The Commodity Futures Trading Commission has approved a second futures exchange within a week, giving the go-ahead to a new class of derivatives.
The Commission approved a proposal by Cantor Fitzgerald subsidiary Cantor Exchange that will allow individuals to trade on a film’s projected opening weekend box office.
Last Thursday commissioners approved a similar proposal by Media Derivatives, although that version will establish a futures market for institutionalised investors.
“We appreciate the excellent work of the CFTC and look forward to continuing to work with them as they oversee our exchange and review our domestic box office receipts contracts for approval,” Cantor Exchange president Richard Jaycobs said.
The first product that Cantor Exchange intends to offer will be Domestic Box Office Receipt contracts, also known as Movie Box Office Contracts or DBOR Movie Futures.