** **

**UNITED STATES SECURITIES AND EXCHANGE COMMISSION**

**Washington,D.C. 20549**

** **

**FORM 10-Q**

** **

**(MarkOne)**

 

**x**** QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THESECURITIES EXCHANGE ACT OF 1934**

 

**For thequarterly period ended March 31, 2008**

 

**OR**

 

**o****TRANSITION REPORT PURSUANT TO SECTION 13OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**

 

**For thetransition period from                 to               **

 

**CommissionFile Number 0-52384**

 

**MLTRANSTREND DTP ENHANCED FUTURESACCESS LLC**

(Exact Name of Registrantas

specified in its charter)

 

| **Delaware**                    |   | **30-0408288**                    |
|---------------------------------|--------|-----------------------------------|
| (State or other jurisdiction of |   | (IRS Employer Identification No.) |
| incorporation or organization)  |   |                              |

 

**c/o Merrill Lynch Alternative Investments LLC**

**Hopewell Corporate Campus, Building No. 2**

**1200 Merrill Lynch Drive - First Floor**

**Pennington, New Jersey 08534**

(Address of principalexecutive offices)

(Zip Code)

 

**609-274-5838**

(Registrant’s telephonenumber, including area code)

 

Indicate by check markwhether the registrant (1) has filed all reports required to be filed by Section 13or 15(d) of the Securities Exchange Act of 1934 during the preceding 12months (or for such shorter period that the registrant was required to filesuch reports), and (2) has been subject to such filing requirements forthe past 90 days.
|   |   |   | Yes  x | No  o |
|--------|--------|--------|------------------|-----------------|

 

Indicate by check markwhether the registrant is a large accelerated filer, an accelerated filer, anon-accelerated filer, or a smaller reporting company. See definitions of“large accelerated filer,” “accelerated filer,” and “smaller reporting company”in Rule 12b-2 of the Exchange Act. (Check one):

 

| Large accelerated filer  o                     |   | Accelerated filer o          |
|------------------------------------------------|--------|-----------------------------------|
|                                           |   |                              |
| Non-accelerated filer x                        |   | Smaller reporting  company o |
| (Do not check if a  smaller reporting company) |   |                              |

 

Indicateby check mark whether registrant is a shell company (as defined by Rule 12b-2of the Exchange Act).
|   |   |   | Yes  o | No  x |
|--------|--------|--------|------------------|-----------------|

 

Indicateby check mark whether the registrant has filed all documents and reportsrequired to be filed by Sections 12, 13 or 15(d) of the SecuritiesExchange Act of 1934 subsequent to the distribution of securities under a planconfirmed by a court.
|   |   | Yes    o | No  o |
|--------|--------|--------------------|-----------------|

 

Thelimited partnership units of the registrant are not publicly traded.Accordingly, there is no aggregate market value for registrant’s outstandingequity that is readily determinable.

 

 

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**ML TRANSTREND DTP ENHANCEDFUTURESACCESS LLC**

 

QUARTERLY REPORT FOR MARCH 31,2008 ON FORM 10-Q

 

Table of Contents

 
| ** ** | PART I                                                                                 | ** ** | **PAGE** |
|------------|---------------------------------------------------------------------------------------------|------------|----------|
|       |                                                                                        |       |     |
| Item 1.    | Financial  Statements                                                                       |       | 1        |
|       |                                                                                        |       |     |
| Item 2.    | Management’s  Discussion and Analysis of Financial Condition and Results of Operations |       | 8        |
|       |                                                                                        |       |     |
| Item 3.    | Quantitative  and Qualitative Disclosures About Market Risk                                 |       | 10       |
|       |                                                                                        |       |     |
| Item 4.    | Controls and  Procedures                                                                    |       | 12       |
|       |                                                                                        |       |     |
|       | PART II                                                                                |       |     |
|       |                                                                                        |       |     |
| Item 1.    | Legal Proceedings                                                                           |       | 13       |
|       |                                                                                        |       |     |
| Item 1A.   | Risk Factors                                                                                |       | 13       |
|       |                                                                                        |       |     |
| Item 2.    | Unregistered  Sales of Equity Securities and Use of Proceeds                                |       | 15       |
|       |                                                                                        |       |     |
| Item 3.    | Defaults  Upon Senior Securities                                                            |       | 15       |
|       |                                                                                        |       |     |
| Item 4.    | Submission  of Matters to a Vote of Security Holders                                        |       | 15       |
|       |                                                                                        |       |     |
| Item  5.   | Other  Information                                                                          |       | 16       |
|       |                                                                                        |       |     |
| Item  6.   | Exhibits                                                                                    |       | 16       |

 

----

 

PART I -FINANCIAL INFORMATION

 

Item 1.             Financial Statements

 

ML TRANSTREND DTP ENHANCED FUTURESACCESS LLC

(a Delaware LimitedLiability Company)

 

STATEMENTS OF FINANCIALCONDITION

 
| ** **                                                                                         | ** ** | **March 31 ,  2008** | ** **  | **December 31, 2007** | ** ** |
|----------------------------------------------------------------------------------------------------|------------|--------------------------------|-------------|---------------------------------|------------|
| ** **                                                                                         | ** ** | **(unaudited)**                | ** **  | ** **                      | ** ** |
| **ASSETS:**                                                                                        |       |                           |        |                            |       |
| Equity in  commodity futures trading accounts:                                                     |       |                           |        |                            |       |
| Cash (including  restricted cash of $10,660,338 for 2008 and $16,474,936 for 2007)                 |       | $                              | 135,621,888 |                            | $          | 117,567,915 |   |
| Net unrealized  profit on open contracts                                                           |       | 1,820,788                      |        | 3,742,826                       |       |
| Cash                                                                                               |       | 39,948                         |        | —                          |       |
| Deferred  organization cost                                                                        |       | —                         |        | 12,500                          |       |
| Accrued interest  receivable                                                                       |       | 272,746                        |        | 420,348                         |       |
| **TOTAL  ASSETS**                                                                                  |       | $                              | 137,755,370 |                            | $          | 121,743,589 |   |
|                                                                                               |       |                           |        |                            |       |
| **LIABILITIES  AND MEMBERS’ CAPITAL**                                                         |       |                           |        |                            |       |
| LIABILITIES:                                                                                       |       |                           |        |                            |       |
| Brokerage  commissions payable                                                                     |       | $                              | 29,786      |                            | $          | 45,548 |   |
| Management fee  payable                                                                            |       | 118,529                        |        | 89,876                          |       |
| Initial offering  costs payable                                                                    |       | 50,000                         |        | 50,000                          |       |
| Performance fee  payable                                                                           |       | 2,643,059                      |        | 4,716,569                       |       |
| Sponsor fee  payable                                                                               |       | 10,248                         |        | 3,863                           |       |
| Redemptions  payable                                                                               |       | 6,310,179                      |        | 4,152,868                       |       |
| Other                                                                                              |       | 26,263                         |        | 28,587                          |       |
|                                                                                               |       |                           |        |                            |       |
| Total  liabilities                                                                                 |       | 9,188,064                      |        | 9,087,311                       |       |
|                                                                                               |       |                           |        |                            |       |
| MEMBERS’  CAPITAL:                                                                            |       |                           |        |                            |       |
| Members’  Interest (94,045,955 and 87,680,115 Units outstanding, unlimited Units  authorized) |       | 128,567,306                    |        | 112,656,278                     |       |
| Total members’  capital                                                                       |       | 128,567,306                    |        | 112,656,278                     |       |
|                                                                                               |       |                           |        |                            |       |
| **TOTAL  LIABILITIES AND MEMBERS’ CAPITAL**                                                   |       | $                              | 137,755,370 |                            | $          | 121,743,589 |   |

