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1. gt E temn Syntax Functions Params Data Manipulation Data Definition E MySQL Utility E Transactional and Locking Query returned no resultset _ 1 _Edi iscard Changes First i Last P arch ML a Z 4 Delete the definitions of input and output databases of the project from MySQL by right clicking the database name from schemata and selecting Drop Schema In this example these are Schemas i_RemoveMe and o_RemoveMe Confirm deletion for each database 7E TEN 4 HANNO str CRGITC ORDER Schemata Sookmers Create New Schema Create New Table Create New View Create New Procedure Function Syntax Func Refresh Data Manipul Transactional and Locking 5 After changes in database contents the entire project folder can be deleted from the simulator folder C BoF PSS P_RemoveMe 3 4 Setting up a payment and settlement system Create a new system data set or modify an old system data set by accessing the System control data specification modification screen The screen opens by clicking the Define system data button on the Main menu This screen is used to BoF PSS2 User Manual 48 define available system names and system data sets settlement conventions and algorithms for the systems The use of parallel system data sets for the same system facilitates simulations with the same transactions and p
2. 5 3 Databases The simulator uses MySQL databases located on the workstation There are three types of databases system database input database and output database The simulator has a common system database which is created during the first session with the program The program creates the directory PSS2_systemdb in the installation directory Input and output databases are created automatically for each project defined by the user C BoF PSS2 is the default directory for the simulator see Figure 1 BoF PSS2 User Manual 116 FRM MYI and MYD files for each data table Figure 1 In MySQL each database has three separate files for each database table They contain data dictionary information FRM files index information MYI files and data files files Input and output databases reside in the project directories The project directory by default is identical with the project name The input and output databases by default are located in different subdirectories of the project directory and identified by the prefix i_ for input databases and _ for output databases followed by the project name These directories are created by the initial specification view together with the FRM MYI and MYD files for each database table see Figure 2 Only one input and output database can be specified for each project at any given point in time However especially if the input dat
3. BoF PSS2 User Manual 72 3 11 7 Creating a new comparison view at the system level Comparison views provide the opportunity to compare the output of different simulations Simulations and data fields must be defined to be compared This function can be used for reporting the results from different simulations as columns in a common table The percentage and absolute difference compared with the first column simulation can also be shown Data are saved in CSV files for further analysis Comparable statistics include all fields which are recorded in system statistics output table SYLS For detailed definitions of the individual indicators see Description of BOF PSS databases and files document On the System comparison analyser screen 1 Select the Create new comparison view radio button and type the name of the comparison view To copy from an old comparison view select a comparison view from the drop down list Information of the selected comparison view is shown on the screen 2 Type in the name of the output file The default directory is OUTPUT REPORTS 3 If you want the differences from the first selected simulation to be displayed select the Show percentage or Show absolute check box or both 4 Add simulations systems and fields to the comparison report Adding Select a value from the drop down list and add it to the table by clicking the Add to comparison button Deleting Select the row to be deleted from the t
4. _X v Developer Components This feature requires 38MB on your hard drive Install to Using the default location for MySQL C MySQL is advisable BoF PSS2 User Manual 12 5 Click next and install the MySQL server The program features you selected are being installed while the Setup Wizard installs MySQL Server 5 0 This may take ey several minutes Status Copying new files 6 After completing the installation wizard select the option Configure the MySQL Server now and click Finish Wizard Completed Setup has finished installing MySQL Server 5 0 Click Finish to exit the wizard Configure the MySQL Server now Use this option to generate an optimized MySQL config file setup a Windows service running on a dedicated port and to set the password for the root account BoF PSS2 User Manual 13 7 Select Standard Configuration and click next MySQL Server Instance Configuration Wizard MySQL Server Instance Configuration Configure the MySQL Server 5 0 server instance Please select a configuration type Detailed Configuration Choose this configuration type to create the optimal server setup for this machine Standard Configuration Use this only on machines that do not already have a MySQL server installation This will use a general purpose configuration for the server that can be tuned manually lt B
5. 129 6 5 Inport THDUL fle i eeen ea a Eu dt OON 129 6 0 VieWwdata SEIS cessit i ve o a deste e Melt ad Mu ee e 130 GT Delete dab ib Sess se eite et E t 130 0 5 EXportmput eoe Pio lioe obesse Lo ti Mass 131 6 9 Simulation configuration 131 6 10 Simulation exe CU COR o bU Dia use nte eee 132 GTI View simulation aces ois sie aidan tats Sete dst muda tiers 132 6 12 Basic statistics reports eter SABEN Sex en FUP RR RUNS E Ue Een 133 6 13 Account COR parisOfiz sre bind bed ao Peace evi doen 133 GAS System compati son oso t MA asad 134 6 13 Delete Gala ooa cts wisi ibm ub ista oeste 134 6 I6 Export output DIU usce ics dente ven ide deditio 135 6 17 Network Analysis Toolbox eeeeeeeeeeeeeeneeennenenn 135 7 Technical documentation wviisiccssessetsscosscscecssocsossscoscceassussesdsdsoscecassssevecdosses 136 8 Troubleshooting guide sssccsscsscssscsssssscssssesscessesssssssssseessssssesensees 136 9 Acknowledgements eee cree eerte ee ee eoe eee eo Pee eoo t eos ee eo s eaae o eau 138 BoF PSS2 User Manual 3 1 Introduction The Bank of Finland Payment and Settlement System Simulator BoF PSS2 is analysis software designed for payment and settlement system simulations The simu
6. Bilateral limits can be viewed from two perspectives depending on the type of system under study e In liquidity based systems typically RTGS the limits are defined by the sender of payments Here the sender can restrict the value of outgoing payments in order to save liquidity Limit can be set individually for each bilateral pair of participants or multilaterally to limit the total net value of liquidity flowing out from a given participant e In credit based systems typically CNS the participant receiving payments is actually setting the limits These can be viewed as restrictions for each sender s ability to send payments towards the receiver limits for the credit exposure the receiver is accepting In this case for example credit limit granted from participant A to B has to be implemented in the simulator as bilateral debit cap limit in the opposite direction from B to A This way it is correctly limiting the payments sent from B to A All bilateral limitsare set within the BLIM input table The limits do not need to be symmetric i e limit from A to B does not need to be same as from B to A Bilateral limits are only in force for those participant pairs for which they are explicitly specified Debit caps are defined by setting a value to the L NEWVALUE field and credit caps are defined by setting a value in the L DBCVALUE field of the BLIM data table either one or both values can be set with one row of input data file In such sim
7. BoF PSS2 User Manual 128 6 4 System control data specification modification gt Select existing system ID Create new system ID EXIRTGS Create new system data set BasicRTG _ a Copy from old system data set Transfer of balances Handling of unsettled transactions Transfer balances to next day Credits according to limit table or Transfer unsettled transactions to next day settlement occasion No credits available or Delete unsettled transactions include in statistics m Delet ettled transactions exclude from statistic _ Bilateral limit in use O Credit available without limits 3 Force end of day settlement of unsettled transactions Potential algorithms select one and add it to the attached algorithms by pressing the Add algorithm button ENT and END algorithms are mandatory Attached algorithms Changes of order by dragging dropping Deletion by striking keyboard delete button for active algorithms Algorithm Algorithm t Time estimation algorithm Double click row to insert parameter values ENBASICI ENT not supported IENDRTGS1 END not supported 6 5 Import input file Import input file Database table PART Participant data iv pen separator i Date format Time format Decimal separator uate Input file
8. Installation Configuration Rules Installation Progress Complete Server Configuration Data Directories User Instances Specify the authentication mode and administrators for the Database Engine Authentication Mode Windows authentication mode Mixed Mode SQL Server authentication and Windows authentication Specify the password forthe SQL Server system administrator sa account Enter password Z Confirm password pee 7 Specify SQL Server administrators Add Current user Add 2PC Simulator02 Simulator02 Remove SQL Server administrators have 10 Set authentication mode to Mixed Mode Depending on your security settings you might be able to let the password empty if not you can define for example bofpss2 If you define a password here you will have to edit the BoF PSS2_DB properties file accordingly The simulator BoF PSS2 User Manual 23 installer assumes the password to be empty and the user name to be for SQL SERVER installations For more details see the instructions for installing the simulator 2 3 Specify the SQL Server Administrator by clicking the Add Current User button The displayed name of the current user will most likely differ from the one on the picture of the manual as your computers own name will be used We SQL Server 2012 Setup iInix Reporting Services Configuration Specify the Reporting Services configuratio
9. C BoF PSS2 P_TestingINPUT Browse System ID 9 Create new data set Create new template C Update old data set 9 Use old template G Insert in old data set Number of rows records to skip at the beginning i Number of rows records to skip at the end Data table File colu DB c Man Var name Descriptive E Bo Rows processed Stop import Indo i Execute import View error report BoF PSS2 User Manual 129 6 6 View data sets View data sets Project Testing Data type PART Participant data SystemID EXI RTGS m Dataset ID EX Part PatticipantID Account Fullname Acronym Accountn Settles in system Settles in participant Settles in account Liquid j Bank 1 Bank 10 Bank 11 Bank 12 Bank 13 Bank 14 Bank 15 Bank 16 Bank 17 Bank 18 Bank 2 Bank 3 Bank 4 Bank 5 Bank 6 Bank 7 Bank 8 Delete data sets Project Testing Data type PART Participant data System ID EXI RTGS v To delete data sets press Ctrl and click the data sets active with the left mouse button Press the Delete data sets button below Optimise input database Delete data sets Back to main menu Exit program BoF PSS2 User Manual 130 6 8 Export input file Export input file Project Testing BOSE Ein separator Date forma
10. Performs batch runs on designated moments to settle a group of the queued payments with PNS Time time time tim group codes Implementation of this algorithm or CPNST e max 40 24h will be provided where total value of S HH MM format transactions to be included in the group of settled transactions is maximized Algorithm can be implemented as MNS so that it can be used together with PNS queue release presented above SET algorithms and END algorithm from the normal RTGS algorithms should be used together with GC modules Other sub algorithms should not be mixed with GC algorithms since these do not follow the conditions for settlement stated in the group codes BoF PSS2 User Manual 108 4 3 System event handler algorithms SEH This is a special type of algorithms that are used to adjust the basic rules of a simulated system Rules here mean the way a system reacts to specific events occurring during a simulation Each payment system can have its own set of rules according to which it reacts to different events occurring in a settlement process The events recognized by the simulator s default event handler are the following Introduction of a new transaction Bilateral limit change Intraday Credit limit change Receipt reactive period start Receipt reactive period end Reaching the from time of a payment PROCTY PE Expiry of till time PROCTYP2 End of day The event handler contains also some commo
11. folder is assumed to be D BoF PSS p_example1 2 Simulator software is closed on both PC s 3 The folder C BoF PSS p_example1 from the original PC is copied and used to replace the folder D BoF PSS p_example1 of the newly created namesake project in the second PC After this the simulator can be started in PC 2 and the contents of examplel project can be used and studied further as in PC 1 Similarly backups can be made of simulation projects The same procedure can also be used for transferring only some parts of the projects such as input database The overall file and directory structure of the simulator is presented in more detail in chapter 5 1 NOTE The major version number of the simulator in both computers has to be the same When changes in the database structure of BoF PSS are made the first number in the version numbering is increased e g from version 1 2 0 to 2 0 0 This makes it impossible to transfer databases by simply copying the files Also the installed MySQL MariaDB versions should be the same on both PC s BoF PSS2 User Manual 46 3 3 4 Deleting projects Projects that are no longer needed can be deleted to release disk space This can be done by using the delete project feature on the Initial Specifications screen by selecting the relevant project from the old projects list and by prssing the Delete Project button at the bottom right corner Projects can also be removed manually Removing a project by simpl
12. queue in this particular bilateral relationship Calculated based on TEST and QURE table All values are calculated from the sending participant s account s side For example when net value of payments sent between participants B1 and B2 is 100 that is B1 has paid 100 units more to B2 than it has received payments from B2 the value of the bilateral End of day balance column 16 on the row that has B1 as the sending participant column 3 and B2 as the receiving participant column 6 is 100 and represents a sending surplus If receiving participant is reported as MULTILIMIT this means that values in that row represent the net position of the current participant account towards all the others More information of using bilateral limits is presented in section 4 1 5 Algorithms for systems with bilateral limits 3 11 4 System time series reports The system time series report gives the opportunity to derive system level balances and other numeric information for given points of time as time series are based on equal intervals in minutes On the Basic statistics reports screen 1 Selecta simulation from the drop down list 2 Type in the name of the output file The default output directory is OUTPUT REPORTS 3 Select the System time series report radio button 4 Selecta system ID from the drop down list 5 Type in interval in minutes 1 60 into the edit box 6 Click the Save in csv file or Save and open
13. yrolders 25 GE X A Address C c BoF pss2 p_PROJECTIIi_PROJECTI v os Folders wme Size Type w Desktop aj FRM File cg My Computer a dbal MyD 1KB MYD File EE m 31 Floppy dbal MYI 2KB MYIFile Local Disk 2 iccl frm 9KB FRM File 22 07 BoF pss2 is iccl MYD 1KB MYD File C EXAMPLES iccl MYI 2kB MYI File mooutes 2 part frm 9KB FRM File P PROJECTI a part MYD 1KB MYD File pay 2 part MYI 2KB MYIFile PROJEL Fil C INPUT salg frm 9KB FRM je C PRoxEcT a salg MYD 1KB MYD File p salg MYI 2KB MYI File 22 OUTPUT 2 OUTPUT REPORTS sycd frm 9KB FRMFile TEMP is sycd MYD 1KB MYD File EC PROGRAM 12 sycd Mv 2KB MYIFie C Pss2 systemdb tran frm 10KB FRMFile C USERMODULES 25 tran MYD 10 580 MYD File n sm gt 11 6 18 objectis Disk free space 533 My Computer 5 2 About MySQL MySQL is a popular and efficient open source database product with good documentation and a good reputation Information about MySQL can be found on MySQL AB s website www mysql com An online reference manual is available and it can also be downloaded from the MySQL site Advanced simulator users can make their own database retrieval procedures directly to the databases as SQL queries Also Java and C connectors are available as well as a general ODBC connector that can be used with e g MS Access or Visual Basic Ther
