The CFTC approved the application of Media Derivatives, Inc. (MDEX) for designation as a contract market. The Commodity Exchange Act requires the Commission to approve such applications if the applicant meets criteria enumerated in the Act.
MDEX also has requested approval from the CFTC of a contract related to motion picture box office receipts. The Commission is still considering that issue. Moreover, given the novel nature of the contracts that MDEX has proposed trading, the CFTC has requested, and MDEX has agreed, that rather than self-certifying such contracts, MDEX must submit all new classes or categories of media-related contracts it lists for approval by the Commission. The Commission has not approved the trading of any futures or options related to box office receipts at this time.
Statement of Commissioners Scott D. O’Malia and Jill E. Sommers on Media Derivatives, Inc. Order of Designation as a Contract Market