 
| **NET ASSET VALUE PER UNIT (NOTE 2)** |
|---------------------------------------|

 
| See notes to financial statements. |
|------------------------------------|

 

1

----

 

ML TRANSTREND DTP ENHANCED FUTURESACCESS LLC

(a Delaware Limited Liability Company)

 

STATEMENT OF OPERATIONS

For the three monthsended March 31, 2008

(unaudited)

 
| ** **                                    | ** ** | **For the three  months ended** | ** ** |
|-----------------------------------------------|------------|------------------------------------------------|------------|
| ** **                                    | ** ** | **March 31, 2008**                   | ** ** |
| **TRADING  PROFIT (LOSS):**                   |       |                                           |       |
|                                          |       |                                           |       |
| Realized                                      |       | $                                              | 12,947,588 |   |
| Change in  unrealized                         |       | (1,922,038                                     | )          |
| Brokerage  commissions                        |       | (142,797                                       | )          |
|                                          |       |                                           |       |
| Total trading  profit                         |       | 10,882,753                                     |       |
|                                          |       |                                           |       |
| **INVESTMENT  INCOME:**                       |       |                                           |       |
| Interest                                      |       | 889,685                                        |       |
|                                          |       |                                           |       |
| **EXPENSES:**                                 |       |                                           |       |
| Management fee                                |       | 388,748                                        |       |
| Performance fee                               |       | 2,613,194                                      |       |
| Sponsor fee                                   |       | 16,588                                         |       |
| Other                                         |       | 51,228                                         |       |
|                                          |       |                                           |       |
| Total expenses                                |       | 3,069,758                                      |       |
|                                          |       |                                           |       |
| **NET  INVESTMENT LOSS**                      |       | (2,180,073                                     | )          |
|                                          |       |                                           |       |
| **NET  INCOME**                               |       | $                                              | 8,702,680  |   |
|                                          |       |                                           |       |
| **NET  INCOME PER UNIT:**                     |       |                                           |       |
|                                          |       |                                           |       |
| Weighted average  number of Units outstanding |       |                                           |       |
| Class A                                  |       | 199,530                                        |       |
| Class C                                  |       | 1,977,503                                      |       |
| Class D                                  |       | 1,889,794                                      |       |
| Class I                                  |       | 660,658                                        |       |
| Class D-SM                               |       | 17,122,192                                     |       |
| Class D-TF                               |       | 72,005,554                                     |       |
|                                          |       |                                           |       |
| Net Income per  weighted average Unit         |       |                                           |       |
| Class A                                  |       | $                                              | 0.0490     |   |
| Class C                                  |       | $                                              | 0.0564     |   |
| Class D                                  |       | $                                              | 0.0549     |   |
| Class I                                  |       | $                                              | 0.0727     |   |
| Class D-SM                               |       | $                                              | 0.0911     |   |
| Class D-TF                               |       | $                                              | 0.0954     |   |

 

See notes to financial statements.

 

2

----

 

ML TRANSTREND DTP ENHANCED FUTURESACCESS LLC

(a Delaware LimitedLiability Company)

 

STATEMENTS OF CHANGES INMEMBERS’ CAPITAL

For the three monthsended March 31, 2008

(unaudited)

 
| ** **                 | ** ** | **Members’ Capital**  | ** ** | ** **        | ** ** | ** **      | ** ** | **Members’ Capital** | ** ** |
|----------------------------|------------|---------------------------------|------------|-------------------|------------|-----------------|------------|--------------------------------|------------|
| ** **                 | ** ** | **December 31, 2007** | ** ** | **Subscriptions** | ** ** | **Redemptions** | ** ** | **March 31, 2008**   | ** ** |
|                       |       |                            |       |              |       |            |       |                           |       |
| Class A               |       | 107,731                         |       | 220,784           |       | —          |       | 328,515                        |       |
| Class C               |       | 752,226                         |       | 2,518,883         |       | —          |       | 3,271,109                      |       |
| Class D               |       | 750,000                         |       | 1,815,789         |       | (750,000        | )          | 1,815,789                      |       |
| Class I               |       | 590,000                         |       | 117,824           |       | —          |       | 707,824                        |       |
| Class D-SM            |       | 13,766,729                      |       | 5,787,200         |       | —          |       | 19,553,929                     |       |
| Class D-TF            |       | 71,713,429                      |       | 670,936           |       | (4,015,576      | )          | 68,368,789                     |       |
|                       |       |                            |       |              |       |            |       |                           |       |
| Total Members’  Units |       | 87,680,115                      |       | 11,131,416        |       | (4,765,576      | )          | 94,045,955                     |       |

 
| ** **                    | ** ** | **Members’ Capital**  | ** **  | ** **        | ** ** | ** **      | ** ** | ** **                      | ** ** | **Members’ Capital** | ** ** |
|-------------------------------|------------|---------------------------------|-------------|-------------------|------------|-----------------|------------|---------------------------------|------------|--------------------------------|------------|
| ** **                    | ** ** | **December 31, 2007** | ** **  | **Subscriptions** | ** ** | **Redemptions** | ** ** | **Net Income (Loss)** | ** ** | **March 31, 2008**   | ** ** |
|                          |       |                            |        |              |       |            |       |                            |       |                           |       |
| Class A                  |       | $                               | 118,484     |              | $          | 253,830         |       | $                               | —     |                           | $          | 9,768 |   | $ | 382,082 |   |
| Class C                  |       | 797,979                         |        | 2,756,300         |       | —          |       | 111,626                         |       | 3,665,905                      |       |
| Class D                  |       | 701,576                         |        | 1,749,999         |       | (747,000        | )          | 103,828                         |       | 1,808,403                      |       |
| Class I                  |       | 625,944                         |        | 127,480           |       | —          |       | 48,059                          |       | 801,483                        |       |
| Class D-SM               |       | 17,927,148                      |        | 7,732,063         |       | —          |       | 1,559,432                       |       | 27,218,643                     |       |
| Class D-TF               |       | 92,485,147                      |        | 898,855           |       | (5,563,179      | )          | 6,869,967                       |       | 94,690,790                     |       |
|                          |       |                            |        |              |       |            |       |                            |       |                           |       |
| Total Members’  interest |       | $                               | 112,656,278 |              | $          | 13,518,527      |       | $                               | (6,310,179 | )                              | $          | 8,702,680 |   | $ | 128,567,306 |   |

