Film Futures: April 26 2010
The US Commodity Futures Trading Commission (CFTC) has approved two exchange proposals for the trading of futures contracts based on film box office revenues. However, the CFTC stopped short of allowing the exchanges to begin trading in light of objections from the film industry and moves in Congress to prohibit the business.
In April, the CFTC approved applications from Cantor Futures Exchange and Media Derivatives (MDex) for designation as contract markets, allowing them to establish exchanges for the trading of futures contracts. Before trading can begin, however, the CFTC will need to approve the contracts the exchanges wish to offer and that approval will not necessarily be given following pressure from the film industry and its supporters in the US Congress
Full article: http://www.risk.net/risk-magazine/news/1602831/cftc-approves-film-futures-despite-hollywood-protests
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