DBOR Movie Futures are officially known as Domestic Box Office Receipt (DBOR) contracts. The information listed below summarizes the important elements of DBOR contracts. For complete details of the contract rules, see the official DBOR Contract Rules document.
Contracts are typically listed approximately six months (or less) before a film's expected release in theaters, assuming the film meets the listing standards of Cantor Exchange. Contracts typically start with an Initial Contract Offering (ICO) that consists of an opening auction on the first trading day. Bids and offers in connection with the opening auction for a DBOR contract will be allowed to be submitted between 9:00 AM and 3:00 PM Eastern Time on the first trading day for the contract. The opening auction for the contract will occur at 3:00 PM that day, at which point regular continuous trading begins.
1/1,000,000th of a film title's four week DBOR. A $1,000,000 change in revenues will cause a $1.00 change in the value of a contract.
24 hours daily, 7 days per week. Trading may be suspended for routine maintenance and any announced periods of non-routine maintenance.
1.00 point will equal $1 million of gross DBOR, such that a film title with four week gross DBOR of $250,000,000 will be quoted as 250.00.
The minimum increment of a DBOR contract quotation is 0.25, representing the equivalent of $250,000 of DBOR.
The Final Settlement Price is determined at 9:00 AM Eastern Time on the business day following the last trading day, at which time all open positions in DBOR contracts are marked to the final settlement price and closed out. Each contract will be listed for one, and only one, settlement date.
Gross box office receipts for the U.S. and Canada compiled by Rentrak Theatrical (which collects box office figures from North American theater locations as well as studio-reported data) and published in Daily Variety Magazine.
For each contract, the seller agrees to sell to the purchaser, and the purchaser agrees to purchase from the seller, a specified portion of an identified film title's DBOR. Each contract will be settled exclusively by cash settlement, paid in U.S. dollars. There is no physical aspect to settlement.