Sandor Sells Climate Exchange to ICE

Richard Sandor, who helped invent the interest-rate futures market, is exiting the carbon trading business. Sandor will sell his 17% stake in the Climate Exchange PLC to the Intercontinental Exchange Inc., according to a Bloomberg report.

Sandor founded the Climate Exchange in 2003 as a market to trade credits for companies to emit carbon dioxide. At that time, he predicted that carbon trading would become the world's largest commodity market.

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