14. Java compiler to a class file class You can accomplish this with Sun s javac The simulator s main JAR file BoF PSS2 jar must be in included class path while compiling For detailed instructions see the document BoF PSS2 Algorithm Descriptions And User Module Development Guide On the User module definition screen Type in the name of the user module max 8 characters Click the Browse button and select the Java class file of the module Select a user module type from the drop down list Select the system types this algorithm is available for RTGS CNS DNS If the module can accept parameters in the system data definition stage you have to define the parameter names and types Type in the name of the in the edit box and select a checking rule from the drop down list Add the parameter and the checking rule for the user module by pressing the Add parameter button Repeat the procedure for each parameter required We us If you want to delete a parameter from the user module select it from the table and click the Delete parameter button 6 Click the Save definition button The algorithm should now be selectable in the system data definition screen BoF PSS2 User Manual 111 5 Data content and databases 5 1 File directory structure The simulator has a file directory structure that is partly built by the setup program and partly by the application based on users project specifications The setup program crea
15. SQL Server you will have to install a suitable JDBC driver for MS SQL Server Please refer to 2 8 2 5 Starting the BoF PSS2 simulator If you decided to use MS SQL server instead of MySQL or MARIADB you need to install a suitable JDBC Driver before running the simulator This is because the the default Drizzle connector will not function only with MySQL and MariaDB see 2 8 Double click the BoF PSS2 short cut icon on the desktop If you haven t created a short cut start the program by selecting it from Start Menu BoF PSS2 Three windows will be automatically opened when the simulator is started BoF PSS2 User Manual 35 1 The start up bat sequence window This window shows information of simulator status and e g displays error messages if there are problems with connection to MySQL MariaDB or in the java runtime environment Contents of this window are written to c BoF PSS Program log txt 2 The MySQL monitor window opens since the MySQL server is started automatically 3 Simulator application and user interface window itself When the simulator is installed the system database c BOF PSS2 PSS2_systemdb is not yet created When the simulator is started it will check if it can find the system database if not it will create it Later if for a reason or an other the simulator will not be able to find the system database it will try to recreate it The first session equivalent to a situation when operating with a blank
16. all the dynamic parameters of the TEA algorithm must be supported by the parent algorithm The parent algorithm can support more dynamic parameters than the TEA algorithm The following time estimation algorithmis are provided Dynamic parameters transaction count in the parent algorithm account participant count in the parent algorithm Time estimation function bi a0 al x a2 y a3 z a4 TEA TEALGOI solution a5 2 7 8 a9 z actually used CPU time in milliseconds varies set relevant coefficients as for environment independent results ixed parameters a9 a8 a7 a6 a5 a4 a3 a2 al a0 bl New TEA algorithms can be introduced as user modules similarly as any other algorithms 4 5 User module interface Adding user modules gives you the possibility to create your own settlement algorithms and processing conventions See User module development guide for details The easiest way to develop user modules is by copying relevant parts from an existing algorithm and inserting the desired modifications You can add your own user modules by accessing the User module definition screen The screen opens by clicking the User module definitions button on the Main menu BoF PSS2 User Manual 110 4 5 1 Adding a user module Before you can add a user module to the simulator you first have to compile it from the Java code file java with a
17. and 2 by including transactions that can be settled within the available bilateral limit The algorithm removes transactions one by one in starts by removing the last based on user defined field 2 first and then field 1 for each participant pair The solution must fulfil the bilateral limit criteria and the overall balance limitations The algorithm is performed after each transaction queue entry liquidity transfer and overall credit and bilateral limit change so caution is needed BoF PSS2 User Manual 90 Type Name Parameters Description with large transaction volumes Supports Credit cap limits starting from version 3 1 0 Performs partial net offsetting of bilaterally queued transactions in FIFO and priority order at given time intervals during the day in inutes interval 1 minutes A starting time may be defined the BBS BBFIFOPI 60 starting time default starting time is when the system is hhmmss opened The algorithm removes transactions one by one for participants unable to settle to see if a partial settlement is possible Supports Credit cap limits starting from version 3 1 0 Performs partial net offsetting of bilaterally queued transactions in user defined order at given time intervals during the day in inites interval C1 minutes A starting time can be defined the BBDEQUEI 60 starting time hhmmss default staring time is when the system is opened The algorithm removes transactions one by one for
18. can analyse simulations at the account level by making comparisons System comparison You can analyse simulations at the system level by making comparisons Delete output data You can delete output data Export output file You can export output data into files Generate networks You can generate network data from transaction data in input or output databases generated network files Generate stochastic Automatic generation of transaction and participant data data using a generation algorithm Help You can open the help Exit program You can stop the program by clicking the Exit program button 3 3 Working with projects The Initial specifications screen opens when you start the BoF PSS2 program for the first time Create a new project or modify old ones on this screen The screen can be opened later by clicking the Initial specifications button on the Main menu Each project has its own directory that carries the project name The project name can be up to eight characters long Special characters should be avoided but underline _ is acceptable Under this directory following sub directories are created Input database directory Output database directory Default directory where input files are located Default directory where error lists are saved Default directory where output files are saved and Default directory where output reports are saved BoF PSS2 User Manual 44 The location of
19. clicking on the Import input file button on the Main menu You can import participant data daily balances data intraday credit limits data transaction data and bilateral credit limit data by means of this screen System data can be defined on the System control data specification modification screen The input file has to be a text file e g txt or csv You also have to specify data and decimal separators and date and time formats The different input data types data tables are coded as follows PART contains participant and account data This can be defined on participant level only or alternatively on combined participant and account level In the latter case the same participant may have multiple accounts but for each both the participant and account ID should be specified This feature can be used to define different omnibus accounts for clearing parties in a securities settlement system DBAL contains the initial daily balances data of participants or accounts It is optional and lacking processing starts from zero balances the first day ICCL contains intraday credit limit changes of participants It is also optional TRAN contains the transactions of a given system There can also be transactions pointing to other systems This is done by defining the to system field for transactions The from system field must always contain the same ID which is defined as the system ID of the dataset BLIM contains th
20. csv file button Both actions will save the report as a CSV file the Save and open csv file will open the file in Excel The system time series report is calculated as the sum of the individual participant account time series The report contains following fields Col Detailed name Description 1 Simulation date Date of simulation Presented according to date format defaults 2 Beginning of period Starting time of reported time series period 3 End of period End time of time series period 4 Liquidity available Aggregate value of available liquidity of all participants accounts in the system Recorded at the end moment of corresponding period 5 Value submitted Aggregate value of all transactions submitted in the system during the period BoF PSS2 User Manual 70 6 Value settled Aggregate value of all transactions settled in the system during the period 7 Value in queue Aggregate value of all transactions that were in the queue during the period It does not matter for how long transactions stayed in the queue 8 Number submitted Number of all transactions submitted in the system during the period 9 Number settled Number of all transactions settled in the system during the period 10 Number in queue Number of all transactions that were in the queue during the period It does not matter for how long transactions stayed in the queue 11 Number of participants with Number of partici
21. date Begin time and End time These dates and times affect the time window used in the visualization and only the date affects the date window used in network statistics calculation Dates and times should be entered in the same format as they appear in the database tables TRAN TEST For dates this format is yyyymmdd For times the default format is hhmmss000000 where 000000 denotes microseconds There is some flexibility with the time format less so with the date format SOL filter It also possible to restrict the network to transactions according to any logical combination of other fields in the TRAN TEST table The restriction will apply to both network visualization and network statistics Standard SQL syntax is supported Examples of conditions that can be entered into SQL filter input data T_TRANVALU gt 1e6 T TOPARTID Bank1 OR T_FRPARTID Bank1 T_TRANCLAS 1 2 output data BoF PSS2 User Manual 77 E_TRANVALU gt 1e6 E_TOPARTID Bank1 OR E_FRPARTID Bank1 E_SETTSTAT 0 3 12 2 Network Visualization Edge width Gross value net value count and Edge type Directed Undirected For the Directed edge type the edges are arrows for the Undirected the edges are line segments Gross value Directed One edge is aggregated transaction volume in one direction and the width of the edge is proportional to the volume Undirected The edge is the sum of aggregated volume in bo
22. desired CNS system structure by combining the available algorithms and user developed modules In most case SEBASIC1 is also invoked along with BoF PSS2 User Manual 97 the mandatory ENBASICI or ENFORURG ENDCNSOI A queue release algorithm e g QUFIFOPR is also used in most CNS simulations because most CNS systems contain a queuing facility When simulations involve a CNS system interacting with an RTGS system it is important to provide in PART data the correct account information for end of day settlement and possible intraday liquidity swaps For each account in CNS system having possibility of liquidity swaps the source system and source account of liquidity must be defined Similarly account on which the end of day settlement is performed has to be defined for each CNS account with this feature The ENDCNSO1 algorithm performs the end of day settlement bookings These may violate the liquidity restrictions in the RTGS system so the user can select an option that writes violations to an output table One way of avoiding violations is to use debit caps and reservations to keep the positions within acceptable limits If there is a partly or complete net settlement during or at the end of the settlement cycle the type of net settlement algorithm should be specified Only those algorithms that are strictly necessary to describe the desired processing logic should be included in system definition Before performing large scale
23. egt System comparison Generate stochastic data Delete data sets Delete output data Export input file Export output file BoF PSS2 User Manual 127 6 2 Initial specifications BoF PSS version 2 4 0j12b 2009 07 17 Java VM Sun Microsystems Inc 1 6 0 11 b03 Licensee Bank of Finland Distribots 9 Create new project Project Modify old project DNB test Databases The simulator will create a new input and output database for each project in the indicated default directory The user can change directory and also CBoF PSSUP_Project1 i Project Output database C BoF PSS2 P_Projecti o_Project1 Default directories ann ntinmen tha nnd ainn snn anmman The simulator will use indicated default directories for the different file types Each project is assumed to have its own default directories The user Default directory for input files C BoF PSSXP_Project1 INPUT Default directory for error list C BoF PSS2 P Project ERRORLIST Default directory for output files C BoF PSSUP_Project1 OUTPUT Default directory for output reports ic BoF PSS2 P_Projectl OUTPUT_REPORTS Save project modification User module definition Project Testing User module name User module file User module type SUB v RTGS Parameters Checking rules Positive numeric Add parameter E
24. in QUB QBBYPAFI one the queue cannot be settled it is bypassed and payments lower in the queue are tested for settlement in priority or FIFO order until no more settlable transactions can be found Supports Credit cap limits starting from version 3 1 0 Releases transactions from bilateral waiting queues when bilateral limits are increased and pon arrival of transactions from the counterparty in the order defined by user defined fields 1and 2 T USERCODI 2 in ascending order and the first code has the ighest priority This facilitates free definition QBUSEDEF one of queue order by moving the right data to the ser code fields e g the size of transactions ote that the User code fields are of type VARCHAR 12 in order to carry all kind of data and thereby sorted in alphabetic ascending order which means that numeric values need to be same length in order to be sorted correctly Supports Credit cap limits starting from version BoF PSS2 User Manual 88 Type Name Parameters Description Se Releases transactions from bilateral waiting queues when bilateral limits are increased and arrival of transactions from the counterparty in the order defined by user defined fields land 2 by using the bypass option T USERCODI 2 in ascending order and the first code has the highest priority This facilitates free definition of queue order by moving the right data to the user code fields e g the size of tran
25. in the system control data specification window when bilateral limits in use is selected Bilateral algorithms are available for RTGS and CNS systems The behavioural rules related to bilateral limits are algorithm specific and thus the exact specific behavioural details for each algorithm must be checked from the algorithm specific descriptions One example BoF PSS2 User Manual 103 of such rules is the special treatment of high priority payments Some examples of bilateral processing alternatives and algorithm combinations are given below Description of setup _ Sub alg Comments 1 Straight forward ENBILIM QBFIFOPR Transactions are settled in FIFO order RTGS processing with ENDRBILI when sufficient liquidity is available bilateral limits SEBILIM1 Besides normal tests for available Bilateral limits given in liquidity transactions have to pass BLIM dataset bilateral limit tests 2 CNS processing with ENBILIM 5 QBUSEDEF Transactions are settled in user defined user defined queue ENDRBIL1 order i e ascending by user defined order and bilateral SEBILIMI input fields 1 and 2 Transactions with limits High priority high priority i e smaller than given transactions bypass parameter 5 are settled whenever bilateral checks liquidity is sufficient Others have to also pass the bilateral limit tests Note same algorithms apply in CNS as in RTGS 4 2 Algorithms for special cases This chapter contains descri
26. is an eigenvector based algorithm The score for a given vertex may be thought of as the fraction of time spent visiting that vertex measured over all time in a random walk over the vertices following outgoing edges from each vertex PageRank modifies this random walk by adding to the model a probability specified to empty field next to Pagerank of jumping to any vertex If alpha is 0 this is equivalent to the eigenvector centrality algorithm if alpha is 1 all vertices will receive the same score the inverse of the number of vertices in the network Thus alpha acts as a sort of score smoothing parameter 3 12 4 Generate stochastic data The simulator supports automatic generation of transaction and participant data Logic for data generation can be implemented as algorithms with algorithm type DGA Data generation algorithm Own DGA algorithms can be included through user module definition screen In version 2 4 0 however no such built in DGA algorithm is yet included 3 13 Operating the simulator via command line The command line interface CLI of the simulator can be used to configure and run simulations without starting the graphical user interface It is useful when large number of similar tasks needs to be performed Example of such situation BoF PSS2 User Manual 81 could be repetition of a certain simulation for hundreds of times with different data sets With the CLI it is also possible to use the BoF PSS2 via ot
