The concept lacked support from key members of the Hollywood community

Congress Squashes Box Office Trading

on June 25, 2010
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Source: THR

Just before 1 a.m. ET on Friday night, Congress approved an amendment banning the trading of derivatives based on boxoffice results.

The MPAA, NATO and various guilds have been actively campaigningy against the idea.

Media Derivatives, Inc. received approval from the Commodities Futures Trading Commission on June 15, and a decision for the Cantor Exchange was expected on June 28. But the latest move by Washington will force both companies into court if they want to challenge the ruling.

Tags: Cantor Exchange, Media Derivatives
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