 

See notes to financialstatements.

 

3

----

 

ML TRANSTREND DTPENHANCED FUTURESACCESS LLC

(a Delaware LimitedLiability Company)

 

NOTES TO FINANCIALSTATEMENTS

(unaudited)

 

1.               SUMMARYOF SIGNIFICANT ACCOUNTING POLICIES

 

ML Transtrend DTP EnhancedFuturesAccess LLC (the “Fund”) was organized under the Delaware LimitedLiability Company Act on March 8, 2007 and commenced trading activities onApril 2, 2007. The Fund issues new units of limited liability companyinterest (“Units”) at Net Asset Value per Unit as of the beginning of eachcalendar month. The Fund engages in the speculative trading of futures, optionson futures and forward contracts on a wide range of commodities. TranstrendB.V. (“Transtrend”) is the trading advisor of the Fund.

 

Merrill Lynch AlternativeInvestments LLC (“MLAI”) is the Sponsor (“Sponsor”) and Manager (“Manager”) ofthe Fund. MLAI is an indirect wholly-owned subsidiary of Merrill Lynch &Co., Inc. (“Merrill Lynch”). Merrill Lynch, Pierce, Fenner &Smith Incorporated (“MLPF&S”), a wholly-owned subsidiary of Merrill Lynch,is the Fund’s commodity broker.

 

In the opinion of management, the financial statementscontain all adjustments necessary to present fairly the financial position ofthe Fund as of March 31, 2008 and the results of its operations for thethree months ended March 31, 2008. However, the operating results for the interim period may not beindicative of the results for the full year.

 

Certain information and footnote disclosures normallyincluded in annual financial statements prepared in accordance with accountingprinciples generally accepted in the United States of America (“U.S. GAAP”)have been omitted.  It is suggested thatthese financial statements be read in conjunction with the financial statementsand notes thereto included in the Fund’s Annual Report on Form 10-K filedwith the Securities Exchange Commission for the period ended December 31,2007.

 

The preparation of financial statements in conformitywith U.S. GAAP requires management to make estimates and assumptions thataffect the reported amounts of assets and liabilities and disclosure ofcontingent assets and liabilities at the date of the financial statements andthe reported amounts of revenues and expenses during the reporting period.  Actual results could differ from thoseestimates. Certain prior year items have been reclassified to conform to thecurrent year presentation.

 

2.               NETASSET VALUE PER UNIT

 

For financial reporting purposes, in conformity withU.S. GAAP, the Fund amortizes over a twelve-month period the total initialoffering costs payable to MLAI for purposes of determining Net AssetValue.  For all other purposes, includingcomputing Net Asset Value for purposes of member subscription and redemptionactivity, such costs are amortized over 60 months.  Consequently, the Net Asset Value and NetAsset Value per Unit of the different Classes for financial reporting purposesand for all other purposes at March 31, 2008 and December 31, 2007are as follows:

 

4

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March 31,2008

 
| ** **      | ** ** | **Net Asset Value**    | ** **  | ** **               | ** ** | **Net Asset Value per Unit** | ** ** |
|-----------------|------------|----------------------------------|-------------|--------------------------|------------|--------------------------------------------------|------------|
| ** **      | ** ** | **All Other Purposes** | ** **  | **Financial  Reporting** | ** ** | **Number of  Units**                        | ** ** | **All Other  Purposes** | ** ** | **Financial  Reporting** | ** ** |
| Class A    |       | $                                | 382,126     |                     | $          | 382,082                                          |       | 328,515 |   | $ | 1.1632 |   | $ | 1.1631 |   |
| Class C    |       | 3,666,318                        |        | 3,665,905                |       | 3,271,109                                        |       | 1.1208 |   | 1.1207 |   |
| Class D    |       | 1,808,574                        |        | 1,808,403                |       | 1,815,789                                        |       | 0.9960 |   | 0.9959 |   |
| Class I    |       | 801,579                          |        | 801,483                  |       | 707,824                                          |       | 1.1325 |   | 1.1323 |   |
| Class D-SM |       | 27,222,673                       |        | 27,218,643               |       | 19,553,929                                       |       | 1.3922 |   | 1.3920 |   |
| Class D-TF |       | 94,721,041                       |        | 94,690,790               |       | 68,368,789                                       |       | 1.3854 |   | 1.3850 |   |
|            |       |                             |        |                     |       |                                             |       |   |   |   |   |
|            |       | $                                | 128,602,311 |                     | $          | 128,567,306                                      |       | 94,045,955 |   |   |   |   |   |
|                 |            |                                  |             |                          |            |                                                  |            |  |  |  |  |  |  |  |  |

 

December 31,2007

 
| ** **      | ** ** | **Net Asset Value**    | ** **  | ** **               | ** ** | **Net Asset Value per Unit** | ** ** |
|-----------------|------------|----------------------------------|-------------|--------------------------|------------|--------------------------------------------------|------------|
| ** **      | ** ** | **All Other Purposes** | ** **  | **Financial  Reporting** | ** ** | **Number of  Units**                        | ** ** | **All Other  Purposes** | ** ** | **Financial  Reporting** | ** ** |
| Class A    |       | $                                | 118,495     |                     | $          | 118,484                                          |       | 107,731 |   | $ | 1.0999 |   | $ | 1.0998 |   |
| Class C    |       | 798,078                          |        | 797,979                  |       | 752,226                                          |       | 1.0610 |   | 1.0608 |   |
| Class D    |       | 701,608                          |        | 701,576                  |       | 750,000                                          |       | 0.9355 |   | 0.9354 |   |
| Class I    |       | 625,977                          |        | 625,944                  |       | 590,000                                          |       | 1.0610 |   | 1.0609 |   |
| Class D-SM |       | 17,928,995                       |        | 17,927,148               |       | 13,766,729                                       |       | 1.3023 |   | 1.3022 |   |
| Class D-TF |       | 92,508,129                       |        | 92,485,147               |       | 71,713,429                                       |       | 1.2900 |   | 1.2896 |   |
|            |       |                             |        |                     |       |                                             |       |   |   |   |   |
|            |       | $                                | 112,681,282 |                     | $          | 112,656,278                                      |       | 87,680,115 |   |   |   |   |   |
|                 |            |                                  |             |                          |            |                                                  |            |  |  |  |  |  |  |  |  |

 

3.               MARKET AND CREDIT RISKS

 

The nature of this Fund has certain risks, which cannot be presented onthe financial statements.  The followingsummarizes some of those risks.

