Summary Box: Regulators approve futures trading based on movie box office revenues
By APFriday, April 16, 2010
Summary Box: Regulators approve box office market
THE APPROVAL: U.S. regulators are allowing the creation of Trend Exchange, a market for trading on predicted box office receipts.
THE OPPOSITION: Hollywood studios have denounced it as “legalized gambling.” A coalition including the studios, directors and theater owners are backing legislation that would ban such trading.
NEXT STEPS: Regulators still need to review the kinds of contracts — essentially presales of a share of future box office receipts — that could be traded there. And it’s still deciding on a second market, for the Cantor Exchange.
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May 27, 2010: 2:42 am
No more synthetic trading. contact your senator demanding they intervene with cftc and kill contract trading for box office receipts. let your senator know you do not want to pick up the tab for another corrupt, manipulated market for profit. if these traders and exchange agree to pick up the tab for any corruption, that it will not fall on the taxpayer’s laps like the mortgage scam, then fine. |
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