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The magnetic properties in the parent compounds are often intimately relatedto the microscopic mechanism of superconductivity. Here we report the firstdirect measurements on the electronic structure of a parent compound of thenewly discovered iron-based superconductor, BaFe$_2$As$_2$, which provides afoundation for further studies. We show that the energy of the spin densitywave (SDW) in BaFe$_2$As$_2$ is lowered through exotic exchange splitting ofthe band structure, rather than Fermi surface nesting of itinerant electrons.This clearly demonstrates that a metallic SDW state could be solely induced byinteractions of local magnetic moments, resembling the nature ofantiferromagnetic order in cuprate parent compounds.

Electronic structure and exotic exchange splitting in spin-density-wave states of BaFe$_2$As$_2$