27. module interface etaed dieses 110 4 5 1 Adding a user module eret tree ier eee 111 5 Data content and 2 112 Sol Ele directory lave ecu Ps 112 9 2 About MYSQL 113 5 2 1 MySQL Query BEOWSGI s 114 3 2 2 MYODBC 1nt tfaCe 115 5 2 3 Direct modifications of simulator database 115 BoF PSS2 User Manual 2 5 37 Databases esto eee ve pe tele 116 5 3 1 Database ienn oq pridie nt taeda Prendas 118 5 3 2 Database eee iate qusdte dd 119 5 3 3 Database table repairs se re eet eae eunt 122 ID ALAS ELS vel fabio 122 2 9 Date tormata deos ert tuendum Re eM ut IUE DE ca due 123 2 6 PUG FORMAL sos esc ori tuba ond oH C LaL 124 5 7 Time transposition functionality sesseseeeeeeeeeeen 124 5 8 File template P 125 390 SSI CHOM CLIC de Soa CR e E E b C 126 5 10 About using Microsoft Excel with the simulator 126 6 Application SCREENS E 127 6 1 Man MMU P Gans avatar 127 6 2 Initidl SPE CUICAIOMS ie eas sacle ace eaten eee 128 0 3 User mod le eM ION c co E R E 128 6 4 System control data specification modification
28. non fatal cases e g credit line for dates outside the transaction dates the results statistics will be incorrect and unpredictable Other irregularities may also occur because the cross check has been designed to find these kinds of errors 3 10 5 Errors in simulations On the Simulation execution screen View errors arising in the simulations by clicking the View error report button The error list file is located in the error list directory of the project It is named SimulationExecutionError date time txt date in format yymmdd and time in format hhmmss for example SimulationExecutionError 090407 121030 csv Unnecessary error lists should be deleted BoF PSS2 User Manual 65 3 10 6 Viewing simulations logs You can view simulation logs by pressing View simulation logs button on the Main menu Logs of all run simulations may be viewed by accessing the View simulation logs screen The log will indicate when each simulation ID was executed most recently and what output tables were selected to be stored in this execution In the last columns of the table you can find the number and values of settled transactions When a given simulation ID is executed again or reused the information stored in simulation log will be overwritten The logs can be sorted to desired order by clicking on the column headings An arrow indicates the sorting order ascending or descending By clicking on the same heading once more the sorting order w
29. off Bj Restore defaults Advanced settings Troubleshoot my network See also Action Center Network and Sharing Center Help protect your computer with Windows Firewall Windows Firewall can help prevent hackers or malicious software from gaining access to your computer through the Internet or a network How does a firewall help protect my computer What are network locations Update your Firewall settings Windows Firewall is not using the recommended settings to protect your computer What are the recommended settings g 5 mne 9 Public networks Networks in public places such as airports or coffee shops Windows Firewall state Incoming connections Active public networks Notification state Off Block all connections to programs that are not on the list of allowed programs None Notify me when Windows Firewall blocks a new program 15 Select advanced settings Action View s en Li CyberLink PowerDVD DX Resident Program Platform SE binary Java TM Platform SE binary Microsoft Office Outlook Microsoft OneNote Microsoft OneNote Microsoft SharePoint Workspace Microsoft SharePoint Workspace branchcache Content Retrieval HTTP In Branchcache Hosted Cache Server HTTP In branchcache Peer Discovery WSD In connect to a Network Projector TCP In connect to a Network Pr
30. on the same scale if submission order is critical Because transaction ID s must be unique simulation wide you should use smaller IDs for more important systems as these IDs will be the final determining factor Examples of algorithm combinations in DNS systems 1 Full ENBASICI MNSETTLD Transactions are netted with full all or multilateral ENDDNSOI nothing multilateral netting at end of netting at given the settlement cycle Occasions 2 Partial netting PNFIFOPD Transactions are settled in FIFO order at given occasions ENDDNSOI within the given debit caps liquidity using partial net settlement Define the desired DNS system structure by combining the available algorithms or user developed modules These are basically net settlement algorithms in DNS systems DNS systems can also include splitting and injection features Queue release algorithms should not be invoked Typical simulations regarding DNS are dividing the process into more settlement cycles and checking the effects on liquidity and speed This is preferably done by dividing the transaction input data in separate slots e g by using the export input data by selecting the time slots according to settlement cycles Each settlement cycle can then be run separately resulting in complete statistics for each cycle BoF PSS2 User Manual 99 In simulations where a DNS system is cooperating with an RTGS system it is important to provide the correct ac
31. or the memory parameter values are too large for other reasons the simulator start up is cancelled and error message is displayed in the start up window saying Could not reserve enough space for object heap In this situation the Xmx parameter in the file BoF PSS2 PROGRAM Start up bat must be changed to a smaller value The currently used 32 bit Java Runtime Environment version 1 7 since BoF PSS2 v3 2 1 is capable of using a maximum of 1 7 GB of memory This restriction is imposed by the limitations of the 32 bit memory address space and operating system architecture 64 bit hardware operating systems and Java Runtime Environment allow a considerable increase so that the limit of the maximum memory will more likely be restricted by the hardware and the amount of memory on the computer MySQL MariaDB start up parameters Parameters for controlling MySQL MariaDB database performance are given in configuration file c my cnf Four versions of configuration files are included with the simulator for different hardware configurations These configuration files are BoF PSS2 User Manual 38 located at C Bof PSS2 PROGRAM The installation program selects automatically one of these files to be used and copies it to my cnf according to the amount of main memory in the PC or server If a c my cnf file has been created already earlier it is renamed to my_old cnf Selection rules are the following 1 MySim 256M cnf if the PC has 256MB or l
32. settle as many secondary queue transactions in FIFO order up to the aggregate amount of surplus received during the given 30 minute interval This is not an end of period settlement but payments can be released from the receipt reactive queue all time during the period so long as the net received balance is non negative After the end of the period in our example 30 minutes the net received balance is set to zero and the process begins again When the secondary queue closes by the end of the period the EOD process will determine how unsettled transactions are treated When value of EOD parameter is gross the transactions from secondary queue are moved to primary queue with the NewPriority value and parameter value return will discard the transactions For example if OPEN is defined as 10 15 00 CLOSE as 15 30 00 and the period as 30 minutes the receipt reactive calculation periods will be 10 15 10 44 59 10 45 00 11 14 59 15 15 00 15 30 00 BoF PSS2 User Manual 106 Balance Release ofiqueued Receipt of payment messages Payment E bank i s balance Release of queued pe i payment messag s i Receipt of i RTGS payments payment made by bank i im Open Period 1 Period 2 Close Time Figure 1 Dynamics of participant balance under receipt reactive settlement 4 2 2 Group codes for DVP linking multiple transactions Normal link codes are used to connect exactly t
33. simulations it is wise to validate the created model by testing the process with simple examples with only few transactions so that the correct outcome for the input can be verified from the output Note that there is no checking logic in the simulator to assess whether the selected algorithm combination is rational The user is responsible for selecting appropriate algorithms among those applicable for CNS simulations 4 1 3 Algorithms in DNS systems Deferred Net Settlement DNS systems settle transactions in batches at given settlement occasions Participants hold settlement accounts Although the DNS system uses batch settlement the simulator process resembles the RTGS and CNS processes to the extent that each transaction is processed in real time according to its submission time and is queued until the next settlement occasion This approach makes it possible to track the accumulation of credit risks when the transactions are processed by participant and delivered as final to end customers The DNS processing also reports the queuing time Transactions are booked in DNS systems when sufficient liquidity is available i e the settlement accounts have a positive value or the debit cap credit limit for the accounts has not been exceeded Otherwise transactions are transferred to the next settlement occasion or discarded No queue release algorithms should be assigned for DNS systems as this makes the system work in continuous mode DNS syste
34. statistics report radio button Select a system ID from the drop down list Click the Save in csv file or Save and open csv file button Both actions will save the report as a CSV file the Save and open csv file will open the file in Excel The report contains following columns Col Detailed name Description 1 Simulation date Date of simulation format Y YY YMMDD 2 System ID ID of system 3 Participant ID ID of participant 4 Account ID ID of account 5 Receiving in system ID of receiving system 6 Receiving participant ID of receiving participant MULTILIMIT indicates multilateral limit 7 Receiving account ID of receiving account 8 Value submitted The bilateral volume submitted 9 Value settled The bilateral volume settled 10 Value unsettled The bilateral volume unsettled 11 Value received The bilateral volume received 12 Number submitted The bilateral number of submitted transactions 13 Number settled The bilateral number of settled transactions 14 Number unsettled The bilateral number of unsettled transactions 15 Number received The bilateral number of received transactions 16 End of day balance The day s ending bilateral balance a sending surplus is a negative balance 17 Average limit during the day Average limit during the day calculated from the BLIM table 18 Minimum limit Minimum limit during the day calculated from the BLIM table 19 Maximu
35. system database with no projects defined will require that you specify a first project The project information defines the location of databases and reports see 3 3 for details After stating a name for the project e g example1 click on the file fields and the default values will appear Save the project information by clicking on the save project modification button Return to the main menu and your simulator installation is completed 2 6 Starting and closing database server The MySQL MariaDB database monitor has to be up and running before launching the simulator This simulator s startup bat sequence automatically launches and closes MySQL MariaDB If the simulator was installed with MS SQL SERVER the rows for starting databases are left out from the bat files MS SQL SERVER runs as a service on the background and thus will not need to be started separately unless it has been explicitly shut when it would have to be started manually from Control Panel gt System and Security gt Administrative Tools gt Services If you experience problems at these phase it might be due to a missconfiguration Normally the simulator s installation program will configure the necessary bat and cnf files autoamtically But you might want to check this If you installed the MySQL or MariaDB for example in c MyDB the files should look like in the following examples the C my cnf file should include the following lines mysqld
36. table 1 TRANSAID Transaction ID 2 TJ INTRDATE Introduction date 3 T INTRTIME Introduction time 4 i T TRANVALU Transaction value When you create input data in a CSV file consider the following Make sure that the data and decimal delimiters are specified correctly Values of currency can only be stated to two places after the decimal point data rows in the CSV file should have the same number of data fields and the input template defines how these correspond to the input data base of the simulator Transaction ID in TRAN tables can be numeric or alphabetical they are sorted alphabetically The transaction ID must be unique as it is a sorting parameter to distinguish between transactions that otherwise would occur in the same order It is also used as a key when reporting input errors If you use numeric values use a sufficiently large first number e g 10001 for transaction files involving ten thousand transactions to assure successful alphabetic sorting When the simulation contains more than one system and interlinked transactions the TRAN data of a given system must hold all debit transactions FROM transactions of that system The simulator operates on credit transfer basis so intersystem transactions can only be made as credits to another system i e all direct debit type of transactions in real systems must be converted to credit transfers in the simulator When DVP PVP transactions are in
37. than it has received is equivalent to a negative value of the bilateral balance Thus a negative limit value defines a situation where a higher value of payments is allowed to be sent to a given participant than is received The opposite case a positive bilateral limit means that participant A requires that a certain value of payments has arrived from participant B before it settles any outgoing payments to B The constraint can be formulated the following for given moment T bilateral balance T Sg4 T S4g T debit cap T where Sy t denotes the cumulative value of settled payments from participant X toward participant Y starting from beginning of day until the time t BoF PSS2 User Manual 101 A bilateral credit cap defines similarly the upper limit for the bilateral balance between A and B Thus if A sets a credit cap against B the incoming payments from B to A are blocked if they lead to an increase of A s bilateral balance over the given credit cap The constraint takes the following form bilateral balance T Sg4 T S4g T lt credit cap T The calculation of bilateral balance starts from zero from the beginning of each simulated day or from the moment when first bilateral limit is defined to the given pair of participants Thus bilateral positions are followed only for those participant pairs where some constraints are also in place No balances are transferred to next day in multiday simulations
38. the installation or click Back if you wantto review or change any settings Destination location CABoF PSS2 Start Menu folder BoF PSS2 Additional tasks Additional icons Create a desktop icon 10 Wait for the files to be copied 18 Setup BoF PSS2 Installing Please wait while Setup installs BoF PSS2 on your computer Extracting files C BoF PSS2 PROGRAM JRE 1 6 bin jp2native dll BoF PSS2 User Manual 33 11 Select the database server that you wish to use with BoF PSS2 simulator and that you previously installed The choice will affect the properties file located at C BoF PSS2 PROGRAM DBConnectors BoF PSS2_DB properties The properties file will by default specify Drizzle connector for MySQL and MariaDB and Microsoft JDBCA connector for MS SQL See also 2 8 Changing the database connector on page 40 If you select MS SQL Server go to step 13 after clicking Next Otherwise continue to step 12 Database engine selection cy Pick the database server that you wish to use with BoF PSS2 C MySQL recommended MariaBD MS SQL Server 12 In case MySQL or MariaDB was selected BoF PSS2 will need to know where its start up files and databases are located Specify the location of your database server base and data folder If you installed to C MySQL or C Program Files MySQL the fields should be filled automatically Then click Next I
39. the next transaction to be submitted for processing The system event handler algorithms SEH can be used to bypass the default event handling logics related to events end of day introduction of new transaction limit changes Transaction expiry occurring during a simulation Entry algorithms ENT make the initial processing of each transaction Settlement algorithms SET call specified subalgorithms to settle queued transactions The SET algorithms self do not contain any logic to release payments End of day algorithms END process the final steps during a day or settlement cycle Time estimation algorithms TEA are used to estimate the real time used for specific process For example a TEA algorithm can be used to induce a more realistic delay due to the processing of a settlement algorithm TEA 1s also needed to simulate parallel processing of algorithms To be able to use a TEA algorithm the parent algorithm must support TEA estimation The submission algorithm is only available at the simulation level For every simulation a submission algorithm must be selected Its task is to determine which transaction is the next to be processed from all pending transactions in all systems All other algorithms are specified at system level The submission algorithm can be thought of as the process in which the bank decides which is the next transaction to submit for processing to any of the systems in the simulati