 

Market Risk

 

Derivative instruments involve varying degrees of market risk.  Changes in the level or volatility ofinterest rates, foreign currency exchange rates or the market values of thefinancial instruments or commodities underlying such derivative instrumentsfrequently result in changes in the Fund’s Net unrealized profit on suchderivative instruments as reflected in the Statement of FinancialCondition.  The Fund’s exposure to marketrisk is influenced by a number of factors, including the relationships amongthe derivative instruments held by the Fund as well as the volatility andliquidity of the markets in which the derivative instruments are traded.Investments in foreign markets may also entail legal and political risks.

 

5

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MLAI hasprocedures in place intended to control market risk exposure, although therecan be no assurance that they will, in fact, succeed in doing so.  These procedures focus primarily onmonitoring the trading of Transtrend, calculating the Net Asset Value of theFund as of the close of business on each day and reviewing outstandingpositions for over-concentrations.  WhileMLAI does not intervene in the markets to hedge or diversify the Fund’s marketexposure, MLAI may urge Transtrend to reallocate positions in an attempt toavoid over-concentrations.  However, suchinterventions are expected to be unusual. It is expected that MLAI’s basic risk control procedures will consist ofthe ongoing process of advisor monitoring, with the market risk controls beingapplied by Transtrend.

 

Credit Risk

 

The risksassociated with exchange-traded contracts are typically perceived to be lessthan those associated with over-the-counter (non-exchange-traded) transactions,because exchanges typically provide clearinghouse arrangements in which thecollective credit (in some cases limited in amount, in some cases not) of themembers of the exchange is pledged to support the financial integrity of theexchange.  In over-the-countertransactions, on the other hand, traders must rely solely on the credit oftheir respective individual counterparties. Margins, which may be subject toloss in the event of a default, are generally required in exchange trading, andcounterparties may also require margin in the over-the-counter markets.

 

The credit riskassociated with these instruments from counterparty nonperformance is the Netunrealized profit, if any, included in the Statements of Financial Condition.The Fund attempts to mitigate this risk by dealing exclusively with MerrillLynch entities as clearing brokers.

 

The Fund, in itsnormal course of business, enters into various contracts, with MLPF&Sacting as its commodity broker.  Pursuantto the brokerage arrangement with MLPF&S (which includes a nettingarrangement), to the extent that such trading results in receivables from andpayables to MLPF&S, these receivables and payables are offset and reportedas a net receivable or payable and included in Equity in commodity futurestrading accounts in the Statements of Financial Condition.

 

4.               RECENTACCOUNTING PRONOUNCEMENTS

 

In September 2006,the Financial Accounting Standards Board (“FASB”) issued Statement of FinancialAccounting Standards No. 157, Fair Value Measurement (“FAS 157”). FAS 157defines fair value, establishes a framework for measuring fair value andexpands disclosures about fair value measurements. The Fund adopted FAS 157 as ofJanuary 1, 2008. The adoption of FAS 157 did not have a material impact onthe Fund’s financial statements.

 

Fairvalue of an investment is the amount that would be received to sell theinvestment in an orderly transaction between market participants at themeasurement date (i.e. the exit price).

 

FAS157 established a hierarchal disclosure framework which prioritizes and ranksthe level of market price observability used in measuring investments at fairvalue. Market price observability is impacted by a number of factors, includingthe type of investment and the characteristics specific to the investment.Investments with readily available active quoted prices or for which fair valuecan be measured from actively quoted prices generally will have a higher degreeof market price observability and a lesser degree of judgment used in measuringfair value.

 

Investmentsmeasured and reported at fair value are classified and disclosed in one of thefollowing categories:

 

6

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LevelI – Quoted prices are available in active markets for identical investments asof the reporting date. The type of investments included in Level I are publiclytraded investments. As required by FAS 157, the Fund does not adjust the quotedprice for these investments even in situations where the Fund holds a largeposition and a sale could reasonably impact the quoted price.

 

LevelII – Pricing inputs are other than quoted prices in active markets, which areeither directly or indirectly observable as of the reporting date, and fairvalue is determined through the use of models or other valuation methodologies.Investments which are generally included in this category are investmentsvalued using market data.

 

LevelIII – Pricing inputs are unobservable and include situations where there islittle, if any, market activity for the investment. Fair value for theseinvestments is determined using valuation methodologies that consider a rangeof factors, including but not limited to the price at which the investment wasacquired, the nature of the investment, local market conditions, trading valueson public exchanges for comparable securities, current and projected operatingperformance and financing transactions subsequent to the acquisition of theinvestment. The inputs into the determination of fair value require significantmanagement judgment. Due to the inherent uncertainty of these estimates, thesevalues may differ materially from the values that would have been used had aready market for these investments existed. Investments that are included inthis category generally are privately held debt and equity securities.

 

In certain cases, the inputs used to measure fairvalue may fall into different levels of the fair value hierarchy. In such cases,an investment’s level within the fair value hierarchy is based on the lowestlevel of input that is significant to the fair value measurement. The Sponsor’sassessment of the significance of a particular input to the fair valuemeasurement in its entirety requires judgment, and considers factors specificto the investment.

 

The following table summarizes the valuation of theFund’s investments by the above FAS 157 fair value hierarchy levels as of March 31,2008:

 
| ** **                               | ** ** | **Total** | ** ** | **Level I** | ** ** | **Level II** | ** ** | **Level III** | ** ** |
|------------------------------------------|------------|-----------|------------|------------------|------------|-------------------|------------|--------------------|------------|
| Net unrealized  profit on open contracts |       | $         | 1,820,788  |             | $          | 1,820,788         |       | N/A                |       | N/A |   |
|                                          |            |           |            |                  |            |                   |            |                    |            |  |  |

 

In March 2008, the FASB released Statement ofFinancial Accounting Standards No. 161, Disclosures about DerivativeInstruments and Hedging Activities – an amendment to FASB Statement No. 133(“FAS 161”). FAS 161 requires qualitative disclosures about objectives andstrategies for using derivatives, quantitative disclosures about fair valueamounts of and gains and losses on derivative instruments, and disclosuresabout credit-risk related contingent features in derivative agreements. Theapplication of FAS 161 is required for fiscal years beginning after November 15,2008 and interim periods within those fiscal years. Currently, the Fund isevaluating the implications of FAS 161 on its financial statements.

