{"product_id":"good-derivatives-isbn-9780470949733","title":"Good Derivatives","description":"Through the eyes of an inventor of new markets, \u003ci\u003eGood Derivatives: A Story of Financial and Environmental Innovation\u003c\/i\u003e tells the story of how financial innovation – a concept that is misunderstood and under attack - has been a positive force in the last four decades. If properly designed and regulated, these “good derivatives” can open vast possibilities to address a variety of global problems. Filled with provocative ideas, fascinating stories, and valuable lessons, it will provide both an insightful interpretation of the last forty years in capital and environmental markets and a vision of world finance for the next forty years.  \u003cp\u003eAs a young economist at the Chicago Board of Trade, Richard Sandor helped create interest rate futures, a development that revolutionized worldwide finance. Later, he pioneered the use of emissions trading to reduce acid rain, one of the most successful environmental programs ever. He will provide unique insights into the process of creating these new financial products. Covering successes and failures, the story describes the tireless process of inventing, educating and creating support for these new inventions in places like Chicago, New York, London, Paris and how it is unfolding today in Mumbai, Shanghai and Beijing.\u003c\/p\u003e \u003cp\u003eThe book will tell the story of the creation of the Chicago Climate Exchange and its affiliated exchanges (European Climate Exchange, Chicago Climate Futures Exchange and Tianjin Climate Exchange, located in China). The lessons learned in these markets can play a critical role in effectively addressing global climate change and other pressing environmental issues. The author argues that market-based trading systems are a far more effective means of reducing pollutants than “command-and-control”. Environmental markets may ultimately help to find solutions to issues such as rainforest destruction, water problems and biodiversity threats.\u003c\/p\u003e \u003cp\u003eWritten in an engaging, narrative style, \u003ci\u003eGood Derivatives\u003c\/i\u003e will be of interest to both practitioners and general readers who want to better understand the creative process of financial innovation. In the middle of so much distrust of markets, it is also a recipe of how transparent, well-regulated markets can be a force for good in the environmental, health, and social areas.\u003c\/p\u003e \u003cp\u003eForeword ix\u003c\/p\u003e \u003cp\u003ePreface xiii\u003c\/p\u003e \u003cp\u003eAcknowledgments xxi\u003c\/p\u003e \u003cp\u003eChapter 1 The Early Years 1\u003c\/p\u003e \u003cp\u003eChapter 2 Trying to Change the World 23\u003c\/p\u003e \u003cp\u003eChapter 3 The Berkeley Years 47\u003c\/p\u003e \u003cp\u003eChapter 4 The Chicago Board of Trade Years: The\u003c\/p\u003e \u003cp\u003eCommodity Futures Contract 65\u003c\/p\u003e \u003cp\u003eChapter 5 The Chicago Board of Trade Years: Financial\u003c\/p\u003e \u003cp\u003eFutures Contract 89\u003c\/p\u003e \u003cp\u003eChapter 6 Educating Users and Building the Market 125\u003c\/p\u003e \u003cp\u003eChapter 7 Treasury Bond and Note Futures 139\u003c\/p\u003e \u003cp\u003eChapter 8 The Decade of the Eighties 167\u003c\/p\u003e \u003cp\u003eChapter 9 Globalizing Chicago Exchanges 191\u003c\/p\u003e \u003cp\u003eChapter 10 Environmental Finance 205\u003c\/p\u003e \u003cp\u003eChapter 11 Blame It on Rio 223\u003c\/p\u003e \u003cp\u003eChapter 12 The Beginning of the Entrepreneurial Years 239\u003c\/p\u003e \u003cp\u003eChapter 13 You’re Gonna Trade What? 265\u003c\/p\u003e \u003cp\u003eChapter 14 From the Pit to the Box 291\u003c\/p\u003e \u003cp\u003eChapter 15 Conceiving a New Kind of Exchange 313\u003c\/p\u003e \u003cp\u003eChapter 16 The Twenty-First Century Lighthouse 327\u003c\/p\u003e \u003cp\u003eChapter 17 CCX Market Architecture 351\u003c\/p\u003e \u003cp\u003eChapter 18 Chicago Climate Exchange 375\u003c\/p\u003e \u003cp\u003eChapter 19 The Rise of the Chicago Climate Exchange 393\u003c\/p\u003e \u003cp\u003eChapter 20 The Fall of the Chicago Climate Exchange 413\u003c\/p\u003e \u003cp\u003eChapter 21 The Chicago Climate Futures Exchange 429\u003c\/p\u003e \u003cp\u003eChapter 22 The European Climate Exchange 453\u003c\/p\u003e \u003cp\u003eChapter 23 India 479\u003c\/p\u003e \u003cp\u003eChapter 24 Opening New Markets in China 501\u003c\/p\u003e \u003cp\u003eChapter 25 Good Derivatives 533\u003c\/p\u003e \u003cp\u003eAppendixes 559\u003c\/p\u003e \u003cp\u003eAcronyms 575\u003c\/p\u003e \u003cp\u003eGlossary 577\u003c\/p\u003e \u003cp\u003eIndex 593\u003c\/p\u003e \t \u003cp\u003e\u003cb\u003eRICHARD L. SANDOR\u003c\/b\u003e is Chairman and Chief Executive Officer of Environmental Financial Products LLC, which specializes in inventing, designing, and developing new financial markets with a special emphasis on investment advisory services.??EFP was established in 1998 and was the predecessor company and incubator to the Chicago Climate Exchange (CCX), the European Climate Exchange (ECX), and the Chicago Climate Futures Exchange (CCFE). Dr. Sandor was honored by the City of Chicago for his contribution to the creation of financial futures and his universal recognition as the \"father of financial futures.\" In October 2007, he was honored as one of \u003ci\u003eTime\u003c\/i\u003e magazine's \"Heroes of the Environment\" for his work as the \"Father of Carbon Trading.