October 8, 2001 | CBS MarketwatchThe business school at the University of Iowa has given its electronic market a complete makeover, giving everyone -- not just students -- the chance to bet on the outcome of Federal Open Market Committee meetings. The Iowa Electronic Markets is a pure play on the FOMC. Unlike the federal funds futures market at the Chicago Board of Trade, which can be tricky to decipher, the payoff on the Iowa market comes directly from the policy changes at the Fed. "It's easier to interpret" the Iowa market than the CBOT market, said FORREST NELSON, an economic professor at the University of Iowa who helps run the electronics market.
Contact: George McCrory, UI News Service, 319-384-0012