Sandor, Richard L
Good Derivatives : A Story of Financial and Environmental Innovation
Hoboken : John Wiley & Sons, c2012
Richard L Sandor; Ronald Coase
|ISBN:||9781118216491 1118216490 9781118216392 1118216393|
|注意：||Chapter 12: The Beginning of the Entrepreneurial Years.|
|描述：||1 online resource (649 p.)|
|内容：||Good Derivatives A Story of Financial and Environmental Innovation; Dedicated to My Family; Contents; Foreword; Preface; Acknowledgments; Chapter 1: The Early Years; The House of Sandor and Mirner; Bobby Fischer and My Days at School; Discovering Economics in Brooklyn; On to Minnesota; Berkeley Beckons; Chapter 2: Trying to Change the World; A Different Structure for a Different Kind of Exchange; Chicago--My Kind of Town; Structuring the Exchange; Talking to Regulators; The Dream Is Dashed; Chapter 3: The Berkeley Years; A New Direction. Plywood Futures--Learning How Others Create a Good DerivativeGrain Markets and Mortgages; Mortgage Interest Rate Futures--Creating Good Derivatives; Chicago Calls; Chapter 4: The Chicago Board of Trade Years; Mentors and Leaders; Trading with the Soviets; An Explosion in Grain Prices; Iron Men in Wooden Pits; The Gulf Wheat Futures Contract; Contract Improvement--The Brooklyn Farmer in Iowa; The Relationship between Futures Prices and Spot Prices; The Gold Futures Contract; Chapter 5: The Chicago Board of Trade Years; How GNMAs Work; Drafting GNMA Futures. Selling the Concept to Financial InstitutionsEnabling Legislation and Regulation for GNMA Futures; Transparent Markets--Greetings from the Grim Reaper; The GNMA Contract: Simple in Concept, Complex in Detail; The First Financial Good Derivative--
GNMA Mortgage Interest Rate Futures; Contracts without Lawyers; Her Name was Ginnie Mae; The Economic Benefits of GNMA Futures; Moving On; Chapter 6: Educating Users and Building the Market; Adapting at Conti; Travels with Charlie O. Finley; Finding Early Adopters; The Relationship between Prices in Different Months; Disseminating Prices. The Gordian Knot of Building a New MarketChapter 7: Treasury Bond and Note Futures; Trading a Notional Bond; Marketing Treasury Bond Futures; Educating Users; New Interest Rate Contracts; Ten-Year Treasury Note Futures; Innovation by Competition; Commoditizing Stocks; Chapter 8: The Decade of the Eighties; Exchange-Making in London; Three Men and a Market--MATIF; The Tale of Two Cities; On to Drexel; Once a Teacher, Always a Teacher; Drexel Grows; Drexel Becomes More International; Eurodollar and Stock Index Futures Contracts; The CBOT Options on Bond Futures. Chapter 9: Globalizing Chicago ExchangesThe Secret Ingredient of the CME; Financing Entrepreneurs; Catering to a Global Market with Night Trading; The Attack on Equity Derivatives--Wet Sidewalks Cause Rain; The Demise of Drexel; Chapter 10: Environmental Finance; The Acid Rain Problem in the United States; The Clean Air Act Amendment of 1990; Starting Over; Jack Welch and Kidder, Peabody; The CBOT's Role in the EPA Acid Rain Program; The First EPA Annual SO2 Auction; Chapter 11: Blame It on Rio; In Search of Trees--Commoditizing CO2; Caipirinhas and Climate Change; A New Academic Field.
Through 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, 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 worl.