CXMarkets, formerly The Cantor Futures Exchange, is a U.S. regulated exchange offering products related to foreign exchange (Forex ), tropical storms, and other types of weather. CXMarkets offers digital, or binary, options on forex products including the EUR/USD, EUR/JPY, GBP/USD, GBP/JPY, USD/JPY, AUD/USD, and XAU/USD (gold). The digital options can be purchased with expiries of five minutes, 20 minutes, one hour, and end of day. The exchange is owned and operated by Cantor Fitzgerald.
The exchange started out as The Cantor Futures Exchange, L.P. or The Cantor Exchange. It was one of the first exchanges that planned to launch derivatives contracts based on motion pictures. In June of 2010, Cantor Fitzgerald won regulatory approval to trade in box-office futures but instead decided to end its effort because of a likely government ban on such trading.
The CFTC also approved the Cantor Clearinghouse, L.P. ("Cantor Clearinghouse"), a sister company of the Cantor Futures Exchange on Apr. 21, 2010 to settle all trades between buyers and sellers and to ensure the integrity of the marketplace.
Products and Services
The exchange had hoped to offer Domestic Box Office Receipt contracts, also known as Movie Box Office Contracts or DBOR Movie Futures. The exchange would let people bet, with a minimum of $50, against other participants on whether certain movies will do better or worse than expected. As of late April of 2010, Cantor was still awaiting CFTC approval on the contracts.
The Motion Picture Association of American (MPAA) vehemently opposed the idea of movie exchange, arguing that it would bring about insider trading as well as tarnish the reputation and integrity of the movie business.
- Howard W. Lutnick, Chairman and CEO
- Richard Jaycobs, President
- Andrew Weis, Compliance Director
- Nolan Glantz, Chief Operating Officer
- Melanie Gordon-Felsman, Vice President, Marketing and Communications
- James (Les) Walker, Chief Technology Officer
- Alex Costakis, Market Director and DBOR Specialist
- Cantor Futures Exchange (CXMarkets). Investopedia.
- Cantor Fitzgerald abandons plan to trade box-office futures contracts. Los Angeles Times.
- Product Profile: Movie Futures. Futures Industry Magazine.
- CFTC Approves Cantor Futures Exchange, L.P. and Cantor Clearinghouse, L.P.. CFTC Website.
- Some investors put money into movies. USA Today.
- Press Release. CFTC.
- Movie Trade Group Objects to Futures Exchange. Wall Street Journal.