New York
– Financial services firm Cantor Fitzgerald plans to launch a service next
month that will allow consumers, industry insiders and institutional investors
alike trade on futures based on motion picture box office receipts. The
Domestic Box Office Receipt (DBOR) Movie Futures will see $1 equal to $1
million in box office receipts, and allow trading of futures around six months
before a film’s theatrical release.
The New York Times reports that customers
will be able to begin depositing money into their accounts on March 15, while the
exchange is expected to open after April 20, once it gains final approval from
the Commodity Futures Trading Commission.
Rentrak will be the provider of data
on box office receipts for the exchange.
Cantor acquired the URL of a similar
exchange, the Hollywood Stock Exchange (HSX.com), in 2001.
Cantor Exchange
president Richard Jaycobs told The Times he hopes many of the 200,000 active
users on HSX.com will opt to place real-money bets on the new exchange.
The
Times also reported that Veriana Networks plans to launch a competing exchange
called Trend Exchange out of Chicago, but will only cater to professional and
institutional investors.
Related Links:
http://snipurl.com/us0cq
(PDF: Cantor announcement)
http://www.nytimes.com/2010/03/11/business/media/11futures.html
SO, another thing to measure the buzz and financial success of a movie.
It is a good news for the investors and the consumers to invest in Domestic Box Office Receipt. It will help the film industry and mobilize the funds for its growth and development. It is an excellent idea. Thanks for the post.
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I didn’t like the idea. It may be good for the film producers that their future is not at risk. For the common people who have to use their knowledge & skill to earn for their future. Their work not only pays to them but it pays to the society as a whole. But this tendency of betting money with the hope of getting big some in future makes them dreamers instead of becoming actors.
Very interesting. Aspirant film makers now had a chance to showcase their piece through hsx.com. Can’t wait for my submitted work to be pick though. I’m really excited.