Sandor Exits CO2 Trade, Sells Climate Exchange to ICE

Richard Sandor agreed to sell Climate Exchange Plc to Intercontinental Exchange Inc., exiting the biggest carbon market before he could establish a global mechanism for curbing greenhouse gas.

Sandor, 68, helped invent interest-rate futures in Chicago before founding London-based Climate Exchange in 2003 and predicting last year that allowances to emit carbon dioxide “will become the largest commodity in the world.”