New York: Traders will soon be able to place possibly the surest bet around: the next James Cameron film.
Cantor Fitzgerald said on Monday it expects to launch an electronic futures exchange soon that would allow investors to bet on box office returns for movies.
The closely held broker dealer expects films, to attract anyone from a producer or studio, to a hedge fund, to an individual film buff. "People love movies, and this is a way for them to profit from what they know," said Melanie Gordon-Felsman, a Cantor spokeswoman.
"Let's say you love Avatar, and you loved Titanic, and [director] James Cameron's coming out with his next movie — so you want to get in the game."
The contracts are valued at one-millionth of a share of the film's expected box office in the first four weeks playing, Gordon-Felsman said.