 

7

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Item2.             Management’sDiscussion and Analysis of Financial Condition and Results of Operations

 

MONTH-END NET ASSET VALUE PER UNIT

(NON U.S. GAAP)

 

MLAI believes thatthe Net Asset Value used to calculate subscription and redemption value and toreport performance to investors throughout the period is the most valuable tothe Members of the Fund.  Therefore, thecharts below referencing Net Asset Value and performance measurements are basedon the Net Asset Value for all other purposes, as discussed in Note 2 to thefinancial statements.

 

Class A

 

| ** ** | ** ** | **Jan.** | ** ** | **Feb.** | ** ** | **Mar.** | ** ** |
|------------|------------|----------|------------|----------|------------|----------|------------|
| 2008       |       | $        | 1.0964     |     | $          | 1.1567   |       | $ | 1.1632 |   |
|            |            |          |            |          |            |          |            |  |  |  |

 

Class C

 

| ** ** | ** ** | **Jan.** | ** ** | **Feb.** | ** ** | **Mar.** | ** ** |
|------------|------------|----------|------------|----------|------------|----------|------------|
| 2008       |       | $        | 1.0567     |     | $          | 1.1139   |       | $ | 1.1208 |   |
|            |            |          |            |          |            |          |            |  |  |  |

 

Class D

 

| ** ** | ** ** | **Jan.** | ** ** | **Feb.** | ** ** | **Mar.** | ** ** |
|------------|------------|----------|------------|----------|------------|----------|------------|
| 2008       |       | $        | 0.9336     |     | $          | 0.9862   |       | $ | 0.9960 |   |
|            |            |          |            |          |            |          |            |  |  |  |

 

Class I

 

| ** ** | ** ** | **Jan.** | ** ** | **Feb.** | ** ** | **Mar.** | ** ** |
|------------|------------|----------|------------|----------|------------|----------|------------|
| 2008       |       | $        | 1.0579     |     | $          | 1.1165   |       | $ | 1.1325 |   |
|            |            |          |            |          |            |          |            |  |  |  |

 

Class D-SM

 

| ** ** | ** ** | **Jan.** | ** ** | **Feb.** | ** ** | **Mar.** | ** ** |
|------------|------------|----------|------------|----------|------------|----------|------------|
| 2008       |       | $        | 1.2998     |     | $          | 1.3730   |       | $ | 1.3922 |   |
|            |            |          |            |          |            |          |            |  |  |  |

 

Class D-TF

 

| ** ** | ** ** | **Jan.** | ** ** | **Feb.** | ** ** | **Mar.** | ** ** |
|------------|------------|----------|------------|----------|------------|----------|------------|
| 2008       |       | $        | 1.2885     |     | $          | 1.3623   |       | $ | 1.3854 |   |
|            |            |          |            |          |            |          |            |  |  |  |

 

8

----

 

Performance Summary

 

January 1,2008 to March 31, 2008

 

The Fund was profitable for the first quarter of2008.  The interest rates, agriculture,energy and stock indices sectors were profitable.  The metals and currency sectors were not profitable.

 

Theinterest rate sector was the most profitable for the quarter.  In order to support the troubled bankingsector and to stimulate economic growth, the U.S. Federal Reserve Banksubstantially reduced the American base rate twice during the second half ofJanuary. This move caused strong positive results on various short and longterm interest rate positions anticipating a stronger divergence betweenAmerican and European rates. The expectation that various European centralbanks would  have to lower their baserates sooner or later led to a more and more inverse looking yield curve in themoney markets. This development was advantageous for existing positions. On theother hand, higher inflation fears helped cause a fall in bond prices, leadingto losses on purchased positions mid-quarter. The Australian central bankcontinued its tightening policy and noted that further rate hikes may be neededto curb rising inflation. Short sales in the Australian money markets earnedgains from this development. In March, the financial world was stunned by thedemise of the U.S. investment bank Bear Stearns. Thanks to variousliquidity-expanding measures by the U.S. Federal Reserve and other leadingcentral banks, the negative impact was limited.

 

Theagriculture sector was also profitable for the quarter.  Losses were booked on aluminum, copper andnickel sales early in the quarter. Notwithstanding the jumpy nature of thecommodity markets, good profits were achieved mid-quarter with corn, soybeanand sugar purchases as these products eventually continued their trends. Longpositions in coffee, cocoa and cotton booked excellent results. Purchases ofagricultural goods such as corn, wheat and soybeans not only profited from aweaker U.S. dollar but also from an increasing worldwide scarcity of supplies.At the end of the quarter, purchases of coffee, soybeans and soybean oilsuffered losses. On the other hand, lower prices meant that short positions inthe meat complex achieved gains.

 

The energy sector wasprofitable for the quarter.  The quarterstarted with energy contracts distinguished by choppy prices and had negativeresults as a consequence. Purchased crude oil, gasoil, heating oil and gasolinedropped in price while sold natural gas contracts rose in price. The energymarkets contributed to the excellent results later in the quarter thanks to anupward trend in natural gas prices and new record prices for crude oil and itsderived products. At the end of the quarter, listed products in the energymarkets showed sharp falls but did eventually experience a slight recovery.Mainly due to profits earned with purchases of natural gas, heating oil andgasoil.

 

The stock indices sector wasprofitable for the quarter.  Theperception of the credit crisis having its toll on the real economy sent stockmarkets spiraling lower. Sentiment was further worsened after a massive forcedliquidation of an allegedly fraudulent stock indices position by the number twoFrench bank Société Générale.  Newpositions were entered into mainly on the sell side. Good results were bookedon sales of Italian and American blue-chip indices while small losses were feltin the German market.  The South KoreanKospi200 index recovered somewhat after its drop at the beginning of thequarter. A short position therefore suffered. The biggest winners mid-quartercame from short sales in Australia and the U.S. A long position in the Canadianindex also contributed to the positive results.

