Hedge Tracker – The chance to turn your virtual cash into the real thing on the Hollywood Stock Exchange is set to begin at the end of June. The futures market regulator, the CFTC, is moving forward on approving trading futures contracts on box office results. Now Hollywood and Wall Street are anxiously waiting to see if Congress will bless it.
But one of the exchanges’ founders says there are important conflicts of interest that haven’t been investigated. Max Keiser, journalist for Russia Today TV, showed his viewers video tape of his former partner in the HSX/Cantor Exchange, Michael Burns, Vice Chairman of film studio Lionsgate (NYSE: LGF), bragging about trading on inside information on HSX, a virtual exchange they both created in the mid 90’s.