40. time parameter defines when the release code is applied Calls specified subalgorithms to settle queued SET SEBASICI one payments It is invoked each time a new transaction is put into queues or liquidity has BoF PSS2 User Manual 86 Type Name Parameters Description been transferred to an account with queued transactions SETDUALI one Priority code 0 9 QUFIFOPR one QUUSEDEF one QUUSEDBP one Used in simulations with secondary receipt reactive queue See ch 4 2 1 for more details to call sub algorithms for settling payments in queues It is invoked each time a new transaction is put into queues or liquidity has been transferred to an account with queued transactions or the normal primary RTGS queue all normal sub algorithms are available QU2 algorithm is sed to release payments from the secondary queue Calls specified subalgorithms to settle queued payments It is invoked each time a new transaction is put into queues or liquidity has been transferred to an account with queued transactions It invokes specified sub algorithms Urgent transactions higher than the specified priority will be processed without regarding bilateral limits while the other transactions should fulfil limit requirements Only bilateral offsetting algorithms for bilateral queues BBS are used for settling transactions in bilateral queues AII other algorithms are available for normal transactions Releases individual
41. when sufficient liquidity is available Note Bilateral offsetting can cause bypasses in strict system level priority FIFO order of transactions As in 4 plus full multilateral netting is attempted at a given interval e g every 10 minutes As in 2 but large transactions are split into smaller ones to better circulate liquidity As in 2 but all unsettlable transactions are split based on available liquidity This algorithm gives the benchmark for maximal liquidity employment difficult to implement in practice The desired RTGS system structure is defined by combining the various available standard algorithms or user developed modules In most cases the SEBASICI will be invoked in addition to the mandatory ENDRTGS1 and ENBASICI or ENFORURG A queue release algorithm e g QUFIFOPR is also often used in RTGS simulations because most RTGS systems contain queuing possibilities Only those algorithms that are strictly necessary to describe the desired processing logic should be included in system definition Before performing large BoF PSS2 User Manual 95 scale simulations it is wise to validate the created model by testing the process with simple examples with only few transactions so that the correct outcome for the input can be verified from the output Note that there is no checking logic in the simulator to assess whether the selected algorithm combination is rational The user is responsible for selectin
42. 43 KB B My Computer 2 5 3 2 Database tables INPUT DATABASE SYCD System control data Contains system control data for a specific system for example system ID name type and open hours PART Participant data Contains participant data for a given system Participants can be distinguished at two levels The participant ID can be 11 characters long and can contain e g a SWIFT BIC address The account ID can be 34 characters long and can contain an IBAN Both fields can also be used for other identifiers e g in securities settlement systems the account ID could be the ISIN code The participant ID is mandatory The account ID can be omitted in which case it appears as empty i e contains the value DBAL Daily balances data Contains daily opening balances for the participants in the PART table BoF PSS2 User Manual 119 ICCL Intraday credit limits data Contains information of original values and changes in intraday credit limits for participants specified in the PART table TRAN Transaction data Contains transaction data sets for participants set in the PART table related to one system or many systems when multiple systems are simulated BLIM Bilateral limits data Contains information of the original value and changes of bilateral limit values for given pairs of participants or accounts specified in PART table BLIM table can also be used to define multilateral limits i e limits for transactions between one particip
43. BoF PSS2 User Manual 36 basedir D MyDB datadir D MyDB data C BOF PSS2 PROGRA M Database bat echo off title MySQL echo on C MyDB bin mysqld nt defaults file c my cnf console exit C BOF PSS2 PROGRAM Database_shutdown bat echo off C MyDB bin mysqladmin exe u root shutdown exit Starting MySQL MariaDB independently MySQL MariaDB are versatile database servers You can find information about them at www mysql com and mariadb org MySQL databases created by the simulator can also be accessed directly for exporting or importing data or performing minor changes in the databases e g delete unnecessary templates projects or system names Caution however is needed when making direct modifications Direct usage of MySQL is described in more detail in 5 2 2 7 Run time performance and start up parameters Run time performance of the simulator is largely dependent on the amount of memory available for the simulator MySQL MariaDB database and the operating system In large simulations insufficient or badly allocated memory leads to paging where hard disk is used as an extension for main memory The memory allocations for simulations are controlled with two parameter files one for the simulator and one for MySQL MariaDB database If you experience lengthy run times or make changes to hardware configuration of your simulator PC you might want to change these configurations to see if there is some positive impac
44. Cancel button on the Wizard page Clicking the Back button brings you back to the previous page Installation steps of the BoF PSS2 simulator Download the encrypted installation file delivery exe to a folder of your choosing for example the Desktop or My Documents Address of the download page is provided by Bank of Finland after you have ordered the simulator Double click on the exe file you downloaded Input the password you received from the Bank of Finland The installation file will be extracted and stored in the same folder 3 Double click extracted exe file The installation program starts 4 Click on the Next button The license agreement appears j3 Setup BoF PSS2 f Welcome to the BoF PSS2 Setup Wizard This will install BoF PSS2 2 4 0 on your computer Note that if MySQL configuration file c my cnfis present setup program will move itto file c old_my cnf Please make sure there is no old_my cnf before proceeding with installation Itis recommended that you close all other applications before continuing Click Nextto continue or Cancel to exit Setup i Cancel J 5 You have to accept the license before continuing the installation If you can t accept the installation will be cancelled Read the text select I accept the agreement and click then on the Next button BoF PSS2 User Manual 30 Setup BoF PSS2 License Agreement Please re
45. EOTETUNS 59 3 9 1 Creating a new simulation ID eene 59 3 9 2 Modifying an old simulation ID 00 0 ee 60 3 9 3 Cross checking data sets ise tese sutecdantaavatecsve 61 BoF PSS2 User Manual 1 3 9 4 Creating multi system simulations eene 62 3 10 Executing smillatiQtis 63 3 10 1 Creating a new simulation batch eese 63 3 10 2 Modifying an old simulation batch se 64 3 10 3 Executing and stopping simulations eese 64 3 10 4 Skip execute cross c ie e d is 65 3 10 5 Errors in simulations od eoe seio Greeti es 65 3 10 6 Viewing simulations logs seen 66 3 TT Analysing NEN ACER a iisa eieaa 66 3 11 1 System statistics 67 3 11 2 Account statistics FEpOPISd 68 3 11 3 Bilateral limits statistics report essen 68 3 11 4 System time series reports 70 3 11 5 Account time series reports 71 3 11 6 Bilateral limits time series 72 3 11 7 Creating a new comparison view at the system level 73 3 11 8 Modifying an old comparison view at the system level 13 3 11 9 Creating new comparison view at the account level 74 3 11 10 Modifyi
46. ER org drizzle jdbc DrizzleDriver DB URL jdbc drizzle localhost If you are eligible to use GPL software you can download a GPL MySQL connector from http dev mysql com downloads connector j Similarly if you have a commercial license for the MySQL connector you can use your licensed connector Copy the corresponding driver file e g mysgl connector java 5 1 21 binjar mysql connector java commercial 5 1 7 bin jar to CABoF PSS2 PROGRAM DBConnectors Then in BoF PSS2 DB properties file located in the same folder comment the default connector lines using and define the new connector according to the lines below If your connector file is mysql connector java 5 1 21 bin jar DBConnectorFile2mysgl connector java 5 1 21 bin jar JDBC DRIVER com mysgl jdbc Driver DB URL jdbc mysql localhost or if your connector file is mysgl connector java commercial 5 1 7 bin jar DBConnectorFile2mysgl connector java commercial 5 1 7 bin jar JDBC DRIVER com mysgl jdbc Driver DB URL jdbc mysql localhost In practice during the testing of the simulation we have observed no difference in using different connectors However the BoF PSS2 now includes the possibility to use any JDBC connector In particular DrizzleJDBC and the GPL commercial MySQL connector are known to work with BoF PSS2 BoF PSS2 User Manual 40 If you chose to use the MS SQL Server you will have to install a JDBC driver for MS SQL Server We recommend to use MIC
47. Edge type _ Directed Vertex size normalization constant Vertex size Vertex labels Vett crae gt Network Statistics Aggregation period Direction of analysis gt Inward Outward lt gt Undirected Day Edge weights None Gross value Net value Week Barycenter _ Clustering coeffident Neighbors Throughput 0 10 Month Betweenness Eigenvector Out degree Outfiow Closeness Eccentridty Reciprocity Pagerank 0 10 _ Connectivity In ree Inflow ae ee ouput Eck to main menua S77 7m BoF PSS2 User Manual 135 7 Technical documentation The following documents on BoF PSS2 are available via the internet site http www bof fi sc bof pss This user manual Simulator presentation and basic information Database and file descriptions BoF PSS2 Command Line Interface User Manual Algorithm descriptions and user module development guide Example data sets for different system setups and some correct output for these Step by step tutorial presenting the example 1 Javadoc documentation of the simulator application Source codes for the available algorithms 8 Troubleshooting guide This chapter is designed to help users to find and eliminate problems when employing the simulator It is a list of frequently encountered problems by the users This list will be updated based on user experiences Please send you experiences
48. I ENDCNSO1 SEBASIC1 ENBASICI ENDCNSO1 SEBASIC1 ENBASICI ENDCNSO1 SEBASIC1 ENBASICI ENDCNSO1 SEBASIC1 QUFIFOPR QUBYPAFHI QUFIFOPR BOBASICI QUFIFOPR BOBASICI MNSETTLI QUFIFOPR SPMVALUI QUFIFOPR SPAVLIQI QUFIFOPR INVALUEI Can be used with credit without limits to find the upper bound and lower bound of liquidity Transactions are queued when liquidity is insufficient for settlement they are released in FIFO and priority order as liquidity becomes available from incoming payments or extended credits Same as 2 except that the FIFO order is bypassed to settle payments lower in the queue for which enough liquidity is available Transactions are queued in FIFO order and settled also with bilateral offsetting when sufficient liquidity is available Note Bilateral offsetting can cause bypasses in strict system level priority FIFO order of transactions As in 4 plus full multilateral netting is attempted at a given interval e g every 10 minutes As in 2 but large transactions are split into smaller ones to better circulate liquidity As in 2 but all unsettlable transactions are split based on available liquidity This algorithm gives the benchmark for maximal liquidity employment difficult to implement in practice Transactions are queued and liquidity swaps are executed in both directions with an RTGS system when liquidity is needed or superfluous Define the
49. MvD 1KB MYD File 2C 2 2KB MYT File LC PS52_systemdb tran frm 10KB FRMFile fa USERMODULES an tran MYD 10580KB MYD File Pi 4 gt 4 18 object s Disk free space 533 MB 11 6 MB My Computer 2 BoF PSS2 User Manual 118 Here is an example of the output database structure X C BoF PSS2 P_PROJECT1 0_PROJECTI File Edit View Favorites Tools Help GQsearch Pyrolders History s GS X wa E Address DucweresszipPROxcCTHo PROxXCH e e Go Folders x Name Type if Desktop 2j 11KB FRM File g My Computer a acst MYD DKB MYD File S acst MYI 1KB MYIFile 29 3 Floppy A avst frm 9KB FRMFile E1 amp 3 Local Disk C 2 1 BoF pss2 iae avst MYD MYD File C EXAMPLES E avst MYI 1KB MYIFile MODULES baco frm FRMFile P PROJECT 1 ERRORLIST i PROJECT C INPUT baco MYD OKB MYD File 2 baco MYI 1KB MYIFile E bari frm 9KB FRM File bari MYD OKB MYD File amp bari MYI 1KB MYIFile 3 i 7 ourput_reports 2 best frm 10KB FRM File 7 TEMP ja best MYD OKB MYD File 2 best MvI 1KB MYIFile 91 2 PROGRAM E cest frm 9KB FRMFile PSS2 systemdb af USERMODULES gt ccst MYD OKB MYD File um DIY 4 wf 42 object s Disk free space 532 MB 1
50. ROSOFT JDBC DRIVER 4 0 FOR SQL SERVER The driver can be found from Microsoft s downloading center http www microsoft com en us download details aspx id 11774 The driver should be copied to c BOF PSS2 PROGRAM DBConnectors The installation program of the simulator configures the c BOF PSS2 PROGRAM DBConnectors BoF PSS2_DB properties file automatically to function with this driver if the corresponding selection was made during the installation Still it is good to check that the connection strirngs of the properties file do contain the same port user name and passwords that you defined for the MS SQL SERVER before The file should have the following rows active not preceded by DBConnectorFile sqljdbc4 jar JDBC_DRIVER com microsoft sqlserver jdbc SQLServerDriver DB URLzjdbc sglserver 127 0 0 1 1433 DB USERNAME sa depending on the defined user namewhen installing SQL Server DB PASSWORD If your securioty settings allowed you to let the password undefined else you should define the same password BoF PSS2 User Manual 41 3 Operating the BoF PSS2 simulator This chapter describes BoF PSS2 screens and how to use them 3 1 Short description of BoF PSS2 simulator use The simulation process is normally divided into distinct phases You begin by specifying the systems you want to simulate This includes stating the system name setting the open hours and selecting the processing logics and algorithms that are us
51. S system as the source of liquidity In the input data the liquidity injections from system and liquidity injections from participant fields are defined for each participant In the input data of this example the RTGS system is referred as M and the ancillary system is referred with K These names have to be used also as System IDs in the simulation In multi system simulations the cross check is checking also coherency of multi system transactions and used System IDs Mult system simulations are created in simulation configuration screen by including all necessary systems one by one on their own rows Screenshot from example 2 simulation configuration is shown below BoF PSS2 User Manual 62 Multi system example Main RTGS system M and ancillary CNS system Ksyst Mtran Mpart MDbal Ktran Kpart 3 10 Executing simulations You can execute simulations on the Simulation execution screen The screen opens by clicking the Simulation execution button on the Main menu Simulations can be executed as single runs or in batches consisting of many simulations 3 10 1 Creating a new simulation batch Simulations are executed in batches of one or more simulations Stored simulation batch information is convenient particularly when a large number of simulations need to be reprocessed Output data is also defined with this screen By creating and saving a simulation batch the selections made in this screen can be
52. The table below shows examples of possible CNS configurations using the various main and sub algorithms In all cases the submission algorithm SUFIFOPR submits payments in time priority and transaction ID order If there are transactions in single or several systems competing for the same time slot then the transaction with the highest priority is chosen If there are still several competing transactions then the transaction ID order becomes the determining factor All systems are treated equally so the priorities used in different systems should be on the same scale if submission order is critical Because transaction ID s must be unique simulation wide you should use smaller IDs for more important systems as these IDs will be the final determining factor BoF PSS2 User Manual 96 Some examples of possible logical algorithm combinations in CNS systems CNS description Sub alg 1 No queuing facility available transactions without liquidity will remain unsettled 2 FIFO queuing 3 Bypass FIFO queuing 4 FIFO queuing and bilateral offsetting 5 FIFO queuing bilateral offsetting and full multilateral netting at given intervals 6 FIFO queuing and splitting according to maximum value 7 FIFO queuing and splitting accord available liquidity 8 FIFO queuing with liquidity injections ENBASICI ENDCNSO1 ENBASICI ENDCNSO1 SEBASIC1 ENBASICI ENDCNSO1 SEBASIC1 ENBASICI ENDCNSO1 SEBASIC1 ENBASIC
