US to introduce box-office futures market

A futures market designed to allow trading on box-office takings has been approved by regulators in the United States, but its creation has been slammed by Hollywood.

The US Commodity Futures Trading Commission approved the Trend Exchange last week, which would allow participants in the industry and speculators to trade on money made from movie releases.

However, a ban on the market has been supported by the Motion Pictures Association of America, the National Association of Theatre owners, the Directors Guild of America and the Independent Film & Television Alliance.

But Veriana Ventures, the group behind the proposed market, has said it will continue pushing for the creation of the Trend Exchange saying smaller studios will gain large benefits.

“How can an exchange that helps create liquidity be criticised when it really helps bring new dollars to an already struggling economic situation?” Veriana chief executive Rob Swagger said on a conference call with reporters.

COMMENTS

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments
Close
SmartCompany Plus

Sign in

To connect a sign in method the email must match the one on your SmartCompany Plus account.
Or use your email
Show
Forgot your password?

Want some assistance?

Contact us on: support@smartcompany.com.au or call the hotline: +61 (03) 8623 9900.