Richard L. Sandor

Aaron Director Lecturer in Law and Economics

Richard L. Sandor (Ph.D.) is Chairman and CEO of the American Financial Exchange, an electronic marketplace for small and mid-sized banks to lend and borrow short-term funds. He is also the CEO of Environmental Financial Products, which specializes in inventing, designing and developing new financial markets. EFP was established in 1998 and was the predecessor company and incubator to the Chicago Climate Exchange (CCX), the European Climate Exchange (ECX), the Chicago Climate Futures Exchange (CCFE) and the Tianjin Climate Exchange (TCX). Dr. Sandor is currently the Aaron Director Lecturer in Law and Economics at the University of Chicago Law School, a Visiting Fellow with the Smith School of Enterprise and the Environment at Oxford University and an Honorary Professor at Hong Kong University. He was honored by the City of Chicago for his universal recognition as the “father of financial futures”. In 2002 he was named by TIME Magazine a “Hero of the Planet”; and in 2007 as one of the magazine’s “Heroes of the Environment” for his work as the “Father of Carbon Trading.” In October 2013, Dr. Sandor was awarded the title of Chevalier dans l´ordre de la Légion d´Honneur (Knight in the French National Order of the Legion of Honor), for his accomplishments in the field of environmental finance and carbon trading. He holds an honorary degree of Doctor of Science, honoris causa, from the Swiss Federal Institute of Technology (ETH). Dr. Sandor is a Member of the Advisory Board of the Center for Financial Stability, a Senior Fellow of the Milken Institute and a Member of the Advisory Committee of the Ronald Coase Centre for Property Rights Research at Hong Kong University. He served on the board of directors of leading commodity and futures exchanges in the United States and Europe. Dr. Sandor is the author of “Good Derivatives: A Story of Financial and Environmental Innovation”; and the lead author of “Sustainable Investing and Environmental Markets: Opportunities in a New Asset Class” (World Scientific). Both were published in Chinese by People's Oriental Press. His new book, “How I Saw It: Analysis and Commentary on Environmental Finance (1999–2005)” was published by World Scientific in December 2016.