Iowa Electronic Markets Tippie College of Business University of Iowa iem@uiowa.edu Description of price files for 1996 Iowa Political Stock Markets ------------------------------------ Format of the PRICE files. RECORD FORMAT (one record per line): Date Contract # Symbol Number of Trades Number of shares traded Dollar Volume Low Price High Price Last Price (prices of -1 indicate no transactions that day) ------------------------------------------------------------------ SPIN OFFS Beginning July 1, 1995, the IEM will spin-off a new candidate-specific contract in the Republican Convention Market whenever a candidate is favored for the Republican Presidential nomination by more that 10% of those polled in a national poll of Republican voters. When a new, candidate-specific contract is created, it will be spun-off from the RCROF contract. Each RCROF contract will be replaced by two new contracts: a candidate-specific contract and a new RCROF contract. The new RCROF contract will represent all remaining un-named candidates in the market. Since the value of the RCROF contract may change when a new candidate-specific contract is spun off, all outstanding RCROF bids and offers will be cancelled at the time of the spinoff. Please see the Republican Convention Prospectus for additional details. Official sources for these polls are: Los Angeles Times, Newsweek, New York Times, Time Magazine, Wall Street Journal, Washington Post. Contracts Spun Off August 7, 1995: Buchanan (BUCH) October 9, 1995: Powell (POWL) January 12, 1996: Forbes (FORB)