Live Scenario Simulator &
Market Data Flow Architecture.
Step through institutional clearing scenarios in real time. Inspect wire protocol messages, sequence flow between simulated peers, and participant state blotters under both happy-path and chaos-injected market conditions.
The Journey of 500 Shares: What Really Happens Behind Your Screen
Forget financial jargon and acronyms for a moment. Here is the everyday human story of what happens when Sarah buys shares from David — and why banks need market simulators to make sure no one gets cheated.
Sarah is sitting in a Melbourne cafe. She opens her brokerage app and taps Buy 500 Commonwealth Bank shares at $130 ($65,000 total). At that exact instant in Sydney, David taps Sell 500 Commonwealth Bank shares at $130.
In less than 2 milliseconds, the exchange trading computers match them together! But here is the catch that most people don't know: No money or shares have changed hands yet. A trade match is simply a legal promise. Sarah still has her money, and David still has his shares.
:8695), simulating front-office FIX execution and trade drops.
How do the two brokers settle up without trusting each other? Sarah's broker (CommSec) and David's broker (Macquarie) both write an official digital letter to the market clearing house (CHESS):
Sarah's broker writes: "We promise to hand over $65,000 at the morning batch."
David's broker writes: "We promise to hand over 500 CBA shares at the morning batch."
CHESS reads both letters, checks that the numbers match, and locks both sides into the schedule.
comm_801) and matched advice (sett_101).
Why can't Sarah just send the money first? What if David takes the cash and vanishes?
Why can't David just send the shares first? What if Sarah's bank defaults and doesn't pay?
To eliminate this risk, the financial market invented DvP (Delivery versus Payment). Imagine a secure glass box:
Sarah puts $65,000 inside the box. David puts 500 CBA shares inside the box. At exactly 10:30 AM, the referee inspects the box. Only if both the money and the shares are present does the box unlock and swap them simultaneously.
If one side is missing, the trade stops and neither side loses a single cent.
pacs.009) across Exchange Settlement Accounts (ESA) and settlement notice (sett_117).
Australia has a financial superpower that protects everyday investors: The HIN (Holder Identification Number).
Sarah's shares are not stored on her broker's private balance sheet. Instead, the government-backed market register permanently records:
HIN 1001 · Sarah Jenkins · 500 CBA Shares [REGISTERED]
Even if Sarah's broker goes completely bankrupt tomorrow, Sarah still owns 100% of her Commonwealth Bank shares. David gets his $65,000 cash in his bank account to enjoy his road trip. Everyone is happy!
simulators.aegisposttrade.com to see HIN accounts (1001, 1002) and their live share balances stored directly in PostgreSQL.
Imagine David accidentally sold his 500 shares last week and forgot. When the referee checks the glass box at 10:30 AM, David has zero shares to deliver!
In an unregulated market, Sarah would lose her $65,000. But under the clearing engine:
1. The alarm rings instantly (Settlement Fail Notice: sett_119).
2. The referee slams the box shut: Sarah's $65,000 is protected and returned.
3. David's broker is fined a mandatory daily failure penalty levy until they buy the shares on the open market.
This is why banks buy Aegis Market Simulators. Banks and brokers cannot afford to make a mistake during live settlement. Our simulator lets them test this exact disaster scenario on a developer laptop in 400 milliseconds!
INSU (Insufficient Units) fail code and fail levy isolation trigger live!How to Run, Analyze, and Interpret Simulator Scenarios
A comprehensive operational guide for financial engineers, clearing managers, and integration architects. Learn how to step through clearing lifecycles, decode institutional ISO 20022 wire payloads, and interpret real-time holding book and cash ledger mutations.
Select Your Clearing Lifecycle
Choose one of 6 institutional market scenarios in the player above. Each scenario loads a complete multi-entity market state including participating brokers, investor HINs, security balances, and central bank cash accounts.
Step Through Sequence & Wire
Use Next Step → or Auto Play ▶ to trigger stage transitions. Watch the animated sequence flow between Participant Desks, Market Authorities, and Cash RTGS rails in real time.
Inspect Payloads & Blotter State
Toggle between Request Wire (ISO XML/AMQP), Peer Response (clearing acks/fails), and Engine Trace to inspect validation checks, holding reservations, and multilateral net obligations.
Scenario Playbook Matrix
What each scenario demonstrates, the wire protocols executed, and how to verify correctness across your accounting and holding records:
Protocol Decoder Ring: How to Read Wire Message Types
Quick reference guide to understanding the ASX ISO 20022, SWIFT, and central bank message formats emitted by the simulator:
| Message Prefix | Full Name | Domain | What to Look For |
|---|---|---|---|
comm_801 |
Securities Settlement Transaction Instruction | CHESS Bilateral | Delivering HIN, Receiving HIN, Security ISIN, Quantity, Settlement Amount, and Cash Settlement Method (DVP/HOLD). |
sett_101 |
Securities Settlement Transaction Confirmation | CHESS Settlement | Matched status (MATCHED), unique Clearing Match ID, and scheduled Batch Netting Cycle ID. |
sett_119 |
Securities Settlement Transaction Fails Notice | CHESS Settlement | Reject Reason Code (e.g. INSU = Insufficient Stock, LACK = Lack of Cash, NOPA = Closed HIN). |
clrg_501 |
Multi-Lateral Net Obligation Report | Clearing House | Net participant-level cash and stock obligations for the day across all market trades (Net-to-Gross netting). |
acmt.001 |
Account Opening Request | Subregister | Tax File Number (TFN) status, Holder Name, Address, Resident Status, and Controlling Participant UIC. |
pacs.009 |
Financial Institution Direct Cash Transfer | Central Bank RTGS | Debtor/Creditor BIC, RBA Exchange Settlement Account (ESA) numbers, and net currency cash amount in AUD. |
MCM 1.5.0 |
ASX Derivatives Clearing Message | ASX DCS | Option Series, Strike Price, Expiry, Long/Short capacity, and Give-Up Agreement ID. |
You can connect your own FIX engine, OMS, or back-office settlement software to our cloud simulator instance, or test live via the interactive Event Injector console.
Institutional Architecture Topology
Explore how the six standalone simulated market engines connect seamlessly to your front-, middle-, and back-office banking infrastructure on 127.0.0.1. Click any component to inspect its protocols, port specs, and throughput benchmarks.
ASX CHESS ISO 20022 Engine (:8690)
End-to-End Market Data Pipelines
Explore the five core post-trade data pipelines implemented in the Aegis simulator suite. Select a pipeline to trace wire message sequencing from execution to finality.
Equities Delivery-versus-Payment (DvP) Settlement Flow
Trace bilateral instructions through CHESS matching, multilateral batch netting, RBA RTGS Exchange Settlement Account sweeps, and subregister ownership transfer.
Executing broker desk transmits settlement instruction to deliver 50,000 BHP shares against counterparty payment of AUD $2,150,000. Engine verifies message schema, participant active permissions, and counterparty PID.
Market Scenario Execution Catalog
Standard test scenarios pre-programmed into the Australian Suite v1.0.0. Every scenario can be triggered in the simulator above, executed via cURL, or automated in CI pipelines.
Ready to Execute These Scenarios in Your Own CI Pipeline?
Request an evaluation JAR package and run all six scenarios in automated JUnit, Python, or Go test suites today.