HOLLYWOOD STOCK EXCHANGE
THE ENTERTAINMENT MARKET
THE ENTERTAINMENT MARKET
HSX Announces CX Derivates - a new trading opportunity
Later today we will be releasing a new set of Hollywood Derivatives called CX Derivatives. These Derivatives will function differently from other Derivatives on HSX.com.
CX stands for "Cantor Exchange" – a new real-money futures market for trading Movie Box Office Contracts or “movie futures”. Once approved by the Commodity Futures Trading Commission (CFTC), this new market will enable traders to profit from their knowledge of movies and box office performance. As we prepare for the real money market, would like to offer a similar trading experience here on HSX. The CX derivatives we are introducing today are a subset of the same set of films currently available for practice trading on the Cantor Exchange Practice Trading site.
Trading CX Derivatives will be similar in many ways to the trading that you do on HSX, however to create greater alignment between HSX and Cantor Exchange, we’ve implemented the following game-play changes, most notably:
Trading is not halted during opening weekend, and there is no adjust.
There will be no price freeze during the first day of trading.
There will be no commission-free trading period.
But in many other ways this new class will behave similarly to MovieStocks and other derivatives. The value of each CX Derivative reflects how much money a Trader thinks the film will make at the Box Office with each $1million earned domestically equal to H$1. CX Derivatives will be cashed out or “settled” and removed from the Exchange four weeks after they have been in wide release, or twelve weeks of limited release.
There are a whole host of reasons why we are introducing this product, but to sum it up simply: we are trying something new. We know that many traders have built substantial portfolio value over the years and many of you have earned your millions or billions of H$ by learning the unique game-play aspects of HSX. These changes may require that you alter your time tested trading strategies and they may make the HSX market a bit more competitive that in the past. Try out this new trading experience and let us know your impressions on the Support & Feedback forums.
The HSX Team