 

The metals sector postedslight losses for the quarter.  At thebeginning of the quarter, trends in gold and silver continued, albeit with somedips, which helped long positions gain profit. Profits were also earned 

 

9

----

 

later in the quarter due tohigher prices for precious metals such as silver and platinum and base metalssuch as copper and lead. A short position in nickel did however need to beliquidated with a loss. At the end of the quarter, a sharp correction led tonegative results on long positions of various base and precious metals.

 

Thecurrency sector posted losses for the quarter. At the beginning of the quarter,increasing fears in themarket led to a flight out of high interest currencies, such as the Turkishlira. The U.S. dollar and the Euro also dropped against the Japanese yen whichresulted in losses for short Japanese yen positions. Due to a lack of a cleartrend for the greenback against the Australian dollar, the British pound andthe Hungarian forint, small losses were suffered.  A seriously slowing economy mid-quarter, agenerous monetary policy and increasing inflation did not do the U.S. dollarany favors. Some of the losses experienced early in the quarter were reversedbut not enough leaving the sector at a loss for the quarter.

 

Item 3.             Quantitative andQualitative Disclosures About Market Risk

 

The Fund is aspeculative commodity pool. The market sensitive instruments held by it areacquired for speculative trading purposes and all or substantially all of theFund’s assets are subject to the risk of trading loss.  Unlike an operating company, the risk ofmarket sensitive instruments is integral, not incidental, to the Fund’s mainline of business.

 

Market movementsresult in frequent changes in the fair market value of the Fund’s openpositions and, consequently, in its earnings and cash flow. The Fund’s marketrisk is influenced by a wide variety of factors, including the level andvolatility of interest rates, exchange rates, equity price levels, the marketvalue of financial instruments and contracts, the diversification effects amongthe Fund’s open positions and the liquidity of the markets in which it trades.

 

The Fund, underthe direction of Transtrend rapidly acquires and liquidates both long and shortpositions in currency markets. Consequently, it is not possible to predict how a particular futuremarket scenario will affect performance, and the Fund’s past performance is notnecessarily indicative of its future results.

 

Value at Risk is ameasure of the maximum amount which the Fund could reasonably be expected tolose in a given market sector. However, the inherent uncertainty of the Fund’sspeculative trading and the recurrence in the markets traded by the Fund ofmarket movements far exceeding expectations could result in actual trading ornon-trading losses far beyond the indicated Value at Risk or the Fund’sexperience to date (i.e., “risk of ruin”). In light of the foregoing, as wellas the risks and uncertainties intrinsic to all future projections, thequantifications included in this section should not be considered to constituteany assurance or representation that the Fund’s losses in any market sectorwill be limited to Value at Risk or by the Fund’s attempts to manage its marketrisk.

 

Quantifying The Fund’sTrading Value At Risk

 

QuantitativeForward-Looking Statements

 

The followingquantitative disclosures regarding the Fund’s market risk exposures contain “forward-lookingstatement” within the meaning of the safe harbor form civil liability providedfor such statements by the Private Securities Litigation Reform Act of 1995(set forth in Section 27A of the Securities Act of 1933 and Section 21Eof the Securities Exchange Act of 1934). All quantitative disclosures in this section are deemed to beforward-looking statements for purposes of the safe harbor, except forstatements of historical fact.

 

The Fund’s riskexposure in the various market sectors traded by Transtrend is quantified belowin terms of Value at Risk.  Due to theFund’s mark-to-market accounting, any loss in the fair value of the Fund’s openpositions is directly reflected in the Fund’s earnings (realized or unrealized)and cash flow (at least in the case of exchange-traded contracts in whichprofits and losses on open positions are settled daily through variationmargin).

 

10

----

 

Maintenance marginrequirements have been used by the Fund as the measure of its Value atRisk.  Maintenance margin requirementsare set by exchanges to equal or exceed the maximum loss in the fair value ofany given contract incurred in 95%-99% of the one-day time periods included inthe historical sample (generally approximately one year) researched forpurposes of establishing margin levels. The maintenance margin levels are established by dealers and exchangesusing historical price studies as well as an assessment of current marketvolatility (including the implied volatility of the options on a given futurescontract) and economic fundamentals to provide a probabilistic estimate of themaximum expected near-term one-day price fluctuation.

 

In the case of market sensitive instruments which are notexchange-traded (almost exclusively currencies in the case of the Fund), themargin requirements for the equivalent futures positions have been used asValue at Risk.  In those rare cases inwhich a futures-equivalent margin is not available, dealers’ margins have beenused.

 

100% positive correlation in the different positions held in eachmarket risk category has been assumed. Consequently, the margin requirements applicable to the open contractshave been aggregated to determine each trading category’s aggregate Value atRisk.  The diversification effectsresulting from the fact that the Fund’s positions are rarely, if ever, 100%positively correlated have not been reflected.

 

***TheFund’s Trading Value at Risk in Different Market Sectors***

 

The followingtable indicates the average, highest and lowest trading Value at Riskassociated with the Fund’s open positions by market category for the fiscal period.For the three months ended March 31, 2008 and the Fund’s average Month-endNet Asset Value for all other purposes was $120,452,097.

 

**March 31, 2008**

 
| ** **                | ** ** | **Average**                 | ** ** | **% of Average** | ** ** | **Highest Value** | ** ** | **Lowest Value** | ** ** |
|---------------------------|------------|-----------------------------|------------|----------------------------|------------|------------------------|------------|-----------------------|------------|
| **Market Sector**    | ** ** | **Value at Risk** | ** ** | **Capitalization**         | ** ** | **At Risk**       | ** ** | **At Risk**      | ** ** |
|                      |       |                        |       |                       |       |                   |       |                  |       |
| Agricultural  Commodities |       | $                           | 328,230    |                       | 0.27       | %                      | $          | 480,066               |       | $ | 46,344 |   |
| Energy                    |       | 1,252,978                   |       | 1.04                       | %          | 2,117,492              |       | 14,776                |       |
| Interest Rates            |       | 5,220,406                   |       | 4.33                       | %          | 6,770,834              |       | 2,635,987             |       |
| Metals                    |       | 344,813                     |       | 0.29                       | %          | 501,371                |       | 253,600               |       |
| Currencies                |       | 2,126,859                   |       | 1.77                       | %          | 4,072,805              |       | 292,385               |       |
| Stock Indices             |       | 437,924                     |       | 0.36                       | %          | 564,917                |       | 223,135               |       |
|                      |       |                        |       |                       |       |                   |       |                  |       |
| TOTAL                     |       | $                           | 9,711,210  |                       | 8.06       | %                      | $          | 14,507,485            |       | $ | 3,466,227 |   |

 

MaterialLimitations on Value at Risk as an Assessment of Market Risk

 

The face value of the market sectorinstruments held by the Fund is typically many times the applicable maintenancemargin requirement (maintenance margin requirements generally ranging betweenapproximately 1% and 10% of contract face value) as well as many times thecapitalization of the Fund.  Themagnitude of the Fund’s open positions creates a “risk of ruin” not typicallyfound in most other investment vehicles. Because of the size of its positions, certain market conditions —unusual, but historically recurring from time to time — could cause the Fund toincur severe losses over a short period of time.  The foregoing Value at Risk table — as wellas the past performance of the Fund — gives no indication of this “risk ofruin.”

