Richard Sandor talk at the LSE, June 7th

May 27, 2012

Dr Richard Sandor will be presenting his
lecture Good Derivatives: A Story of Financial
and Environmental Innovation at the London
School of Economics and Political Science on
Thursday, June 7th 2012 at 6.30 pm
Venue: London School of Economics, Wolfson
Theatre LG.01, New Academic Building, 54
Lincoln’s Inn Field, London WC2A 3LJ
Hosted by the Grantham Research Institute and
Department of Management at LSE and CMIA

Dr. Richard Sandor will give a first-hand account of his experiences as an inventor of new markets in interest rates, air and water. As a young economist at the Chicago Board of Trade he helped create interest rate futures, a development that revolutionized worldwide finance. Later, he pioneered the use of emissions trading to reduce acid rain in the U.S., one of the most successful environmental programs ever, and greenhouse gases.
Sandor provides unique insights into the process of creating these new financial products. Covering his successes and failures, including an attempt to start an all-electronic exchange in the late sixties, his talk will cover the efforts to build support for these new inventions in places like Chicago, New York, Paris and how their impact is unfolding today in Mumbai,
Shanghai and Beijing.
In his journey of capital and environmental innovation, Dr. Sandor has also been closely involved in important developments for London as an international financial centre. He was actively involved in the design, establishment and ascendency of LIFFE in the 1980s. Twenty years later, he would again play a decisive role in London financial markets when
LIFFE became electronic and demutualized.
The talk will also cover events leading up to the creation of the Chicago Climate Exchange and its affiliated exchanges (European Climate Exchange, Chicago Climate Futures Exchange and Tianjin Climate Exchange, in China). The European Climate Exchange quickly became the benchmark exchange for carbon prices and transformed London into the world
center of carbon finance. The lessons learned in the creation of these markets can play a critical role in effectively addressing global climate change and other pressing environmental issues.
We would be delighted if you could join us for an evening covering the last forty years in finance and the next forty years to come. Signed copies of Dr Sandor’s latest book; Good Derivatives: A Story of Financial and Environmental Innovation, will be available for purchase after the lecture and further details of the book can be found at


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