53. Type ordinal numbers into the first column of the data table If you leave empty columns in the templates these will appear as two adjacent separators in the output file To use an old template click the Use old template radio button and select a template from the drop down list The selected template is shown in the first column of the data table 11 Type in selection criteria and select the parts of the table you want to export Selection criteria can be written for each data field 12 Click the Execute export button Data from the selected database table will be exported to the output file The number of rows appears in the Rows processed window To abort export while it is running click the Stop export button The selection criteria facilitates exports of subsets of the imported input tables eg in order to edit some of the data with Excel 3 9 Setting up simulation runs You can create a new simulation ID modify an old simulation ID or cross check data sets on the Simulation configuration screen The screen opens by clicking the Simulation configuration button on the Main menu 3 9 1 Creating a new simulation ID Each simulation must have a specific simulation ID of up to eight characters Use a consistent naming convention to avoid troubles On the Simulation configuration screen BoF PSS2 User Manual 59 1 Click the Create new simulation ID radio button and type in the simulation ID If you want to copy from an old
54. USER MANUAL Version 3 2 1 EUROJARJESTELMA 17 05 2013 EUROSYSTEMET PSS Bank of Finland PAYMENT AND SETTLEMENT SYSTEM SIMULATOR Contents Ll Introduction uen SEMI 4 Ll General OVERVIEW mca oerte age t ena 4 1 1 1 Input generation suDSVSEGHL Seed ein ved ane pegas 5 1 1 2 Simulation execution subsystem esee 6 1 1 3 Output analysing subsystem eeeeeeeeeeeeeenere 6 1 2 Supported system structures and simulation examples 6 2 Tnstallati n Mss D RN 9 2 1 Hardware and software requirements seen 9 2 2 Installing a database server se eene n setas 10 22 T Web Susi orto eed iecur Gi Eee 10 2 2 2 Installing Maria DB ict 15 2 2 3 Installing MS SQL Server 19 2 3 Installing BOP P552 toii tutes accedi MO uae 30 2 4 Running the simulator with Microsoft s SQL Server 39 2 5 Starting BoF PSS2 simulator rires heel ge eiii tes 35 2 6 Starting and closing database server sse 36 2 7 Run time performance and start up parameters 37 2 8 Changing the database cCOnDector ares eese eps 40 3 Operating the BoF PSS2 simulator e eee ecce esee eren een
55. a good idea BoF PSS2 User Manual 122 Data tables in the input database Daily Balances Credit limits Transactions Data sets in each table pm Data sets selected for one simulation Figure 3 5 5 Date format You can select any of the following date formats yyyymmdd ddmmyyyy mmddyyyy yyyy mm dd dd mm yyyy mm dd yyyy yyyy m d d m yyyy m d yyyy yymmdd ddmmyy mmddyy yy mm dd dd mm yy mm dd yy yy m d d m yy m d yy Where d day m month and y year a single d and m means that days and months are stated with one or two digits The dash separator only signifies the position of the separator in the input file The actual separator can be any character e g the dd mm yyyy format will correctly interpret May 15 2003 no matter if it is written as 15 03 2003 15 03 2003 or 15 03 2003 In export files the separator will always be a dash When using dates where the year is defined by two digits the simulator parses them so that 20 years from today are in the future and 80 years before now in the past For example in the year 2009 digits 09 29 would refer to the years 2009 2029 and digits 30 08 to the years 1930 2008 The internal data format in the input database is YYY YMMDD BoF PSS2 User Manual 123 5 6 Time format You can select from the following time formats hhmmss ssssss hh mm ss ssssss hhmmss sss hh mm ss sss hhmmss ss hh mm ss ss hhmmss s hh mm ss s Hhmmss hh mm ss Hhmm hh mm Where h ho
56. abase is shared by different projects e g the same input data is used both for a liquidity requirement and a systemic risk simulation project the user can specify other directory names Here caution is needed to ensure database integrity In some cases it may be convenient to store large databases on a network drive BoF PSS2 User Manual 117 FRM MYI and MYD files for each data table FRM MYI and MYD files for each data table Figure 2 5 3 1 Database structure An example of the input database structure is shown below In the right window FRM MYI and MYD table files appear CABoF PSS2AP PROJECT1 i PROJECTI Ele Edit Favorites Tools gt tg Qsearch Fyrolders Cd Histoy US GS X wa EH Address 71 C BoF P552 P_PROJECT1 i_PROJECT1 j eee Folders x Desktop S dbal frm 9KB FRMFile My Computer dbal MYD 1KB MYD File 88 29 3 Floppy S dbal MvI 2KB File Local Disk C 2 iccl frm 9KB FRM File EC BoF pss2 an iccl MYD 1KB MYD File F C EXAMPLES 2 icc Mv 2KB MYIFile MODULES 2 part Frm 9KB FRMFile gc jc P PROJECTI ai part MYD 1KB S part MYI 2KB MYIFile P It PEUT 2 salg frm 9KB FRM File ro e salg MYD 1KB MYD File ourpur S salg MYI 2KB MYI File C oureur REPORTS S sycd frm 9 FRM File 7 TEMP sycd
57. able and click the Delete button 5 Click the Save in CSV file or Save in CSV file and open button Both actions save the report as a CSV file the Save in CSV file and open action also opens the report in Excel 3 11 8 Modifying an old comparison view at the system level On the System comparison analyser screen 1 Select the Modify old comparison view radio button and select a comparison view Information about the selected comparison view is shown on the screen 2 Type in the name of the output file BoF PSS2 User Manual 73 3 To see the differences from the first selected simulation select the Show percentage or Show absolute check box or both 4 If desired change the comparison condition Adding Select a value from the drop down list and add it to the table by clicking the Add to comparison button Deleting Select the row to be deleted from the table and click the Delete button 5 Click the Save in CSV file or Save in CSV file and open button Both actions will save the report to a CSV file the Save in CSV file and open action also opens the file in Excel 3 11 9 Creating a new comparison view at the account level The account comparison view compares output data at the account level The list of comparable statistics includes all fields which are recorded in the account statistics output table ACST For detailed definitions of the individual indicators see the Description of BOF PSS databases and files docu
58. able in the potential algorithm window 7 Transfer balances to next day can be used in multi day simulations for transferring the end of day balances to become the beginning of day balances for the next day 8 If the simulated system includes bilateral limits the bilateral limits in use option has to be selected After this algorithms designed for handling bilateral limits will be available in step 11 of system definition See 4 1 5 Algorithms for systems with bilateral limits This selection only affects the visiblilty of the algorithms in the selection list BoF PSS2 User Manual 49 9 Intraday credit availability requires a choice between three options The selection Credits according to limit table requires an ICCL dataset containing the intraday credit limits to be defined No credits available indicates that only the liquidity on accounts is available This means that only a DBAL data set is needed The last option credit available without limits indicates that overdrafts are freely available This option can be used to find out the upper bound of liquidity Note that liquidity has to be provided in some form otherwise no transactions will settle 10 Handling of unsettled transactions has four options All unsettled transactions will be kept in a special queue for unsettled transactions until the end of day and the processing will be dependent on the selected option Transfer unsettled transactions to next day settlement occas
59. ack wet _ cae 8 Unselect Install As Windows Service and select Include Bin Directory in Windows PATH MySQL Server Instance Configuration Wizard MySQL Server Instance Configuration Configure the MySQL Server 5 0 server instance Please set the Windows options Install As Windows Service This is the recommended way t Check this option to include the directory containing the MEM server dient executables in the Windows PATH variable so they can be called from the command line a BoF PSS2 User Manual 14 9 Click next and execute and the setup of MySQL is finished If you have problems please consult the MySQL manual at http dev mysql com doc refman 5 0 en index html 2 2 2 Installing MariaDB MariaDB database server offers a drop in replacement functionality for MySQL It is built by some of the original authors of MySQL together with assistance of free and open source software developers MariaDB versions 5 2 and 5 3 both 32bit and 64bit are expected to work equally well as the commercial MySQL software Note that MariaDB version 5 5 does not yet work properly with current release of BoF PSS2 Installation steps of the MariaDB database server 1 Download the MariaDB installation utility corresponding to your operation system from http downloads mariadb org mariadb 5 3 For 32 bit Windows the file name is of the format mariadb 5 3 7 win32 msi and for 64 b
60. ad the following important information before continuing Please read the following License Agreement You must accept the terms of this agreement before continuing with the installation THIS AGREEMENT SETS FORTH THE TERMS AND CONDITIONS UNDER WHICH THE BANK OF FINLAND THE LICENSOR GRANTS TO THE LICENSEE A La PERSONAL NON EXCLUSIVE AND NON TRANSFERABLE LICENSE TO USE THE SOFTWARE AND RELATED DOCUMENTATION PLEASE REVIEW THE FOLLOWING TERMS AND CONDITIONS CAREFULLY BEFORE ACCEPTING THIS LICENSE BY DOWNLOADING THIS SOFTWARE YOU INDICATE YOUR ACCEPTANCE OF SUCH TERMS AND CONDITIONS UNLESS YOU ACCEPT THESE TERMS DO NOT DOWNLOAD THE SOFTWARE 1 DEFINITIONS Software means the software program s downloaded The Agreement means this Software License Agreement The Licensor means the Bank of Finland The License M ei Ol do not accept the agreement 6 Select the directory where the program will be installed It is advisable to use the default directory Click on the Next button 18 Setup BoF PSS2 Select Destination Location Where should BoF PSS2 be installed 2 Setup will install BoF PSS2 into the following folder To continue click Next If you would like to select a different folder click Browse cisressd Atleast 109 4 MB offree disk space is required 7 Don t change the default value if you want the Setup to create a folder for the simu
61. alues of settled transactions during the day 6 Value unsettl Sum of the transaction values of the unsettled transactions during the day 7 Number sett Count of the settled transactions 8 Number unsettl Count of the unsettled transactions Note that there might be some empty fields in the system statistics when the data tables required for calculations have not been saved Note also that in multi currency simulations the account data will be added together on system level although these might be in different currencies The information can then only be used to check that the total turnover is technically correct BoF PSS2 User Manual 67 3 11 2 Account statistics reports The account statistics report contains the basic statistics at account level for a specified system For multiple day simulations account statistics are presented for each day in ascending order Pia Ao In the Basic statistics reports screen Select a simulation from the drop down list Type in the name of the output file use a consistent naming convention Select the Account statistics report radio button Select a system ID from the drop down list Click the Save in csv file or Save and open csv file button Both actions will save the report as a CSV file the Save and open csv file will open the file in Excel The report contains following columns Col Name Description 1 date Dat
62. ant and all the others in simulated system RSRV Reservations table This table is included in database of version 2 4 for future use Yet no functionalities are implemented which would use this table SALG System algorithms This table contains the algorithm definitions for the different systems OUTPUT DATABASE SYLS System level statistics Contains system level statistics of simulation runs ACST Account level statistics Contains the general statistics per participant or account for a given day TEST Transaction event statistics Contains the general statistics for actual transaction events for specific simulation runs NEST Netting event statistics Contains information of netting events in specific simulation runs This is an algorithm specific feature and will depend on the algorithm The algorithm must support this function to enable the recording of this statistic AVST Account violation statistics Contains information of account violations in simulation runs BEST Booking event statistics Contains information of bookings in simulation runs BoF PSS2 User Manual 120 UNST Unsettled transactions statistics Contains information about transactions that remained unsettled in simulations SUST Submitted transactions statistics Can be used to follow a user made submission algorithm output it however duplicates transaction statistics QUST Queued transactions statistics Contains general information of queued transactio
63. articipants but different processing patterns or methods The system control data specifications contain the basic system information for each system to be simulated 3 4 1 Creating a new system data set On the System control data specification modification screen 1 Select correct system ID for the new system data set from drop down list If the desired system ID is not available click Create new system ID radio button and type in the system ID It is recommended to use the name of the real system under study as the system ID 2 Click the Create new system data set radio button and type in the name of the data set 3 If you want to copy from an old system data set click Copy from old system data set button When you select a system data set from the drop down list information of the data set appears in the system data fields You can change this information Delete old algorithms and introduce new algorithms or change their parameter values 4 System full name system acronym and system description are optional information 5 Opening and closing hours are mandatory The cross check function is checking that the input data is within these limits The values of open and closing hours must be between 00 00 and 24 00 If the simulated system is open over midnight time transposition can be used See chapter 5 7 Time transposition functionality 6 System type RTGS CNS or DNS is mandatory and directs which algorithms will be avail
64. ated networks The user is directed to Initial specifications screen the first time the program is run in order to establish the first project This project becomes the default project until new projects are defined This will be prompted automatically during the first session Read more on projects below 3 2 1 Project Select a project from the drop down list on the main menu The default project is the last selected project The simulator uses the definitions of the selected project until you select a new project see 3 3 A project can be changed only from the main menu Projects separate the input and output data of different simulation projects e g RTGS simulations from CNS simulations allowing the same input data and the input database to be used Generally it is advisable to use the default directory layout 3 2 2 Main menu buttons The main menu provides access to sub functions The user must follow a logical order in the simulation process First load the necessary input data then define the simulations to be executed and finally set the results to be analysed The process is often iterative which leads to new input data requirements and additional simulations BoF PSS2 User Manual 43 configuration simulation Simulation execution You can execute simulations View simulation logs You can view simulation logs Basic statistics reports You can view basic statistics reports of simulations Account comparison You
65. ating system also needs to be a 64 bit environment The BoF PSS2 simulator can process massive transaction flows effectively with adequate available main memory resources The complexity of the algorithms used and the selected output tables to be computed during the simulations strongly influence the running times and memory usage of simulations The BoF PSS2 simulator keeps all transactions and other input data to be processed during a simulation in the main memory The amount of transactions is the decisive factor in main memory use When there are more transactions than space in the main memory system performance is likely to degrade strongly due to necessary disk swaps Even then the simulator continues processing during such circumstances until the limit of 1 5 GB is achieved for the 32 bit version Software Windows XP Vista Windows 7 Microsoft Excel installed required to open reports from the user interface MySQL MariaDB MS SQL SERVER database server installed Sun Microsystem s Java Runtime Environment JRE 1 7 0_09 b05 distributed and installed with the BoF PSS2 program The BoF PSS2 program should work with limitations in Linux although this is yet to be tested Please contact the Bank of Finland if you are interested in running the software in a Linux environment BoF PSS2 User Manual 9 2 2 Installing a database server The BoF PSS2 program assumes that Microsoft Excel and either MySQL MariaDB or MSSQL Server are i
