(11) Offsetting

As indicated in Note (1), the Trust’s assets are currently indirectly allocated to each of the Trading Companies. All of the Trading Companies utilize RJO as their clearing broker. Each Trading Company has its own separate clearing agreement with RJO, under which each of the Trading Companies are subject to master netting agreements or similar arrangements that allow RJO to offset any assets of the individual entity by any liabilities of the individual Trading Company, as necessary, if RJO determines that the amount of margin is not appropriate or the Trading Company is not able to perform. Each of the Trading Companies hold significant cash deposits with RJO, which can be and is used by the Trading Companies to settle any obligations due to RJO. The master netting agreements or similar arrangements do not apply to amounts owed to/from different counterparties and they do not apply across different Trading Companies.

For financial reporting purposes, the Trust nets its similar derivative assets and liabilities that are subject to netting arrangements in the Statements of Financial Condition. The following tables present the Trust’s derivative assets and liabilities by investment type and by counterparty, net of amounts available for offset under a master netting agreement, along with the related collateral received or pledged by the Trading Companies (cash on deposit with broker) as of June 30, 2017 and December 31, 2016:

	Offsetting of Derivative Assets

	As of June 30, 2017							As of December 31, 2016
	Gross		Gross Amounts			Net Amounts of Assets		Gross		Gross Amounts		Net Amounts of Assets
	Amounts of		Offset in the			Presented in the		Amounts of		Offset in the		Presented in the
	Recognized		Statement of			Statement of		Recognized		Statement of		Statement of
Description	Assets		Financial Condition			Financial Condition		Assets		Financial Condition		Financial Condition

Futures and forward contracts	$	71,223	$	(9,131	)	$	62,092	$	-	$	-	$	-

	$	71,223	$	(9,131	)	$	62,092	$	-	$	-	$	-

	Derivative Assets and Collateral Held by Counterparty

	As of June 30, 2017								As of December 31, 2016
	Net Amount of								Net Amount of
Individual Trading Companies	Assets in the Statement of		Gross Amounts Not Offset in the Statement of Financial Condition						Assets in the Statement of		Gross Amounts Not Offset in the Statement of Financial Condition
(with derivative assets and	Financial		Financial		Cash Collateral		Net		Financial		Financial		Cash Collateral		Net
collateral held by RJO)	Condition		Instruments		Received		Amount		Condition		Instruments		Received		Amount

OASIS Claughton, LLC	$	62,092	$	-	$	-	$	62,092	$	-	$	-	$	-	$	-

	$	62,092	$	-	$	-	$	62,092	$	-	$	-	$	-	$	-

	Offsetting of Derivative Liabilities

	As of June 30, 2017							As of December 31, 2016
						Net Amounts of						Net Amounts of
	Gross		Gross Amounts			Liabilities		Gross		Gross Amounts		Liabilities
	Amounts of		Offset in the			Presented in the		Amounts of		Offset in the		Presented in the
	Recognized		Statement of			Statement of		Recognized		Statement of		Statement of
Description	Liabilities		Financial Condition			Financial Condition		Liabilities		Financial Condition		Financial Condition

Futures and forward contracts	$	82,706	$	(9,131	)	$	73,575	$	-	$	-	$	-

	$	82,706	$	(9,131	)	$	73,575	$	-	$	-	$	-

	Derivative Liabilities and Collateral Pledged by Counterparty

	As of June 30, 2017									As of December 31, 2016
	Net Amount of									Net Amount of
Individual Trading Companies	Liabilities in the Statement		Gross Amounts Not Offset in the Statement of Financial Condition							Liabilities in the Statement		Gross Amounts Not Offset in the Statement of Financial Condition
(with derivative liabilities and	of Financial		Financial			Cash Deposits		Net		of Financial		Financial		Cash Deposits		Net
collateral held by RJO)	Condition		Instruments			Held by Broker		Amount		Condition		Instruments		Held by Broker		Amount

OASIS RCM, LLC	$	73,575	$	(73,575	)	$	-	$	-	$	-	$	-	$	-	$	-

	$	73,575	$	(73,575	)	$	-	$	-	$	-	$	-	$	-	$	-