A look back and a look forward with Richard Sandor

500th issue

Next week Futures will go live with our July/August issue, the 500th issue of Futures dating back to when we launched as Commodities magazine.  As part of the 500th issues we take a look back at some of the stories that made Futures the go to source for traders and Futures industry professionals.

We talked to Richard (Doc) Sandor about the future of futures. Sandor was responsible for creating the first interest rate futures contract (Ginnie Mae) as well the enormously successful 30-year bond contract. Later he would work on creating a model for trading environmental markets and helped to develop the cap and trade methodology used to trade carbon around the world.

Sandor said that computers will continue to play an important part in the growth of futures markets but that growth will be driven by “new geographies” particularly in Asia and specifically in China, which is beginning to take a leading role in environmental markets.

As for environmental markets in the United States, he says that regional cap and trade markets like the one developing in California will take the lead.

We turned to Sandor because in 1972 he co-authored an article for the very first issue of Commodities along with Lance J. Hoffman. The subject:  Computers and commodity trading.

Computers were just beginning to be used to develop technical trading systems and Sandor was on the cutting edge and prescient when he concluded the there was a “great futures in futures for computers.”

Below is a PDF of the original article:



Note: August will be the 500th issue of Futures magazine dating back to its origin as Commodities magazine in February 1972. In addition to the print issue that will include several look backs to the important articles that defined Commodities and Futures, we will be digitizing many of those articles and including additional features highlighting the important people, strategies and stories over 500 issues.  

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