A Tutorial on Smart Markets
By: John F. Raffensperger (from IFORS News December 2011)
Advantages of a smart market
The smart market simplifies trading complex goods and services. Buyers and sellers know where to go to find each other, and are usually assured of competitive prices. The market manager can set and enforce rules on who is allowed to trade, so traders can be more confident that the trade will actually happen. So the market is orderly and transparent. When something goes wrong, rules are in place to resolve the problem.
Link to material: http://ifors.org/wiki/tutorials-newsletter/smart-markets.pdf