66. ation Rules Microsoft NET Framework 4 0 s Windows PowerShell 2 0 SEALE Microsoft Framework 3 5 Complete Microsoft Visual Studio Tools for Applicatio To be installed from media Microsoft Visual Studio 2010 Shell gt Select All Unselect All Shared feature directory JE Program Files Microsoft SQL sl Shared feature directory x86 Files 86 SQL Server E Back Next gt Help p A 7 Select all features and click next Li SQL Server 2012 Setup o x Instance Configuration Specify the name and instance ID for the instance of SQL Server Instance ID becomes part of the installation path Setup Support Rules Default instance Installation Type Named instance JMSSQLSERVER License Terms Feature Selection Installation Rules Instance ID JMSSQLSERVER Instance root directory c Program Files x86 Microsoft SQL Server Disk Space Requirements Server Configuration Database Engine Configuration SQL Server directory C Program Files x86 Microsoft SQL Server MSSQL11 MSSQLSERVER Reporting Services Configuration Reporting Services directory C Program Files x86 Microsoft SQL Server MSRS11 MSSQLSERVER Error Reporting Installation Configuration Rul Installed instances Instance ID Features j Version MSSQL11 MSSQLSER SQLEngine SQLEngin 11 0 2100 60 SSMS 11 0 2100 60 8 Sel
67. ation time but the input data and the output data will be converted from to actual timing To have a clear terminology simulation time data refers to the time in databases always within the 24 hours of a given day and actual day time refers to the input data and output report data which can stretch over to two consecutive days but is always in total within 24 hours BoF PSS2 User Manual 124 Time transposition value is inserted in the data format default window during import or export of data It has the format thhmm and can take values form 23 59 to 23 59 A positive value will increase the time information in all input time and date values A negative value will decrease all time values respectively For example a value of 0400 means that a transaction with actual values CSV file with transactions data of time 22 10 and day 20 2 2004 becomes 021000000 hhmmss000 on 20040221 YYYYMMDD in the TRAN table in the input database A negative value will convert the timing in the same way but to an earlier occasion Time transposition field in data format defaults functions in the same way as others decimal and data separators date format etc i e a selected value is in force on all screens until it is changed The default value for time day conversion is 00 00 Time transposition is applied to all imported time and date fields These include for example TRAN ICCL and BLIM data Processing of DBAL values differs from the other
68. base table the simulator won t start and in the start up window e g following error message can be presented Can t open file tablename MYT lt errno 144 gt This can be fixed by repair table command using e g MySQL Query Browser or in command line console if the previous is not available For console view run C BoF PSS Program Database bat and after that C mysql bin mysql exe This will start the database server and console view Assuming that input database table TRAN is corrupted in project examplel following commands are required use i examplel 4 Enter repair table tran Enter For more details see MySQL manual 5 4 Data sets One input database can store many data sets for each type of input data The different data sets are stored in the same physical database table and are distinguished by their data set ID The user defines the data set ID separately for each data table it has no internal database relation with any other data set ID of other database tables In the simulation execution phase the user defines which specific data sets are to be used in a specific simulation as described in the Figure 3 These are cross checked to see that the information is coherent e g all accounts or participants can be found for the transactions and all systems are specified the account or participant to which the transaction data refer To manage a large number of parallel data sets a consistent naming convention is
69. be exported with menu functions after right clicking the result set 5 2 2 MyODBC interface MyODBC driver is a standard interface which enables connections to MySQL database from most database and analysis software working on Microsoft Windows platform and using large data sets Examples of applications that can be connected are Access and SAS Information of the connector and download sites can be found on MySQL pages http www mysql com products connector After installing the MyODBC new data sources are defined from Windows control panel Administrative tools Data sources Own data source name needs to be defined for each database which is to be accessed from the third party software Special instructions related to use of MS Access with MyODBC are found also in MySQL reference manual http dev mysql com doc refman 5 0 en connector odbc examples tools with access html 5 2 3 Direct modifications of simulator database All features that a simulator user might want to have are not included in the simulators graphical user interface Some of these tasks can be performed by directly accessing the MySQL database These are mainly deletions of instances that can be created in the simulator but not removed if they turn out to be useless such as user modules or import templates Below are listed some possible maintenance tasks and how to perform them with Query Browser tool For assistance with Query browser see 5 2 1 or tuto
70. be settled in priority and FIFO order The period in minutes can be defined separately for each participant At the end of the period the remaining transactions in the secondary queue of that period can be moved up to the RTGS queue with their original priority or by giving them a new uniform priority or alternatively they can be discarded The entry algorithm ENTDUALI takes four parameters Limit 0 9 which defines the value of priority required for entering the normal RTGS process Transactions with a lower priority than the limit value are placed into the secondary queue Priority 0 9 defines the minimum value of priority for highly urgent payments Transactions with equal or higher priority are settled immediately even if they would violate any limit Open hhmmss defines when the secondary queue is opened All transactions entered before this point in time are treated as normal RTGS transactions Close hhmmss defines when the secondary queue is closed AII transactions entered after this point in time are treated as normal RTGS transactions The SET algorithm SETDUALI takes no parameters but can include a set of the normal RTGS sub algorithms such as QUBYPAFI see for example SEBASICI In addition one QU2 algorithm can be specified for releasing transactions from the secondary queue BoF PSS2 User Manual 105 The QU2 queue releasing algorithm QURRFIPR releases transactions from the secondary queue based on the p
71. chapter 3 5 1 9 Click the Update old data set radio button and select a data set from the drop down list Perform steps 10 13 as in creating a new data set in 3 5 1 12 Click the Execute import button 3 5 3 Inserting data in an old data set The inserting function provides the possibility to add rows into an existing data table defined by the data set ID Rows without matching keys are inserted into the BoF PSS2 User Manual 55 selected database table Matches are treated as errors and discarded the database content is not changed in these situations On the Import input file screen Perform steps 1 8 as if you were creating a new data set in 3 5 1 9 Click the Insert in old data set radio button and select a data set from the drop down list Perform steps 10 13 as if you were creating a new data set in 3 5 1 12 Click the Execute import button 3 5 4 Stopping import Lengthy import processing can be aborted In the Import input file screen To stop import while it is running click the Stop import button This is possible only with large files 3 5 5 Undoing import You may want to undo imports for example when a large number of errors are encountered In the Import input file screen Click the Undo import button The last import will be cancelled This possibility is only available as long as you stay on the Import input file screen 3 5 6 Errors in import On the Import inpu
72. cient liquidity is available Total net settlement implies that settlement is only performed in cases where all S IMNSETTLC None queues can be emptied partial multilateral settlement not accepted The algorithm is performed after each transaction queue entry so caution is needed with large transaction volumes MNs NSETTLD None Performs total net settlement of all queued BoF PSS2 User Manual 92 Type Name Parameters Description transactions in deferred net settlement systems DNS when sufficient liquidity is available Performs total net settlement of all queued transactions when sufficient liquidity is NS IMNSETTLI 12900 available at the given time interval during the Starting time hhmmss l day in minutes The starting time parameter defines when the first netting occasion occurs Performs total net settlement of all queued transactions when sufficient liquidity is available at the defined times 4 1 1 Algorithms for RTGS systems Real time Gross Settlement RTGS systems process transactions one by one in a real time environment using central bank accounts Each transaction is booked queued or discarded as defined by the algorithms set for the system The release of queued transactions is determined using various settlement algorithms The user specifies the processing patterns by selecting algorithms and assigning necessary parameters The main algorithms available for RTGS
73. cipant account at the end of corresponding period 7 Value submitted Aggregate value of all transactions submitted in the system during the period by this participant account 8 Value settled Aggregate value of all transactions settled in the system during the period by this participant account 9 Value in queue Aggregate value of all transactions of this participant that were in the queue during the period It does not matter for how long transactions stayed in the queue 10 Number submitted Number of transactions submitted in the system during the period by this participant account 11 Number settled Number of transactions settled in the system during the period by this participant account BoF PSS2 User Manual 71 12 Number in queue Number of transactions of this participant that were in the queue during the period It does not matter for how long transactions stayed in the queue 3 11 6 Bilateral limits time series report The bilateral limits time series report allows the user to derive statistics on the bilateral positions between a given participant and all others at given points of time as a time series The reporting interval is given in minutes This report will be available only for simulation IDs in which the bilateral limits in use selection has been selected in system definition In the Basic statistics reports screen 1 Select a simulation from the drop down list 2 Type in
74. count information for end of day settlement and possible intraday liquidity swaps The ENDDNSO1 algorithm will perform the end of day settlement bookings Note that these may violate the liquidity restrictions in the RTGS system Violations are written to AVST output table if this output form is selected in simulation configuration phase Note that there is no checking logic in the simulator to assess whether the selected algorithm combination is rational The user is responsible for selecting appropriate algorithms among those applicable for DNS simulations 4 1 4 Algorithms in DVP PVP processing systems In delivery versus payment and payment versus payment DVP PVP processing two transactions defined by the T LINKCODE and T_LINKSYST are linked together Booking of linked transactions can only be done when both legs are settlable DVP PVP transactions can be processed in separate dedicated DVP PVP systems or among normal one legged transactions in traditional systems DVP PVP transactions can also have their legs in different systems as defined by the T LINKSYST field See also chapter 4 2 2 Group codes for DVP linking multiple transactions Note that you always need to include a QUE algorithm for DVP processing because even if introduced at the same time the first transaction leg has always to wait in queue for the submission of the other transaction leg even if it might be the next transaction to be processed DVP PVP limits the use of th
75. d by the corresponding factor For example if there are three shortest paths from A to F say A gt B gt E A gt C gt E and A gt D gt E and one unique shortest path from G to H G gt B gt H then node B gets score 1 3333333 0 3333333 1 Connectivity L Number of links divided by number of other nodes BoF PSS2 User Manual 80 Clustering coefficient G Tells if the neighbours of this node tend to link with each other Eccentricity G Distance to farthest node Eigenvector G Eigenvector centrality Pagerank with parameter 0 In degree inflow L Number of links or value in the weighted case that come to this node Does not work for undirected networks Out degree outflow L Number of links or value in the weighted case that leaves this node Does not work for undirected networks Neighbors throughput L Number of neighbours connected to through directed or undirected vertices If same neighbour is connected both through in edge and out edge it is counted only once In the weighted case this is the summed value to this node plus the summed value from this node Reciprocity L How large proportion of this node s neighbours are linked via both incoming and outgoing links HITS G Assigns two scores a Hub score and an Authority score to each vertex based on whether they are good hubs or authorities Takes in a parameter between 0 and 1 similar to Pagerank see below Pagerank G PageRank
76. ded in the simulator for all output database tables for exporting all data fields The names of these templates are the table name followed by ALL e g TEST ALL Templates are updated when you change the information in them If you want to remove templates you have to modify the MySQL database directly For instructions see 5 2 35 2 3 5 9 Selection criteria Selection criteria can be used for exporting a given part of an input or export data table You can type selection limitations in rows corresponding to the variables fields in the database table If selection criteria are assigned to several variables each assignment limits the search i e it operates on an AND basis e g in transaction data table a selection T TRANVALUE 10000 and T FRPARTID ABCBANK selects those transactions over 10 000 in value and sent by ABCBANK If multiple criteria are given to the same variable these are separated by a semicolon The equal 2 function always operates on an OR basis e g T FRSYSTID POPS PMJ selects transactions from POPS or PMJ systems Similarly T TRANVALUE gt 10000 10000 exports the transactions equal or above 10 000 in value The larger than gt and smaller than signs also delimit the selection to values between these values 5 10 About using Microsoft Excel with the simulator Microsoft Excel is a handy tool for editing simulator data analysing simulation output and creating reports and graphs The follow
77. dified manually if necessary Information of the product and download sites can be found from MySQL pages http dev mysgl com downloads gui tools 5 0 html Query browser video tutorials are recommended as a quick start reference For example the Edit queries tutorial shows how to make manual changes in table contents which can be necessary as simulator database maintenance work Instructions for these are given in chapter 5 2 3 In order to use Query browser with simulator databases following things need to be taken into account Direct access of database is impossible when simulator is running Closing the simulator closes also MySQL server which needs to be started by executing the C BoF PSS2 PROGRAM Database bat In the start up window of Query Browser use o localhost as server host value o 3306 as port value o root as user name o Or other settings according your own hardware setup contact your local IT personnel if proposed settings don t work Query browser can be used to build and execute SQL queries e g to export data from simulator databases into files Below some example queries are given Exporting MySQL tables are executed by the SELECT INTO OUTFILE command BoF PSS2 User Manual 114 For example to export a MySQL table to a CSV file SELECT INTO OUTFILE c temp partfile csv FIELDS TERMINATED BY FROM PART WHERE P_DATSETID ds1 Similarly a query can be built in Query Browser and the result set can
78. e Networking Packet Too Big ICMPv6 In Core Networking pce cian 16 Select Inbound Rules and in the right pane New Rule BoF PSS2 User Manual 26 New Inbound Rule Wizard Rule Type Select the type of firewall rule to create Steps Rule Type What type of rule would you like to create Protocol and Ports Action Program Profile Rule that controls connections for a program Name f Port Rule that controls connections for a TCP or UDP port Content Retrieval Uses HTTP Rule that controls connections for a Windows experience C Custom Custom rule 17 Select Port New Inbound Rule Wizard Protocol and Ports Specify the protocols and ports to which this rule applies Steps Rule Type Does this rule apply to TCP or UDP Protocol and Ports TCP Action UDP Profile Name Does this rule apply to all local ports or specific local ports All local ports Specific local ports Example 80 443 5000 5010 18 Select TCP and Specific local ports Define port 1433 BoF PSS2 User Manual 27 New Inbound Rule Wizard Action Specify the action to be taken when a connection matches the conditions specified in the rule Steps Rule Type Protocol and Ports Action Profile ot Name What action should be taken when a connection matches the specified conditions Allow the co
