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The Commodities Futures Trading Commission today approved an application to establish the Trend Exchange, a futures market for movie box office receipts that'll be operated out of Chicago. At this point, however, it's a market without products: the CFTC has until June 7 to say yeah or nay to TrendEx's proposals for its first two offerings: options and futures contracts on opening weekend box office sales. As I reported earlier this month, New York brokerage Cantor Fitzgerald has also applied for its own movie futures market, the Cantor Exchange; a decision on that is still pending. The Motion Picture Association of America and other film industry groups have opposed the exchanges.