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The head of a new exchange fighting to keep Congress from halting his plans to list movie futures is offering an advisory board seat to the head of the Hollywood opposition.
Robert Swagger, chief executive of the Trend Exchange, discussed the idea in Washington this week when he met with the lawmakers negotiating a final financial regulatory bill. Get the full story »
By Greg Burns | Faced with objections from heavy-hitters in the motion-picture industry,
the Commodity Futures Trading Commission on Friday approved
contract-market designation for Media Derivatives, Inc., a startup
exchange seeking to trade movie box-office receipts.
But it stopped short of giving an O.K. for the trading of the
organization’s planned futures and options on the movie biz.
By Greg Burns | Two competing ventures seeking regulatory approval for movie futures have run into opposition from Congress likely to delay a decision from the Commodity Futures Trading Commission.
The idea of trading contracts on the box-office receipts of major motion pictures has languished for months before regulators.
