PhiFIX Simulator is a simulation tool developed to perform FIX Trading scenarios for different Capital Markets participants. PhiFIX Simulator is an industry standard for comprehensive FIX testing simulator tool.The core objective of this tool is to create order matching environment to various API provided by venues/intermediaries and manage FIX connections from multiple FIX trading applications. FIX counterparties can be configured for FIX trading partner application by creating Listener session and connecting it with the client application (FIX trading partner).
This tool validates the FIX client request and process/simulate response message. PhiFIX Simulator as a server application supports engine- level validations, default validation and custom validation from the client application (FIX trading partner). Validations can be processed at both session level and message level. Once validation is done, simulator process order execution and Market data generations based on required inputs.
- Real-time market data feed manager to perform real-time matching.
- Rule-based matching manipulates the trade execution based on user-defined rules.
- Many to Many FIX connections can be established using multiple listener session configurations and also this tool supports multiple client connections.
- PhiFIX Simulator Suite supports all FIX versions and customized FIX tags
- Message validation can be configured across all FIX versions, and test results can be processed based on the validations configured.
- Log analyzer from PhiFIX Simulator Suite tracks FIX message logs that can be imported, replayed and analyzed to resolve production issues.
- The simulator has got matching engine implemented with various algorithms that generate order execution, market data generations and supports numerous order types and time in force.
- Book Preference: This enables orders to align in a defined order book.
- Trade management from simulator tool achieves configuration based trade execution such as Institutional trade configuration for Buy-side firms.