The CFTC plans to hold a public hearing next week to examine the growing controversy surrounding a plan by two firms to offer futures contracts tied to box-office receipts.
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Tag Archives: House Committee Agriculture
What the Cantor Exchange (HSX) and the Media Derivatives Exchange (MDEX) really said to the US Congress about movie futures (a.k.a. box-office derivatives) – [VIDEO]
House Committee Agriculture @ US House Of Representatives:
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–-> Prof Schuyler Moore mentions InTrade 1:35 into.
Cantor Exchange and Trend Exchange defend the usefulness of movie hedging.
Lions Gate vice chairman Michael Burns said the markets “would allow a diverse group of motion picture industry participants, including studios, film distributors, theater owners, investors and other financial intermediaries within the motion picture industry to manage their risk and exposure to new film releases.”-
“We believe a market in domestic box office receipts would substantially widen the number and breadth of financing sources available to the motion picture industry by lowering the risk inherent in such financing,” Burns wrote.
Robin Hanson is in favor of movie business futures.
ADDENDUM:
– Jason Ruspini sends us the link of the Senate bill.