Fixed price contract bundles, each consisting of one share of IPO_UP and one share of IPO_DN, can be purchased from or sold to the IEM system at any time. The price of each contract bundle is $1.00. The determination of liquidation values described above guarantees that the total payoff from holding a contract bundle until the market closes is $1.00.
To buy or sell fixed price contract bundles from the system, use the "Market Orders" option from the Trading Console. Select "GOOGLE_LIN (buy at fixed price)" from the Market Orders list to buy bundles. Select "GOOGLE_LIN (sell at fixed price)" to sell bundles.
Bundles consisting of one share of each of the contracts in this market may also be purchased and sold at current aggregate market prices rather than the fixed price of $1.00. To buy a market bundle at current ASK prices, use the "Market Order" option as above but select " GOOGLE_LIN (buy at market prices)." To sell a bundle at current market BID prices, select " GOOGLE_LIN (sell at market prices)."
Bundle purchases will be charged to your cash account and bundle sales will be credited to your cash account.
This market will remain open until contract liquidation. Liquidation values will be credited to the cash accounts of market participants.
Current and newly enrolled IEM traders will automatically be given access rights to the GOOGLE_LIN Market. Access to this market is achieved by logging into the IEM and choosing "GOOGLE_LIN" from the Navigation Bar.
Funds in a trader's cash account are fungible across markets so new investment deposits are not required. Additional investments up to the maximum of $500 can be made at any time. New traders can open accounts using the IEM OnLine Account Application page (http://iemweb.biz.uiowa.edu/signup). There is a one-time account registration fee of $5.00, and investments are limited to the range of $5.00 to $500.
Requests to withdraw funds may be submitted at any time by completing the IEM's Online Withdrawal Request form (www.biz.uiowa.edu/iem/accounts/withdrawalrequestform.html) or by completing and mailing the paper version of the request form. Additional information about requesting withdrawals is available at the IEM website at http://www.biz.uiowa.edu/iem/accounts/withdrawals.html.