Well.....it's more like "Hollywood Futures Trading Exchange" but you get the idea. I remember the HSX back in the mid-90s and futzed around with it during lunch hours to waste time on the fledgling Intarweb. That said, I'm not sure how this will go over with the "average" or "novice" investor, though......I sure wouldn't start any newbie with a FUTURES contract as a way of getting them exposure to the trading markets. Speaking of newbies in the markets, what ever happened to the AMEX FROs that were geared to newbies? Did they ever take off? 08 December 2008 - 14:31 Cantor speculates on box office entertainment http://www.finextra.com/fullstory.asp?id=19405 Cantor Fitzgerald has filed an application with regulators to launch an exchange that will allow users to hedge and speculate on the financial performance of movies. Cantor says that subject to approval from the Commodity Futures Trading Commission (CFTC), its exchange's first traded product will be "Domestic Box Office Receipt" contracts. The contracts - expected to be listed in the first quarter of 2009 - will offer film finance professionals and traders an opportunity to hedge and speculate on the ticket sales of major film titles. Howard Lutnick, chairman and CEO, Cantor Fitzgerald, says: "The Cantor Exchange and our intention to list Domestic Box Office Receipt contracts reflect our continuing commitment to innovation in the finance and entertainment sectors." Cantor Fitzgerald already owns and operates the Hollywood Stock Exchange virtual entertainment stock market. Separately, WeSeed, a new online community Web site for stock market investors dubbed "Facebook-meets-Amazon", has been launched in the US. The site lets users get information and ideas on buying stocks through a propriety search tool as well as from "celebrity experts" and fellow members. In addition, users can practice investing in a virtual environment. Jennifer Openshaw, president and co-founder, WeSeed, says: "By leveraging the power of community, the 100 million Americans who don't currently invest can learn the basic fundamentals of stock investing and become smarter, more confident, better informed and even more competitive in their jobs."
This isn't going to work. Unlike commodities, there's not much you can analyze to see which movies are going to be successful.
Incorrect. Start reading http://boxofficeguru.com/ He usually gets it right and he has plenty of data to go on....
Remember "Little Nicky"? It was supposed to be a blockbuster, but the week after it was released Time Warner (I think?) had to cut estimates for the quarter due to the movie bombing at the box office (budget was $80 million, movie grossed less than $40 million). BTW- I walked out of Little Nicky 30 minutes into the movie. Worst piece of garbage I ever witnessed----until I saw "Alexander".