CX Futures Exchange, L.P. (also called CXMarkets, and Cantor Exchange) is a designated contract market offering financial products related to

forex The foreign exchange market (Forex, FX, or currency market) is a global decentralized or over-the-counter (OTC) market for the trading of currencies. This market determines foreign exchange rates for every currency. It includes all asp ...

and weather. It operates in conjunction with a sister company CX Clearinghouse as a subsidiary of

Cantor Fitzgerald Cantor Fitzgerald, L.P. is an American financial services firm that was founded in 1945. It specializes in institutional equity, fixed income sales and trading, and serving the middle market with investment banking services, prime brokerage, an ...

. Through various platforms under the CXMarkets umbrella, speculators and hedgers can make trades based on the exchange rate of currencies through

binary option A binary option is a financial exotic option in which the payoff is either some fixed monetary amount or nothing at all.Breeden, D. T., & Litzenberger, R. H. (1978). "Prices of state-contingent claims implicit in option prices". ''Journal of Busi ...

s, as well as predictions on weather, such as where tropical storms will make landfall, snowfall amounts, rainfall amounts, and high and low temperatures. As of the close of trading on March 29, 2019, the exchange discontinued listing of forex and gold binary options instruments until further notice.

History

In 2008,

financial services Financial services are the economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, insurance companies, accountancy companie ...

firm Cantor Fitzgerald filed for federal regulatory approval for a new commodities venue called the Cantor Exchange. The aim was to turn its

Hollywood Stock Exchange The Hollywood Stock Exchange, or HSX, is a web-based, multiplayer game in which players use simulated money to buy and sell "shares" of actors, film director, directors, upcoming films, and film-related options. The game uses Virtual Specialist tec ...

(HSX), a simulation game which had been operating for over a decade, into an actual money exchange which would allow individuals or institutions to buy and sell contracts based on motion picture

box office A box office or ticket office is a place where tickets are sold to the public for admission to an event. Patrons may perform the transaction at a countertop, through a hole in a wall or window, or at a wicket. By extension, the term is f ...

revenue. In February 2010, it was announced that CFTC approval was expected, and the following month the Cantor Exchange would officially begin trading futures contracts on domestic box office receipts. The exchange would allow every film to have a tradable "share" whose value would end based on the four-week opening box office revenue. Speculators and hedgers could buy or sell contracts in effort to profit or hedge against loss based on a film's financial performance. Before its debut, movie executives expressed concern the existence of such an exchange would create yet another facet to take into account when assessing projects.

References

Companies based in New York City Prediction markets Futures exchanges {{US-finance-company-stub