Federal regulators approved the creation of another commodities exchange hoping to trade in film futures.
The Commodity Futures Trading Commission has not yet given the greenlight to the Cantor Exchange’s actual contracts to be traded. That decision is still pending.
Their decision is not much of a surprise.
On Friday, the commission approved the creation of the Trend Exchange, which also plans to trade in film futures, but, like Cantor, has yet to rule on the actual products. Some commissioners expressed concerns that the nature of the film business could subject such exchanges to manipulation or conflict of interest.
The creation of both exchanges is opposed by the Motion Picture Assn. of America and other industry groups.