 

11

----

 

**Non-TradingRisk**

 

ForeignCurrency Balances; Cash on Deposit with MLPF&S

 

TheFund has non-trading market risk on its foreign cash balances not needed formargin. However, these balances (as well as the market risk they represent) areimmaterial.

 

TheFund also has non-trading market risk on the approximately 90%-95% of itsassets which are held in cash at MLPF&S. The value of this cash is notinterest rate sensitive, but there is cash flow risk in that if interest ratesdecline so will the cash flow generated on these monies. This cash flow risk isimmaterial.

 

Item 4.             Controls and Procedures

 

MLAI, the Sponsorof Transtrend DTP Enhanced FuturesAccess LLC, with the participation of theSponsor’s Chief Executive Officer and the Chief Financial Officer, hasevaluated the effectiveness of the design and operation of its disclosurecontrols and procedures with respect to the Fund as of the end of the period ofthis quarterly report, and, based on this evaluation, has concluded that thesedisclosure controls and procedures are effective.  Additionally, there were no significantchanges in the Fund’s internal controls or in other factors that couldsignificantly affect these controls subsequent to the date of this evaluation,including any corrective actions with regard to significant deficiencies andmaterial weaknesses.

 

12

----

 

PART II -OTHER INFORMATION

 

Item 1.                                   Legal Proceedings

 

None.

 

Item 1A.                         Risk Factors

 

## PastPerformance Not Necessarily Indicative of Future Results

 

Past performance is not necessarily indicativeof future results.  The trading advisor’spast performance may not be representative of how it may trade in the futurefor the Fund.

 

## VolatileMarkets; Highly Leveraged Trading

 

Futures and forward trading is highly leveraged,and market price levels are volatile and materially affected by unpredictablefactors such as weather and governmental intervention.  The combination of leverage and volatilitycreates a high degree of risk.

 

## Importanceof General Market Conditions

 

Overall market or economic conditions — whichneither MLAI nor the trading advisor can predict or control — have a materialeffect on the performance of any managed futures strategy.

 

## ForwardTrading

 

The Fund will trade currencies in the forwardmarkets in addition to in the futures markets. The forward markets are over-the-counter, non-exchange markets, and intrading in these markets, the Fund will be dependent on the credit standing ofthe counterparties with which they trade, without the financial support of anyclearinghouse system.  In addition, theprices offered for the same forward contract may vary significantly amongdifferent forward market participants. Forward market counterparties are under no obligation to enter intoforward transactions with a Fund, including transactions through which the Fundis attempting to liquidate open positions.

 

## IncreasedAssets Under Management

 

There appears to be a tendency for the rates ofreturn achieved by managed futures advisors to decline as assets undermanagement increase.  The trading advisorhas not agreed to limit the amount of additional equity which it may manage.

 

## TradingAdvisor Risk

 

The Fund is subject to the risk of the badjudgment, negligence or misconduct of its trading advisor.  There have been a number of instances inrecent years in which private investment funds have incurred substantial lossesdue to manager misconduct.

 

13

----

 

## Changesin Trading Strategy

 

The trading advisor may make materialchanges in its trading strategies without the knowledge of MLAI.

 

## IlliquidMarkets

 

Certain positions held by the Fund may becomeilliquid, preventing the Fund’s trading advisor from acquiring positionsotherwise indicated by its strategy or making it impossible for the tradingadvisor to close out positions against which the market is moving.

 

Certain futures markets are subject to “dailyprice limits,” restricting the maximum amount by which the price of a particularcontract can change during any given trading day.  Once a contract’s price has moved “the limit,”it may be impossible or economically non-viable to execute trades in suchcontract.  From time to time, prices havemoved “the limit” for a number of consecutive days, making it impossible fortraders against whose positions the market was moving to prevent large losses.

 

## Tradingon Non-U.S. Exchanges

 

The trading advisor may tradeextensivelyon non-U.S. exchanges.  These exchangesare not regulated by any United States governmental agency.  The Fund could incur substantial lossestrading on foreign exchanges to which it would not have been subject had itstrading advisor limited its trading to U.S. markets.

 

The profits and losses derived from trading foreignfutures and options will generally be denominated in foreign currencies;consequently, the Fund will be subject to a certain degree of exchange-raterisk in trading such contracts.

 

The Fund Could Lose Assets and Have Its Trading Disrupted Due to theBankruptcy of One of the Parties

 

The Fund is subject to therisk of insolvency of a counterparty, an exchange, a clearinghouse orMLPF&S. Fund assets could be lost or impounded during lengthy bankruptcyproceedings.  Were a substantial portionof the Fund’s capital tied up in a bankruptcy, MLAI might suspend or limittrading, perhaps causing the Fund to miss significant profit opportunities.There are increased risks in dealing with unregulated trading counterpartiesincluding the risk that assets may not benefit from the protection afforded to “customerfunds” deposited with regulated dealers and brokers.

 

14

----

 

Item 2.                                   Unregistered Salesof Equity Securities and Use of Proceeds

 

(a) Issuanceto accredited investors pursuant to Regulation D and Section 4(6) underthe Securities Act.  The selling agent ofthe following Class of Units was MLPF&S.

