DR. RICHARD SANDOR, THE “FATHER” OF FINANCIAL FUTURES & CARBON TRADING DISCUSSES HIS “BEST IDEA YET”
NEW THIS WEEK: Financial innovator Dr. Richard Sandor is known as the “father” of financial futures and carbon trading. He discusses the unheralded and significant environmental progress being made on the local level in the U.S., plus his latest innovation, an alternative to LIBOR, the troubled global interest rate benchmark. It’s the American Financial Exchange, an electronic exchange for direct interbank and financial institution lending and borrowing. It’s up and running and he considers it his “best idea yet.”
WEALTHTRACK Episode #1524; Originally Published on November 30, 2018
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Click Here to Translate the Acronyms
- LIBOR: the London Interbank Offered Rate
- U.S. AMERIBOR: a benchmark rate that reflects the actual market-determined cost of borrowing for U.S. financial institutions
- Federal Reserve’s SOFR (Secured Overnight Financing Rate): a broad measure of the cost of borrowing cash overnight collateralized by Treasury securities
- SIFI: Systemically Important Financial Institution
- INTERCONTINENTAL EXCHANGE INC. (ICE): an American company that builds, operates and advances global financial and commodity markets
- CHICAGO CLIMATE EXCHANGE (CCX): founded by Richard Sandor in 2003 as a voluntary greenhouse gas (GHG) emission cap and trade scheme located in North America, and acquired by Intercontinental Exchange in 2010
- EUROPEAN CLIMATE EXCHANGE (ECX): the leading marketplace for trading carbon dioxide emissions in Europe and internationally
- TIANJIN CLIMATE EXCHANGE CO, LTD: China’s first carbon market cap-and-trade exchange
- RGGI. Inc. (Regional Greenhouse Gas Initiative): the first mandatory market-based program in the United States to reduce greenhouse gas emissions
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