	)

	Gross					Net
	Assets		Liabilities			Assets (Liabilities)
Unrealized gain (loss) on open contracts	$	593,783	$	(333,039	)	$	260,744
Purchased options on futures contracts		728,440		-			728,440
Options written on futures contracts		-		(884,242	)		(884,242	)
Total	$	1,322,223	$	(1,217,281	)	$	104,942

Trading gain (loss) for the following periods:

	Nine Months Ended September 30
Type of Futures Contracts	2013			2012
Agriculture	$	264,053		$	(300,187	)
Currency		(291,173	)		(819,922	)
Energy		(221,429	)		(79,134	)
Indices		(263,585	)		(526,943	)
Interest Rates		(120,876	)		164,439
Metals		51,016			(325,576	)
	$	(581,994	)	$	(1,887,323	)

	Three Months Ended September 30,
Type of Futures Contracts		2013			2012
Agriculture	$	448,716		$	16,161
Currency		(114,491	)		(176,598	)
Energy		(208,334	)		(261,344	)
Indices		(46,465	)		(189,706	)
Interest Rates		(96,551	)		26,825
Metals		(167,282	)		68,278
	$	(184,407	)	$	(516,384	)