79. e Requirements Server Configuration le updates Database Engine Configuration Reporting Services Configuration Error Reporting Internet based services and Installation Configuration Rules Installation Progress le Support services repete for this software unless other terms accompany those items If so those terms apply za Copy Print accept the license terms Send feature usage data to Microsoft Feature usage data includes information about your hardware configuration and how you use SQL Server and its components See the Microsoft SQL Server 2012 Privacy Statement for more information lt Back Next gt Help A 6 Accept licensing conditions and click next BoF PSS2 User Manual 21 SQL Server 2012 Setup Feature Selection Inixi Select the Express features to install Setup Support Rules Features Feature description Installation Type License Terms Database Engine Services Feature Selection SQL Server Replication Installation Rud Full Text and Semantic Extractions for Search m f Reporting Services Native Instance Configuration Shared Features Disk Space Requirements SQL Server Data Tools Server Configuration Documentation Components Datat Engi 8 Management Tools Basic Soe SQL Client Connectivity SDK Prerequisites for selected features Reporting Services Configuration Redistributable Features a i Error Reporting Already installed Installation Configur
80. e are free and easy to use tools available with graphical user interface for browsing and monitoring the MySQL database structure and viewing data contents of the tables with simple queries These tools can also be used to make small manual editions or deletions in the database that can be helpful in advanced use of the simulator Examples of such operations include deletions of unnecessary templates user modules or projects Because user friendly tools are available for this no special user interfaces have been included in the simulator Below two practical tools for direct use of MySQL database are presented MySQL Query browser 5 2 1 and MyODBC 5 2 2 Under separate topic 5 2 3 there are instructions how these tools can be utilized BoF PSS2 User Manual 113 The MySQL database of the simulator cannot be directly used while the simulator is running This is because all relevant tables are locked to ensure data integrity during simulations Thus it is necessary to close the simulator and start the MySQL server before direct access is possible The latter can be done by executing the database bat script provided with the simulator C BoF PSS2 PROGRAM Database bat 5 2 1 MySQL Query Browser MySQL Query Browser is a free visual tool which can be used to browse the structure of a MySQL database and its data contents and build and execute SQL queries Queries can also be generated graphically and contents of the databases can be mo
81. e available netting algorithms Available settlement algorithms function only on a single system level and cannot be used for linked transactions between different systems e g netting can only be done within one system at a time There are also limitations for the algorithms applied within one system The user can design own user modules with complex DVP algorithms to overcome these limitations For DVP PVP within the same system full multilateral settlement is available Partial net settlement algorithms are provided in such form that when a leg is unsettlable the other leg is also discarded Otherwise DVP PVP functions like PNS algorithms for normal one legged transactions However the optimality of such algorithm for DVP PVP transactions has not been verified and the results can be inconsistent caution is needed it is more a generalization of the algorithm possibilities Splitting and bilateral offsetting is not possible for DVP PVP transactions as this would be difficult to introduce for the other leg If defined splitting and offsetting are only performed for normal one legged transactions BoF PSS2 User Manual 100 Examples of algorithm combinations in DVP PVP processing in a single system 1 Straight forward ENBASICI QUEFIFOPR Transactions are settled in FIFO RTGS processing ENDRTGS1 order when sufficient liquidity SEBASIC1 available 2 DNS based on full ENBASICI MNSETTLD Transactions are netted with full multilat
82. e bilateral limits between pairs of participants It is optional BoF PSS2 User Manual 5 RSRV contains information on reservations Reservations are used to reserve a specific amount of the available liquidity to be used to settle some specific type of transactions Support for reservations is algorithm specific and for the moment there are no built in algorithms in the generally available version of BoF PSS2 which support the use of reservations Reservations data can be used in own user modules For the availability RSRV supporting algorithms you should check with the simulator team There can be many different reservations defined for one account SYCD contains system control data These data must be specified for each system This specification is done in the System control data specification screen not by importing a dataset A system ID has to be defined for each imported data table It is used when searching and configuring data that belongs to the same system System ID is selected from a drop down list which includes all system IDs that have been defined in the system definition window see chapter 3 4 Multiple data sets can be used for running the simulations with varying input data This is facilitated by a data set ID specified for each data table The input database will thus contain parallel data sets with the same information e g different data sets for intraday credits to simulate a situation with varying liqu
83. e en 42 3 1 Short description of BoF PSS2 simulator 42 3222 Main MENU MEC 42 ST oasisctsic oe ose E 43 3 2 2 menu DULODS oca pertes tee bts ttu e dn udi es 43 3 3 Working With Projects 44 3 3 1 Creating new project s xata ede tosta ONE ERU ONT REIR 45 3 3 2 Modifying an old Projects 45 3 3 3 Project duplicates and backups 46 3 3 4 Deleting 47 3 4 Setting up a payment and settlement 48 3 4 1 Creating new system data Set erecto teeth petites 49 3 4 2 Modifying an old system data set esses 51 3 5 Importing esee eret FEN Tr nA E aE AT UE Eua EUN 51 3 5 1 Creating new data set 54 330 2 Updating an old data Sela rode e eho a a do des 55 3 5 3 Inserting data in an old data set 55 3 9 2 SIODDITIE ra id T OR TERN USUS 56 3 5 5 Undoing OUR 56 3 210 TOUS JOE TMP OMG 4 56 3 6 VIS WINE JDpUL data ea beg reca utes eie teri Es rtg eun 57 3 7 Deletmg mput ALA eie Hea secede e eet 57 3 9 DITS ciconia toas ON Sie 58 Dp SUDO d
84. e initial specifications on the User module definition screen Thereafter it is possible invoke them on the System control data specification modification screen in the same way as originally provided modules and algorithms The time estimation algorithms TEA are tied to other algorithms and thus defined slightly differently see chapter 3 3 1 step 12 They provide function to calculate an estimate to the time that would have been used in the real world by a specific algorithm The algorithms provided with the simulator are shortly described in the table below More detailed definitions of the processing logics can be found in separate document Algorithm descriptions and user module development guide Descriptions of typical combinations of algorithms depending on the system type can be found in the next chapters Most of the sub algorithms are used both for RTGS and CNS systems while DNS systems have a very limited number of specific sub algorithms Fetches the next transaction or system event SUB SUFIFOPR one among all systems according to simulation time priority and transaction id Performs the basic entry processes on a specified transaction If the sending participant as no transaction in queue the algorithm checks the possibilities for booking according to available liquidity balance available intraday credit splits the transaction according ENT JENBASICI to defined splitting algorithm when needed passes th
85. e of simulation format YY YYMMDD 3 Participant ID of participant 4 Account ID of account 5 Bod Balance at beginning of day 6 Eod Balance at end of day 7 Ave Time weighted balance during the day 8 Min Minimum balance during the day 9 Max Maximum balance during the day 10 Average cred lim Time weighted average of the credit limit field A AVGCRLIM from ACST 11 Value settl Sum of the transaction values of settled transactions during the day 12 Value unsettl Sum of the transaction values of the unsettled transactions during the day 13 Number settl Count of the settled transactions 14 Number unsettl Count of the unsettled transactions 3 11 3 Bilateral limits statistics report The bilateral limits statistics report can only be created for simulations where the bilateral limits in use selection has been made in the system dataset See 3 5 1 This report shows basic statistics for each day and each bilateral pair of participants or accounts The values reported relate to that specific bilateral connection i e just the data between two participants Note This report can become huge if the number of participants accounts in the simulation is large BoF PSS2 User Manual 68 ae eS pu To create the report follow these steps in the Basic statistics reports screen Select a simulation from the drop down list Type in the name of the output file use a consistent naming convention Select the Bilateral limits
86. e old output data is destroyed On the Simulation configuration screen 1 Click the Modify old simulation ID radio button and select a simulation ID from the drop down list Information about the selected simulation ID appears on the screen 2 Change information 3 Click the Save simulation ID button BoF PSS2 User Manual 60 3 9 3 Cross checking data sets Cross checking verifies that the information in selected data tables data sets is coherent e g all accounts needed are available for booking transactions intraday credit changes are within transaction dates and opening hours and initial balances are within transaction days It is good practice to run a cross check when a configuration is created During cross check the number of errors found is shown The progress of cross check is displayed by telling which simulation ID system ID and data sets are currently checked The progress bar window tells also at suitable intervals which row in the first table is under processing by showing the transaction ID or participant ID To stop a cross check press the Stop cross check button If the cross checking finds errors they may be viewed by clicking the View errors button The error list file is located in the ERRORLIST directory of the project It is named SimulationConfigurationError_date_time csv date in format yymmdd and time in format hhmmss for example SimulationConfigurationError_090407_121030 csv Unnecessary er
87. e to distribute these features to the whole user community We are indebted to the following persons in the above mentioned organisations Bank of Canada Neville Arjani Devin Ball Lorraine Charbonneau Allan Crawford Alejandro Garcia Dinah Maclean Darcey McVanel and Jeffrey Smith The Bank of England Stephen Millard and George Speight BoF PSS2 User Manual 140 The Federal Reserve Bank NY Morten Bech Kurt Johnson James J McAndrews Alpha Beta testing and development contributors The early BoF PSS2 simulator version was distributed to other central banks as an alpha and beta version Important contributions in the form of new ideas testing bug finding etc have been received from following persons involved in alpha and beta testing Contribution to further development and bug fixes of the production version is also acknowledged Bank of England Paul Bedford Stephen Millard and Jing Yang Bank of Slovenia Simon Anko Bank of Thailand Tanai Khiaonarong Central Bank of Iceland Rafn Arnason Central Bank of the Republic of Turkey Pinar Akan European Central Bank Peter Galos Nationalbanken Danmark Kasper Sylvest Olsen Singapore Monetary Authority Wai Leong Lee Sveriges Riksbank Johan Pettersson Bank of Canada Darcey McVanel Alejandro Garcia Neville Arjani Devin Ball Jeffrey Smith De Nederlandsche Bank Elisabeth Ledrut Ronald Heijmans BoF PSS2 User Manual 141
88. e transaction or its parts for booking or into the waiting queue ENBASICI does not support Bilateral limits multilateral limits and reservations are not taken into account Settles normal transactions according to normal rules i e as ENBASICI but settles highly urgent payments immediately irrespectively of liquidity constraints on the sending account ENT ENFORURG Priority 0 9 When the liquidity constraint is violated a violation entry is written to the AVST table The priority code is defining which level of transactions should be treated as highly urgent e g a parameter value of 7 indicates that BoF PSS2 User Manual 85 Type Name Parameters Description transactions with a priority value equal to 7 or igher will be treated as highly urgent payments Algorithm is only available in RTGS and CNS systems ntry algorithm for RTGS system with secondary receipt reactive queue See ch 4 2 14 2 1 for more details Performs the basic entry process for uem transactions with equal or higher priority than imit 0 9 iiu 6 Priority 0 9 imit parameter and forced immediate NT JENTDUALI settlement regardless of all limits for Open hhmmss er Close hhmmss transactions with higher or equal priority than the Priority parameter Transactions with smaller priority than Limit parameter are placed in secondary queue QU2 Open hours for QU2 are defined with parameters Open and Close Performs the basic entry processes in s
89. each directory can be edited before creating the project Default directories for other than input and output database can also be edited for existing projects The proposed default location of new project and all of its subfolfers can be defined by editing DefaultProjectPath variable in c BoF PSS2 PROGRAM BoF PSS2 properties file You can change the default project on the Main menu The basic idea of project definitions is to separate the input and output databases for different simulation projects Especially the output database can become very large if all simulations over a longer time are saved in the same database The simulations will be faster when databases are kept moderate in size It will also be easier to make back ups when databases are smaller 3 3 1 Creating a new project Projects can be created for different types of projects using different input data and creating different output data It is easy to destroy unnecessary data when it is organised according to projects This is especially useful when projects create large databases and file directories On the Initial specifications screen 1 Click the Create new project radio button and type in the name of the project up to eight characters The program proposes input and output names and default directories You can change them but be careful For example you can name an existing database to share input data but still keep the output databases separate 2 Clic
90. eate new template radio button and type in the template name Type ordinal numbers in the first column in the data table on the screen Templates are stored so that if you want to use an old template click the Use old template radio button and select a template from the drop down list The selected template is shown in the first column of the data table Again a consistent naming convention is helpful Old templates can also be modified after they are selected The changes are saved when a modified template is used Type in the Number of rows records to skip at the beginning field the number of rows at the beginning of the file not to be imported e g header rows Type in the Number of rows records to skip at the end field the number of rows at the end of the file not to be imported e g summary rows Click the Execute import button Rows from the file will be imported and stored in the selected database table You can control the number from the Rows processed window as well as the Rows with errors window Items 2 6 in the above list are together referred to as the data format defaults 3 5 2 Updating an old data set Updating an old data set will update the given fields defined by the template in the specified data table for rows where the keys of the data table and the input CSV file match Other rows remain untouched Key fields cannot be updated On the Import input file screen Perform steps 1 8 as in creating a new data set in
91. ect Default instance Set instance ID to MSSQLSERVER BoF PSS2 User Manual 22 SQL Server 2012 Setup Ini xi Server Configuration Specify the service accounts and collation configuration Setup Support Rules Installation Type License Terms Feature Selection Installation Rules Instance Configuration Disk Space Requirements Server Configuration Database Engine Configuration Reporting Services Configuration Error Reporting Installation Configuration Rules Installation Progress Complete Service Accounts collation Microsoft recommends that you use a separate account for each SQL Server service Service Account Name SQL Server Database Engine NT Service MSSQLSMSSQL Automatic gt SQL Server Reporting Services NT Service ReportServer Automatic xl SQL Full text Filter Daemon Launcher NT Service MSSQLFDLaunc Manual SQL Server Browser NT AUTHORITY V OCALSER Disabled WE SQL Server 2012 Setup 9 Use defaults and click next Database Engine Configuration Specify Database Engine authentication security mode administrators and data directories Setup Support Rules Installation Type License Terms Feature Selection Installation Rules Instance Configuration Disk Space Requirements Server Configuration Database Engine Configuration Reporting Services Configuration Error Reporting
