|
Richard L. Sandor is an American businessman, economist, and entrepreneur. Sandor is Chairman and Chief Executive Officer of Environmental Financial Products LLC, which specializes in inventing, designing and developing new financial markets with a special emphasis on investment advisory services. He is widely recognized as the “father of financial futures”〔Resolution signed by William F. O'Connor (Chairman of the Board). Board of Trade of the City of Chicago. July 21, 1992〕 for his pioneering work in developing the first interest rate futures contract in the 1970s, when he served as chief economist and vice president of the Chicago Board of Trade (CBOT).〔Speaker: Richard Sandor. (Financial Times World Energy Council Energy Leaders Summit ). October 2009. Retrieved November 2011.〕 Sandor is also the founder of the Chicago Climate Exchange (CCX) – the world’s first exchange to facilitate the reduction and trading of all six greenhouse gases.〔Leila Abboud. (Economist Strike Gold in Climate-Change Fight ). The Wall Street Journal. March 13, 2008. Retrieved November 2011.〕 In 2007, he was named the “father of carbon trading” by ''Time Magazine'' for his work in designing, developing and launching CCX and affiliated exchanges.〔James Cameron. (Heroes of the Environment: Richard Sandor ). Time Magazine. October 17, 2007. Accessed November 2011.〕 He is currently a Lecturer at the University of Chicago Law School and a Distinguished Professor of environmental finance at the Guanghua School of Management at Peking University.〔(Dr. Richard L. Sandor Appointed Distinguished Adjunct Professor of environmental finance at Guanghua School of Management at Peking University ), Guanghua School of Management, November 05 2010.〕 On February 7, 2013, the University of Chicago Law School announced that Sandor and his wife Ellen R. Sandor are the principal donors to a $10 million endowment in law and economics at the University of Chicago Law School. The Sandors made the gift in honor of Sandor’s mentor, Nobel Laureate Ronald Coase, Clifton R. Musser Professor Emeritus of Economics at the Law School. In their honor, the Institute for Law and Economics has been renamed the Coase-Sandor Institute for Law and Economics. Sandor is known for asserting that the next financial revolution will be in the convergence of the financial markets and the environment. He is often credited for founding the field of environmental Finance. His first book, “Good Derivatives: A Story of Financial and Environmental Innovation”, was published by John Wiley & Sons in April 2012. ==The Father of Financial Futures== As a professor on sabbatical from the University of California, Berkeley, in the 1970s, Sandor became the chief economist and vice president of the Chicago Board of Trade (CBOT).〔http://www.ers.usda.gov/ConferenceCenter/CarbonWorkshop/bios.htm〕 At the CBOT, Sandor not only pioneered the first interest rate futures contract,〔Peter Norman, The Risk Controllers: Central Counterpart Clearing in Globalised Financial Markets. West Sussex, United Kingdom: John Wiley & Sons Ltd. 2011. p.121〕 but the most widely traded and imitated interest-rate futures in the world, the Treasury bond futures contract. This revolutionized the field of finance and earned him the title of “father of financial futures.” Sandor originally coined the term “derivatives”〔My Word is My Bond: voices From Inside The Chicago Board of Trade, Arlene Michlin Bronstein. Hoboken, New Jersey: John Wiley & Sons, Inc. 2008. p.313〕 to describe the futures and options contracts that were traded on the Chicago exchanges. Its definition was subsequently expanded to include not only regulated products on futures transactions, but any customized product traded off the exchange, i.e. bilateral OTC transactions. Sandor was honored by the CBOT and the City of Chicago in 1992 for the creation of financial futures. Sandor was also a strong proponent of electronic trading at a time when most exchanges favored open-outcry. In fact, he had presented the case and designed the platform for electronic trading as early as 1970 – even before the concept of electronic trading was patented.〔Paul E. Schaafsma of Foley & Lardner LLP. (The Next Patent Frontier- Financial Product Patents ). FindLaw: For Legal Professionals. February 18, 2003. Retrieved November 2011.〕 At Berkeley, he was the project leader of the California Commodity Research Project (CCARP), which looked at the feasibility of establishing a for-profit, all-electronic exchange in at the time when none existed.〔Phillipa Leighton Jones. (Sandor Paper Could Aid Defense ). eFinancial News. November 4, 2002. Retrieved November 2011.〕 At the CBOT, Sandor championed innovative financial instruments such as event-linked derivatives. Sandor served as Vice Chairman of the CBOT Insurance Committee and was the originator and co-author of the catastrophe and crop insurance futures and options contracts.〔Daniel P. Collins. (Richard Sandor: Inventing Markets out of Thick Air ). allBusiness. October 1, 2007. Retrieved November 2011.〕 From 1991 to 1994, Sandor was Chairman of the Chicago Board of Trade Clean Air Committee,〔Michael Himick Ed. Securitized Risk Strategic Opportunities for Insurers and Investors. The Glenlake Publishing Company, Ltd. 1998. p. xi〕 which developed the first spot and futures markets for sulfur dioxide (SO2) emission allowances and supervised the annual allowance auctions conducted on behalf of the U.S. Environmental Protection Agency.〔Taylor, Jeffrey, and Rose Gutfeld. "CBOT Selected to Run Auction for Polluters." Wall Street Journal. September 25, 1992, p. C1〕 He also led the effort to create the Dow Jones Sustainability Index (DJSI) – the first global index that tracks the financial performance of leading sustainability-driven companies worldwide.〔“The DJSI—a story of financial innovation.” How I See It. Environmental Finance. Dec 2001–Jan 2002〕 Sandor has held a variety of senior executive positions in financial service companies, such as Drexel Burnham Lambert, Kidder Peabody and Banque Indosuez.〔(The World According to Richard Sandor ). DerivativesStrategy.com. December 1999. Retrieved November 2011.〕 Sandor has served on numerous Exchange committees and boards, including the Chicago Board of Trade (CBOT), the Chicago Mercantile Exchange (CME), IntercontinentalExchange (ICE), London International Financial Futures Exchanges (Liffe) and the International Advisory Board of Marché à Terme International de France (MATIF).〔(NABE Washington Economic Policy Conference 2005 Session 22 – The Role of Climate Exchange in Efficient Pollution Reduction (Speakers) ). March 21, 2005. Retrieved November 2011.〕 Sandor played an advisory role in helping Swiss Options and Financial Futures Exchange (SOFFEX) become the world’s first electronic exchange.〔Richard L. Sandor. Good Derivatives: A Story of Financial and Environmental Innovation. Hoboken, New Jersey: John Wiley & Sons Inc. 2011. Chapter 14〕 Teaming up with Boston-based Battery Ventures, Sandor also helped to promote Liffe’s electronic trading platform〔Leah McGrath Goodman. Blackstone's Battery Mates, Dealmaker. March/April 2007. http://www.battery.com/news/Battery_Dealmaker.pdf〕 and is credited for Liffe’s successful contract – the universal stock futures contract.〔Patrick L. Young and Charles Sidey, Single Stock Futures – A Trader's Guide, West Sussex: John Wiley & Sons Ltd. 2003. p. xiv〕 He also assisted the New York Mercantile Exchange (NYMEX) on the design of the options contract for crude oil.〔The Volatility Exchange http://volx.us/sandor.htm〕 Sandor has served several times as an advisor to the Commodity Futures Trading Commission (CFTC) on matters related to financial, energy and environmental futures.〔(CFTC Names Members of the Energy Markets Advisory Committee ). CFTC Press Release: PR5496-08. May 02, 2008. Accessed November 2011.〕 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Richard L. Sandor」の詳細全文を読む スポンサード リンク
|