 
| CLASS A |
|--------------|

 
| ** ** | ** ** | **Subscription** | ** ** | ** ** | ** ** |
|------------|------------|------------------|------------|------------|------------|
| ** ** | ** ** | **Amount**       | ** ** | **Units**  | ** ** | **NAV (1)** | ** ** |
|       |       |             |       |       |       |   |   |
| Jan-08     |       | $                | 30,034     |       | 27,306     |   | $ | 1.0999 |   |
| Feb-08     |       | —           |       | —     |       | 1.0964 |   |
| Mar-08     |       | 223,796          |       | 193,478    |       | 1.1567 |   |
| Apr-08     |       | 165,199          |       | 142,021    |       | 1.1632 |   |
|            |            |                  |            |            |            |  |  |  |  |

 
| CLASS C |
|--------------|

 
| ** ** | ** ** | **Subscription** | ** ** | ** ** | ** ** |
|------------|------------|------------------|------------|------------|------------|
| ** ** | ** ** | **Amount**       | ** ** | **Units**  | ** ** | **NAV (1)** | ** ** |
|       |       |             |       |       |       |   |   |
| Jan-08     |       | $                | 287,996    |       | 271,438    |   | $ | 1.0610 |   |
| Feb-08     |       | 648,889          |       | 614,071    |       | 1.0567 |   |
| Mar-08     |       | 1,819,415        |       | 1,633,374  |       | 1.1139 |   |
| Apr-08     |       | 4,974,290        |       | 4,438,160  |       | 1.1208 |   |
|            |            |                  |            |            |            |  |  |  |  |

 
| CLASS D-SM |
|-----------------|

 
| ** ** | ** ** | **Subscription** | ** ** | ** ** | ** ** |
|------------|------------|------------------|------------|------------|------------|
| ** ** | ** ** | **Amount**       | ** ** | **Units**  | ** ** | **NAV (1)** | ** ** |
|       |       |             |       |       |       |   |   |
| Jan-08     |       | $                | 1,711,290  |       | 1,314,052  |   | $ | 1.3023 |   |
| Feb-08     |       | 2,146,082        |       | 1,651,086  |       | 1.2998 |   |
| Mar-08     |       | 3,874,691        |       | 2,822,062  |       | 1.3730 |   |
| Apr-08     |       | 9,518,352        |       | 6,836,914  |       | 1.3922 |   |
|            |            |                  |            |            |            |  |  |  |  |

 
| CLASS D |
|--------------|

 
| ** ** | ** ** | **Subscription** | ** ** | ** ** | ** ** |
|------------|------------|------------------|------------|------------|------------|
| ** ** | ** ** | **Amount**       | ** ** | **Units**  | ** ** | **NAV (1)** | ** ** |
|       |       |             |       |       |       |   |   |
| Jan-08     |       | $                | 750,000    |       | 801,796    |   | $ | 0.9354 |   |
| Feb-08     |       | —           |       | —     |       | 0.9336 |   |
| Mar-08     |       | 999,999          |       | 1,013,993  |       | 0.9862 |   |
| Apr-08     |       | 974,998          |       | 978,915    |       | 0.9960 |   |
|            |            |                  |            |            |            |  |  |  |  |

 
| CLASS I | ** ** | ** ** | ** ** |
|--------------|------------|------------|------------|

 
| ** ** | ** ** | **Subscription** | ** ** | ** ** | ** ** |
|------------|------------|------------------|------------|------------|------------|
| ** ** | ** ** | **Amount**       | ** ** | **Units**  | ** ** | **NAV (1)** | ** ** |
|       |       |             |       |       |       |   |   |
| Jan-08     |       | $                | 24,874     |       | 23,444     |   | $ | 1.0610 |   |
| Feb-08     |       | 50,000           |       | 47,263     |       | 1.0579 |   |
| Mar-08     |       | 52,606           |       | 47,117     |       | 1.1165 |   |
| Apr-08     |       | 39,579           |       | 34,949     |       | 1.1325 |   |
|            |            |                  |            |            |            |  |  |  |  |

 
| CLASS D-TF |
|-----------------|

 
| ** ** | ** ** | **Subscription** | ** ** | ** ** | ** ** |
|------------|------------|------------------|------------|------------|------------|
| ** ** | ** ** | **Amount**       | ** ** | **Units**  | ** ** | **NAV (1)** | ** ** |
|       |       |             |       |       |       |   |   |
| Jan-08     |       | $                | —     |       | —     |   | $ | 1.2900 |   |
| Feb-08     |       | 264,708          |       | 205,439    |       | 1.2885 |   |
| Mar-08     |       | 634,147          |       | 465,497    |       | 1.3623 |   |
| Apr-08     |       | —           |       | —     |       | 1.3854 |   |
|            |            |                  |            |            |            |  |  |  |  |

 

----

(1) NetAsset Value for all other purposes

 

(b)         None.

(c)          None.

 

Item 3.                                   Defaults Upon SeniorSecurities

 

None.

 

Item 4.                                   Submission ofMatters to a Vote of Security Holders

 

                          None.

 

15

----

 
| Item 5. | Other Information                                                                                                       |
|---------|-------------------------------------------------------------------------------------------------------------------------|
|    |                                                                                                                    |
|    | None.                                                                                                                   |
|    |                                                                                                                    |
| Item 6. | Exhibits                                                                                                                |
|    |                                                                                                                    |
|    | The following exhibits are incorporated by reference  or are filed herewith to this Quarterly Report on Form 10-Q: |
|    |                                                                                                                    |
|    | 31.01 and                                                                                                               |
|    | 31.02                                                                                                                   | Rule 13a-14(a)/15d-14(a) Certifications |
|    |                                                                                                                    |   |
|    | Exhibit 31.01                                                                                                      |   |
|    | and 31.02                                                                                                               | Are filed herewith. |
|    |                                                                                                                    |   |
|    | 32.01 and                                                                                                               |   |
|    | 32.02                                                                                                                   | Section 1350 Certifications |
|    |                                                                                                                    |   |
|    | Exhibit 32.01                                                                                                      |   |
|    | and 32.02                                                                                                               | Are filed herewith. |

 

16

----

 

**SIGNATURES**

 

 

Pursuant to therequirements of the Securities Exchange Act of 1934, the registrant has dulycaused this report to be signed on its behalf by the undersigned thereunto dulyauthorized.

 

 
|   | ML TRANSTREND DTP  ENHANCED FUTURESACCESS LLC |
|--------|-----------------------------------------------|
|   |                                          |
|   |                                          |   |   |
|   |                                          | By:  MERRILL LYNCH ALTERNATIVE |   |
|   |                                          | INVESTMENTS LLC |   |
|   |                                          | (Manager) |   |

 

 
| Date: May 14, 2008 |   | By     | /s/ PAUL MORTON                                 |
|-------------------------|--------|--------|-------------------------------------------------|
|                    |   |   | Paul Morton                                     |
|                    |   |   | Chief  Executive Officer, President and Manager |
|                    |   |   | (Principal  Executive Officer)                  |

 

 
| Date:  May 14, 2008 |   | By     | /s/  BARBRA E. KOCSIS                         |
|--------------------------|--------|--------|-----------------------------------------------|
|                     |   |   | Barbra  E. Kocsis                             |
|                     |   |   | Chief  Financial Officer                      |
|                     |   |   | (Principal  Financial and Accounting Officer) |

 

17

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