Two new movie futures exchanges are being created that would allow movie studios to hedge against a film’s box office performance, spreading the risk if the picture is a dud. Last week, 90 Hollywood executives watched a demonstration of The Cantor Exchange, formed by Cantor Fitzgerald of New York firm, which will launch next month. Guests bet on the performance of Alice in Wonderland. A rival, Trend Exchange of Indiana, was announced Wednesday. Both expect to win the approval of the Commodity Futures Trading Commission in the coming months. The goal is to create a safety net in the highly risky movie business, a way to hedge against the possibility than an expensive movie, like The Wolfman, will make no money. Critics say the markets would be vulnerable to manipulation, as many—screening attendees, marketers—would have inside information.