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,...

Source: Wall Street Journal April 16, 2019 10:30 UTC