A leading figure behind the creation of futures markets is joining the race to replace the benchmark interest-rate underpinning trillions of dollars worth of financial contracts
A leading figure behind the creation of futures markets in the 1970s is joining the race to replace the benchmark interest-rate underpinning trillions of dollars worth of financial contracts world-wide.
Richard Sandor, who was instrumental in creating interest-rate futures in the 1970s and greenhouse-gas emissions trading in the 1990s, has launched his own version of the scandal-tainted London interbank offered rate, or Libor. His benchmark, known as Ameribor, would be based on rates set on his American Financial Exchange,...
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