 | This article is an autobiography or has been extensively edited by the subject or by someone connected to the subject. (December 2011) |
Richard L. Sandor | |
|---|---|
 | |
| Nationality | American |
| Academic career | |
| Field | Finance, Environmental Finance |
| Alma mater | Brooklyn College (BA) University of Minnesota (PhD) |
| Doctoral advisor | Jacob Schmookler |
| Influences | Ronald Coase |
| Contributions | Founder, Chairman & CEO of American Financial Exchange (AFX), Founder of Chicago Climate Exchange (CCX) |
| Awards | Doctor of science, honoris causa, Swiss Federal Institute of Technology (ETH) |
Richard L. Sandor is an American businessman, economist, and entrepreneur. He is chairman and CEO of the American Financial Exchange (AFX) established in 2015, which is an electronic exchange for direct interbank/financial institution lending and borrowing. The AFX flagship product, the AMERIBOR benchmark index, reflects the actual borrowing costs of thousands of regional and community banks across the U.S. and is one of the short-term borrowing rates, along with the Secured Overnight Financing Rate, vying to replace U.S. dollar Libor as a benchmark in the U.S.[1]
Sandor is chairman and CEO 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"[2] 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).[3]
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.[4] 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.[5] Among Sandor's academic roles, he is currently the Aaron Director Lecturer in Law and Economics at the University of Chicago Law School[6] and an honorary Professor at the University of Hong Kong and the School of Economics at Fudan University. He formerly taught at graduate and undergraduate levels at several universities throughout California, Illinois, New York, China and England.
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.[7][8]
Sandor is known for asserting that the next financial revolution will be in the convergence of the financial markets and the environment.[9] He is often credited for founding the field of environmental Finance. His first book Good Derivatives: A Story of Financial and Environmental Innovation,[10] was published by John Wiley & Sons in April 2012.
- ^ "PRIMER: Ameribor and its role in the Libor transition". International Financial Law Review. 25 August 2020. Retrieved 7 April 2021.
- ^ Resolution signed by William F. O'Connor (Chairman of the Board). Board of Trade of the City of Chicago. July 21, 1992
- ^ Speaker: Richard Sandor. Financial Times World Energy Council Energy Leaders Summit. October 2009. Retrieved November 2011.
- ^ Leila Abboud. Economist Strike Gold in Climate-Change Fight. The Wall Street Journal. March 13, 2008. Retrieved November 2011.
- ^ James Cameron. Heroes of the Environment: Richard Sandor. Time Magazine. October 17, 2007. Accessed November 2011.
- ^ Richard Sandor (6 October 2010). "The University of Chicago – The Law School". Law.uchicago.edu. Retrieved 1 February 2014.
- ^ "Coase-Sandor Institute for Law and Economics | University of Chicago Law School". Law.uchicago.edu. Retrieved 1 February 2014.
- ^ "Sandors' Leadership Gift Names Coase-Sandor Institute in Honor of Mentor | University of Chicago Law School". Law.uchicago.edu. 7 February 2013. Archived from the original on 18 March 2013. Retrieved 1 February 2014.
- ^ "December'99: The World According to Richard Sandor". Derivatives Strategy. Archived from the original on 25 April 2012. Retrieved 1 February 2014.
- ^ Sandor, Richard L. (3 April 2012). Good Derivatives: A Story of Financial and Environmental Innovation: Richard L Sandor, Ronald Coase: 9780470949733: Amazon.com: Books. John Wiley & Sons. ISBN 978-0470949733.