Hollywood Stock Exchange

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Hollywood Stock Exchange
Hollywood Exchange.gif
Founded 1996
Website www.hsx.com

The Hollywood Stock Exchange (HSX) began as an online fantasy market established in 1996 and owned by Cantor Fitzgerald since 2001. HSX allows users to simulate an investment in movies, actors and studios. The trading is limited to "Hollywood dollars" that have no real world value. Nevertheless, it attracted a following among thousands of players, and its fantasy trading activity was often remarkably accurate in predicting actual ticket sales.[1]

Cantor Fitgzerald planned to launch the exchange with a new name, The Cantor Exchange, as a real, federally regulated market that would trade futures on Domestic Box Office Receipt contracts, also known as Movie Box Office Contracts or DBOR Movie Futures. [2] However, Cantor abandoned that launch after receiving regulatory approval, because lobbyists had succeeded in persuading lawmakers to write a ban on such futures into FinReg legislation.[3]

History

In November of 2008, the Hollywood Stock Exchange applied for Exchange-status with the CFTC. [4]

The Hollywood Stock Exchange was founded in April of 1996 by Max Keiser and Michael Burns.[5]

References

  1. Product Profile: Movie Futures. Futures Industry Magazine.
  2. Hollywood Stock Exchange is Becoming a Real Money Exchange In April. Seriously.. Washington Post.
  3. Cantor cuts. New York Post.
  4. Cantor Desginated Contract Market Letter. Commodity Futures Trading Commision.
  5. History of HSX. HSX.com.