{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,4,28]],"date-time":"2026-04-28T15:45:55Z","timestamp":1777391155430,"version":"3.51.4"},"reference-count":0,"publisher":"SAGE Publications","issue":"2","content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["AF"],"published-print":{"date-parts":[[2012,8,2]]},"abstract":"<jats:p>The Iowa Electronic Markets are small, real-money financial markets designed to aggregate information about future events. The market microstructure of these markets is studied and a market making model is developed to provide liquidity for one set of securities offered by this exchange. A computer program was created to employ the market making model and profit from the market\u2019s inefficiencies. Using invested capital, the system traded 34% of the total market volume and achieved a Sharpe ratio of 9.9. This paper reveals the details of how this algorithmic trader worked to show how it functioned and the value it added to the Iowa Electronic Markets.<\/jats:p>","DOI":"10.3233\/af-2011-012","type":"journal-article","created":{"date-parts":[[2019,11,9]],"date-time":"2019-11-09T17:43:46Z","timestamp":1573321426000},"page":"157-181","source":"Crossref","is-referenced-by-count":2,"title":["Algorithmic trading in the Iowa electronic markets"],"prefix":"10.1177","volume":"1","author":[{"given":"James E.","family":"Schmitz","sequence":"first","affiliation":[{"name":"Barclays Capital Inc., New York, NY, USA. E-mail: james.schmitz@gmail.com"}],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"179","container-title":["Algorithmic Finance"],"original-title":[],"link":[{"URL":"https:\/\/content.iospress.com\/download?id=10.3233\/AF-2011-012","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2026,4,28]],"date-time":"2026-04-28T09:52:37Z","timestamp":1777369957000},"score":1,"resource":{"primary":{"URL":"https:\/\/journals.sagepub.com\/doi\/full\/10.3233\/AF-2011-012"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2012,8,2]]},"references-count":0,"journal-issue":{"issue":"2"},"URL":"https:\/\/doi.org\/10.3233\/af-2011-012","relation":{},"ISSN":["2157-6203","2158-5571"],"issn-type":[{"value":"2157-6203","type":"electronic"},{"value":"2158-5571","type":"print"}],"subject":[],"published":{"date-parts":[[2012,8,2]]}}}