{"id":8357,"date":"2010-04-29T20:08:05","date_gmt":"2010-04-29T19:08:05","guid":{"rendered":"http:\/\/www.filmdetail.com\/?p=8357"},"modified":"2010-04-29T20:08:05","modified_gmt":"2010-04-29T19:08:05","slug":"regulators-approve-movie-futures-market","status":"publish","type":"post","link":"https:\/\/www.filmdetail.com\/2010\/04\/29\/regulators-approve-movie-futures-market\/","title":{"rendered":"Regulators approve movie futures market"},"content":{"rendered":"

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Yesterday U.S. regulators gave the go ahead for Cantor Futures Exchange<\/a>, a market that will give speculators a way to bet on expected movie box office receipts.<\/p>\n

The major Hollywood studios and cinema chains are staunchly opposed to the trading of movie futures contracts<\/a>, calling it a form of legalized gambling.<\/p>\n

The Motion Picture Association of America<\/a> has said that they are:<\/p>\n

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“…united in our opposition to a risky online-wagering service that would be detrimental to the motion picture industry”.<\/p>\n<\/blockquote>\n

I think they have a point.<\/p>\n

Given the amount of people in the industry with access to sensitive information about various projects isn’t there a huge risk of insider trading?<\/p>\n

Although studios have apparently already tightened up<\/a> how tracking numbers (the data that essentially predicts how much a film is going to earn) are released, information will always find a way to get out.<\/p>\n

There is a certain irony that this was approved just days after President Obama finally decided to clamp down<\/a> on the casino-style capitalism of Wall Street banks that almost caused the global financial system to collapse.<\/p>\n

Isn’t there a lesson to be learned from the Goldman Sachs story currently unfolding<\/a>?<\/p>\n

Senator Blanche Lincoln<\/a> (D-Ark.) has included a ban on movie futures trading in the financial reform bill that is set to be debated in a committee today (Wednesday).<\/p>\n

Cantor Fitzgerald<\/a>, the backer of the futures market, said in a statement it appreciated the “excellent work” of the commission, with a final decision expected in June.<\/p>\n

My prediction? A major scandal, which is then swiftly adapted into a movie.<\/p>\n

After all, this wouldn’t be the first time Hollywood has made a tale about the perils of insider-trading<\/a>.<\/p>\n

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Yesterday U.S. regulators gave the go ahead for Cantor Futures Exchange, a market that will give speculators a way to bet on expected movie box office receipts.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"_links":{"self":[{"href":"https:\/\/www.filmdetail.com\/wp-json\/wp\/v2\/posts\/8357"}],"collection":[{"href":"https:\/\/www.filmdetail.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.filmdetail.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.filmdetail.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.filmdetail.com\/wp-json\/wp\/v2\/comments?post=8357"}],"version-history":[{"count":0,"href":"https:\/\/www.filmdetail.com\/wp-json\/wp\/v2\/posts\/8357\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.filmdetail.com\/wp-json\/wp\/v2\/media?parent=8357"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.filmdetail.com\/wp-json\/wp\/v2\/categories?post=8357"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.filmdetail.com\/wp-json\/wp\/v2\/tags?post=8357"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}