General News

HSX to form basis for U.K. spread-betting service

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Aug 10, 2001 | 1:38pm EDT

The acquisition last May of the Hollywood Stock Exchange (HSX) by Britain's Cantor Fitzgerald & Co. has allowed the Web site, which previously encouraged visitors to use virtual money to buy and sell virtual stock in movies and stars, to function additionally as the database for Cantor Index, a U.K.-based spread-betting service, Wired magazine reported in its online edition Wednesday. Cantor plans to promote the Hollywood spread-betting utility with in-theater promotions in the U.K. shortly, the magazine said. (Spread betting is illegal in the U.S.) Lee Amaitis, president and CEO of Cantor Fitzgerald International, told Wired that the company also plans to start a futures market for movie production in the U.S. "I view [HSX] as a value research company for the entertainment world," Amaitis said. "We create the product that trades out of what they supply us. One hand feeds the other."

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