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What is the IEM?
The IEM is an on-line futures market where contract payoffs are based on real-world
events such as political outcomes,
companies' earnings per share (EPS), and
stock price returns. The market is operated by University of Iowa College of Business Administration faculty as an educational and research project.
For an overview of our Political Markets,
see the August 28, 1995, Wall Street Journal article
reproduced on our webserver courtesy of the Wall Street Journal.
Currently we have Earnings and returns markets posted.
All the software to run these markets is housed at the University of Iowa College of Business.
Who can trade in the IEM?
Anyone, world-wide, can trade in the
political markets. Participants with academic affiliations
(students, staff, and faculty) can also trade in the earnings and
return markets.
How do participants make money?
Participants open a trading account. After this
account is open, traders use their cash to buy and sell
contracts. Contracts enter circulation in the IEM whenever a
trader uses cash to purchase a bundle of contracts. Each bundle
consists of a package of contracts with a pre-specified total
liquidation value and is sold for that value. Traders then split
these bundles and trade the individual contracts with other
traders. When contracts pay off, traders' cash accounts are
increased by the liquidation values of the contracts they hold.
How do participants sign up?
Each participant must open a trading account and invest
between $5 and $500. The detailed process for opening an account is described in
our Frequently
Asked Questions page.
Can I try out the market without enrolling?
Yes! Use the login
procedure described below. You can try trading in our "practice" markets
to familiarize yourself with how the IEM works.
How do I access the IEM?
- You must have a web browser to access
our markets. We have created web pages
for each market and here is the link to
login to the IEM and to our markets.
If you have questions, email us,
fill out our on-line comment form, or call us.
This page was last modified on Wednesday September 03 2008.
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