As expected, the Commodity Futures Trading Commission approved Cantor Fitzgerald’s acquisition to offer movie contracts on box office office performance. Cantor wanted to begin the program with The Expendables, the Sylvester Stallone-directed action film that opens August 13. Given that the future looks dismal for the Cantor Fitzgerald program and a rival service by Media Derivatives (which got CFTC approval. first), Cantor Fitzgerald has told the LA Times it won’t go forward because of the ban on the programs that was approved by Congress and is part of financial reform legislation that’s expected to be signed into law. The bill’s retroactive so there’s no chance of squeezing in on a grandfathering technicality. The only chance is getting the courts to overturn it, something Media Derivatives is considering. Both have said they were crushed by the MPAA’s lobbying might.
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