\" Dr. Sandor is a Distinguished Professor of Environmental Finance at Guanghua School of Management at Peking University and a Lecturer in Law at The University of Chicago Law School.   \u003c\/p\u003e\u003cp\u003eThrough the eyes of an inventor of new markets, \u003ci\u003e\u003cb\u003eGood Derivatives: A Story of Financial and Environmental Innovation\u003c\/b\u003e\u003c\/i\u003e tells the story of how financial innovation—a concept that is misunderstood and under attack—has been a positive force in the last four decades. If properly designed and regulated, \"good derivatives\" can open vast possibilities to address a variety of global problems. Filled with provocative ideas, fascinating stories, and valuable lessons, this timely book will provide both an insightful interpretation of the last forty years in capital and environmental markets and a vision of world finance for the next forty years.\u003c\/p\u003e \u003cp\u003eAs a young economist at the Chicago Board of Trade, Richard Sandor helped create interest rate futures, a development that revolutionized worldwide finance. Later, he pioneered the use of emissions trading to reduce acid rain, one of the most successful environmental programs ever. Throughout these pages, he will provide unique insights into the process of creating these new financial products. Covering successes and failures, the story describes the tireless process of inventing, educating, and creating support for these new inventions in places like Chicago, New York, London, and Paris and how it is unfolding today in Mumbai, Shanghai, and Beijing.\u003c\/p\u003e \u003cp\u003eAlong the way, this book tells the story of the creation of the Chicago Climate Exchange and its affiliated exchanges—the European Climate Exchange, the Chicago Climate Futures Exchange, and the Tianjin Climate Exchange, located in China. The lessons learned in these markets can play a critical role in effectively addressing global climate change and other pressing environmental issues. The author argues that market-based trading systems are a far more effective means of reducing pollutants than \"command-and-control.\" Environmental markets may ultimately help to find solutions to issues such as rainforest destruction, water problems, and biodiversity threats.\u003c\/p\u003e \u003cp\u003eWritten in an engaging, narrative style, \u003ci\u003e\u003cb\u003eGood Derivatives\u003c\/b\u003e\u003c\/i\u003e will be of interest to both practitioners and general readers who want to better understand the creative process of financial innovation. In the middle of so much distrust of markets, it is also a recipe of how transparent, well-regulated markets can be a force for good in environmental, health, and social areas.\u003c\/p\u003e \t \u003cp\u003e\u003cb\u003eGOOD\u003c\/b\u003e\u003cb\u003e DERIVATIVES\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003eThrough the eyes of an inventor of new markets, Good Derivatives: A Story of Financial and Environmental Innovation tells the story of how financial innovation—a concept that is misunderstood and under attack—has been a positive force in the last four decades. If properly designed and regulated, \"good derivatives\" can open vast possibilities to address a variety of global problems. Filled with provocative ideas, fascinating stories, and valuable lessons, this timely book will provide both an insightful interpretation of the last forty years in capital and environmental markets and a vision of world finance for the next forty years. \u003c\/p\u003e\u003cp\u003eAs a young economist at the Chicago Board of Trade, Richard Sandor helped create interest rate futures, a development that revolutionized worldwide finance. Later, he pioneered the use of emissions trading to reduce acid rain, one of the most successful environmental programs ever. Throughout these pages, he will provide unique insights into the process of creating these new financial products. Covering successes and failures, the story describes the tireless process of inventing, educating, and creating support for these new inventions in places like Chicago, New York, London, and Paris and how it is unfolding today in Mumbai, Shanghai, and Beijing. \u003c\/p\u003e\u003cp\u003eAlong the way, this book tells the story of the creation of the Chicago Climate Exchange and its affiliated exchanges—the European Climate Exchange, the Chicago Climate Futures Exchange, and the Tianjin Climate Exchange, located in China. The lessons learned in these markets can play a critical role in effectively addressing global climate change and other pressing environmental issues. The author argues that market- based trading systems are a far more effective means of reducing pollutants than \"command-and-control.\" Environmental markets may ultimately help to find solutions to issues such as rainforest destruction, water problems, and biodiversity threats. \u003c\/p\u003e\u003cp\u003eWritten in an engaging, narrative style, Good Derivatives will be of interest to both practitioners and general readers who want to better understand the creative process of financial innovation. In the middle of so much distrust of markets, it is also a recipe of how transparent, well-regulated markets can be a force for good in environmental, health, and social areas.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47989303804133,"sku":"NP9780470949733","price":45.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9780470949733.jpg?v=1761783591","url":"https:\/\/k12savings.com\/es\/products\/good-derivatives-isbn-9780470949733","provider":"K12savings","version":"1.0","type":"link"}