92. ed in a system see 3 4 Next you import input data for the system just specified into the input database participant names and transactions and optionally daily opening balances intraday credit limits and bilateral balances see 3 5 Once you have specified the system structure and input data you configure simulations in the Simulation configuration screen and cross check data sets belonging to the simulations see 3 9 Simulations are executed by accessing the Simulation execution screen see 3 10 You can run one or more simulations at a time After running the simulations you can export reports compare simulations and delete or export output data see 3 11 Reports can be saved in CSV files These files can be further analysed and processed outside the simulator 3 2 Main menu When the BoF PSS2 program starts the main menu appears Select from three subsystems Input generation subsystem The input generation subsystem checks the input data and stores it in the input database Simulation execution subsystem The simulation execution subsystem is used to configure and execute simulations Output analysing subsystem The output analysing subsystem facilitates output data exports viewing of reports and output analyses BoF PSS2 User Manual 42 Network analysis system The network analysis system can be used to generate networks graphs from input or output transaction data and then to calculate statistics from the gener
93. eeps a log of all events and bookings and makes reports and statistics on simulation runs A control panel facility is available to set up and manage settlement structures configure settlement rules and launch monitor and control simulation runs The simulator keeps a log file for the user of all simulations made 1 1 3 Output analysing subsystem The output analysing subsystem has the functionality for reporting basic statistics for common result parameters The output database contains the raw data for the booking order of transactions and balances of settlement accounts The input database contains the transaction flow while the output database contains the settlement flow i e settlement order and timing of submitted transactions An analyser program is used to generate additional reports Users typically perform many different simulations and want to compare the results of the different runs The analyser does some comparisons automatically but additional analyses may require exporting CSV files for use with tools such as Excel It is thus advisable to create a structure beforehand for simulation runs and determine which results are to be stored in databases for further analysis The databases can become overly massive when transaction volumes are high and all transaction level events are retained in the databases 2 Supported system structures and simulation examples BoF PSS2 software supports a large variety of general system struc
94. eral netting ENDDNSO0I all or nothing multilateral netting at given occasions 3 CNS system with ENBASICI QUEFIFOPR Transactions are queued and settled queuing and partial ENDDNSO MNSETTLI in FIFO order and multilateral netting at given SEBASIC1 netting is performed at given time intervals intervals DVP PVP transactions can be defined for all types of systems RTGS CNS and DNS These can be defined for processing within one system or as intersystem transactions Note that there is no checking logic in the simulator to assess whether the selected algorithm combination is rational The user is responsible for selecting appropriate algorithms for the system type RTGS CNS or DNS 4 1 5 Algorithms for systems with bilateral limits Bilateral limits can be used to describe debit caps credit caps since version 3 1 0 and similar participant level bilateral or multilateral restrictions for payment clearing and settlement The functioning of these limits is described below first in bilateral level Definition of multilateral level is explained separately at the end If a bilateral limit debit cap is set from participant A to participant B the cumulative net value of payments settled between these participants called bilateral balance must remain within the given limit The debit cap defines the smallest allowed value for this bilateral balance A sending surplus i e when A has sent a greater value of payments to B
95. eriod information provided in the P_USERCOD1 field of the PART table and it employs the following parameters EOD gross or return which defines if unsettled secondary queue transactions are moved to the RTGS queue the gross case or if unsettled transactions are discarded i e returned to sender the return case NewPriority 0 9 is optional It defines the value of priority given to the transactions moved via gross to the normal RTGS queue If the parameter has not any value transactions are moved with their original priorities The period parameter in the PART table has an important function as it defines how the open hours of the secondary queue can be divided into sub periods The format for this parameter is hh mm for example 01 30 If incorrect format is used period of 60 minutes is assumed and an error message is shown in the console Within each sub period the net received balance starts from zero and is calculated such that outgoing payments released by the secondary receipt reactive queue are netted against all incoming payments This net received balance must always be greater than or equal to zero Payments sent via the normal RTGS process by certain participant do not affect the processing of payments in the secondary queue of this particular participant only amount of funds received and payments sent from the secondary queue are relevant For example if the period is defined to be 30 minutes a participant can
96. ess of main memory 2 MySim 512M cnf if the PC has 512MB of main memory 3 MySim 768M cnf if the PC has 768MB of main memory 4 MySim 1G cnf if the PC has 1GB or more of main memory The configuration files contain following parameters Wait_timeout is the number of seconds the database server waits for activity on a open connection before closing it To make sure that database connection is not closed in very large and long lasting simulations this parameter is raised from default 28800 8 hours to 3153600 one year in seconds Key_buffer_size determines the cache size available for database table indexes This is the most important buffer in MySQL MariaDB and the value is recommended to be 25 50 of main memory reserved for MySQL MariaDB Join_buffer_size determines the memory reserved for queries to multiple tables This could have approximately 5 of all memory reserved for MySQL MariaDB Read_buffer_size determines memory reserved for reading tables This is also recommended to be 5 of memory reserved for MySQL MariaDB Sort_buffer_size is reserved for sorting tables Recommended size also 5 Tmp_table_size determines the size of temporary table that can be held in memory Recommended size 10 5 of all memory reserved for MySQL MariaDB Myisam_sort_buffer_size determines the memory reserved for sorting in database maintenance and defragmentation functions Size equalling 5 10 of memory reserved for MySQL MariaDB is adequate Note ho
97. essing the add simulation ID button A simulation can be deleted from the batch by selecting the simulation ID and by pressing thereafter the Delete button Simulation ID Simulation name 1 9 Execute cross check C Skip cross check Save batch Start Stop View error report Back to main menu Exit program 6 11 View simulation logs 4 View simulation logs i f j View simulation logs 126 6 2009 0928 43 1 7 2009 16 08 55 6 7 2009 11 34 12 17 7 2009 14 06 34 Back to main menu Exit program BoF PSS2 User Manual 132 6 12 Basic statistics reports Basic statistics reports Project Testing Simulation ID Simulation name EX1Free Output file 52 Testing OUTPUT REPORTS Accountstatistics EX1Free EXIRTGS csv System statistics report 9 Account statistics report System ID EXIRTGS Bilateral limits statistics report System time series rep System ID j Reporting interval per minutes C Account time series report System ID Reporting interval per minutes Participant ID Account ID Account ID Bilateral limits time series System ID Reporting interval Participant ID Account ID Account ID Save in csv file Save and open csv file Back to main menu Exit program Account comparison analyser Project Testin
98. etic ascending order which means that numeric values need to be same length in order to be sorted correctly In the bypass case transactions are processed in priority and FIFO order with the exception that if a transaction higher up in the queue cannot be settled it is bypassed and payments lower in the queue are tested for settlement in priority or FIFO order until no more settlable transactions can be found Releases transactions from secondary queue in priority FIFO order in receipt reactive gross settlement simulations EOD parameter defines the processing logic of secondary queue payments at the end of each period gross means transactions are moved into primary RTGS queue return means transactions are discarded i e returned to original sender In the former case transactions are given a new niform priority if NewPriority has a value Otherwise they retain their original priority See ch 4 2 1 for more details Releases transactions from bilateral waiting queues when bilateral limits are increased and pon arrival of transactions from the QUE BEIFOER counterparty in priority and FIFO order Supports Credit cap limits starting from version 3 1 0 OD gross or return ewPriority 0 9 optional Releases transactions from bilateral waiting queues when bilateral limits are increased and pon arrival of transactions from the counterparty in priority and FIFO order with the exception that if a transaction higher up
99. etwork of systems e g TARGET domestic payment system environment consisting of an RTGS system and ancillary systems e g a CNS and a DNS system settling in the RTGS system and RTGS system settlement between an RTGS and a securities settlement system The simulator also supports multi currency and multi asset processing which allows simulation of international payment systems and securities settlement systems Assets are treated as book entry currencies Payment versus payment PVP and delivery versus payment DVP processing is supported DVP PVP transaction pairs should be connected via a DVP PVP link code In addition to single intra system DVP PVP processing in RTGS or deferred net settlement mode the simulator also supports RTGS DVP PVP settlement between real time systems The focal output factors in simulations are typically counterparty risk and overall risk liquidity consumption settlement volumes gridlock situations and queuing time Measures for these factors will be stored in the output database In what if simulations the input parameters are modified to distinguish effects on output factors The following input parameters are often used or modified in simulations Input transaction flow e g testing when a single counterparty or system has problems Available liquidity Credit limit debit cap restrictions Queuing and netting processes Participant behaviour due to e g new pricing
100. f you can t find these folders or some files inside these folders are missing make sure that MySQL MariaDB was installed with Client programs enabled in the Custom Setup screen step 4 in MySQL MariaDB installation steps 33 Setup BoF PSS2 Biol Specify Database Server folder paths by Currently supported database servers include MySQL and MariaDB Browse the location Database Server Base folder and Data folder then click Next Database Server Base folder path e g C MySQL C Program Files MariaDB 5 5 Database Server Data folder path e g C MySQL data C Program Files MariaDB 5 5 data C MySQL data Browse The files affected by these path definitions are BoF PSS2 User Manual 34 C BoF PSS2 PROGRAM Database bat C BoF PSS2 PROGRAM Database_shutdown bat C my cnf If you later wish to change the database server base or data folder you can make the necessary changes to these files for example with notepad without re installing BoF PSS2 See ch 2 6 13 Click on the Finish button The BoF PSS2 program is now installed in your computer i3 Setup BoF PSS2 Bloke Completing the BoF PSS2 Setup Wizard Setup has finished installing BoF PSS2 on your computer The application may be launched by selecting the installed icons Click Finish to exit Setup 2 4 Running the simulator with Microsoft s SQL Server If you chose to use the MS
101. g Copy from old 1 ify old i iew Creat i iew CO Q Modify old comparison view 9 reate new comparison view 1 Show percentage Show absolute Select from the drop down list the simulation ID and add it to the comparison by pressing the add to comparison button When all simulations are selected select a system ID from the system ID drop down list Output file C BoF PSS2 P_Testing OUTPUT_REPORTS Difference from the first selected simulation H EX1Free HCDaamu Delete HCDaamu v Add to comparison w Select from the drop down list the account statistics field to report and add it to the comparison by pressing the add to comparison button IIT m LI Save in CSV file Save in CSV file and open Back to main menu Exit program BoF PSS2 User Manual 133 6 14 System comparison System comparison analyser Project Testing Copy from old Modify old comparison view 9 Create new comparison vie COMP1 comparison view Output file C BoF PSSI P TestinpOUTPUT REPORTS Difference from the first selected simulation Select from the drop down list the simulation ID and add it to the comparison by pressing the add to comparison button When all simulations are selected select a system IDs to the comparison Om mor E EX1Free 1RTGS D Select from the drop down list the account statistics field to report and add
102. g appropriate algorithms among those applicable for RTGS simulations 4 1 2 Algorithms for CNS systems Continuous Net Settlement CNS systems are private systems that process transactions one by one in a real time environment Transactions are booked on private settlement accounts during the day In most cases these are settled with central bank accounts at the end of the day and possibly more often From the simulator s standpoint RTGS and CNS systems are quite similar However CNS systems offer the possibility for intraday liquidity swaps with an RTGS system and the end of day settlement in an RTGS system Processing booking queuing and discarding of transactions takes place as in an RTGS system The user specifies the processing patterns by selecting algorithms and assigning necessary parameters The algorithms available for CNS systems are also the same as for RTGS systems When CNS systems are simulated separately not as part of a multisystem environment with a main RTGS system the initial liquidity needed for the processing can be introduced as initial balances representing liquidity reservations made on RTGS accounts credit limits representing the credit risk of the private settlement bank or the system itself and liquidity transactions made from the special account of the settlement bank When the CNS system operates based on credit risks the simulator calculates the open positions for each participant
103. g a view of the data sets stored in the input database The disk size of the input database is not decreased when data sets are deleted For that purpose the input database needs to be optimized or defragmented after the deletion This can be done by clicking the optimise input database button For large databases this can be a lengthy process Optimization of database will also improve the simulator performance if you have made large number of database modifications On the Delete data sets screen 1 Select data type 2 Select system ID all data sets of the given data type and system appear on the screen 3 Select the data sets to be deleted and click on the Delete data sets button 4 If several data sets have been deleted and the disk size of simulator data needs to be decreased click optimise input database button 3 8 Export input file You can export data from the input database to files by accessing the Export input file screen The screen opens by clicking the Export input file button on the Main menu On the Export input file screen 1 Select the database table type to be exported from the drop down list 2 Select a data set ID from the drop down list 3 The data separator is a mark that separates data fields from each other in the output CSV file The last selected value is shown in the field To change it type in a new data separator Any type of separator is acceptable as long as it is different from the decimal se
104. h multiple interacting systems can be created and simulated with BoF PSS This enables simulation and analysis of parallel systems with independent processing logics such as network of several RTGS systems such as TARGET combination of a RTGS system and an ancillary CNS or DNS system or a RTGS payment system together with a securities settlement system working with DVP processing In multi system simulations individual systems are set up independently one by one system definition and data imports are performed for each simulated system separately System ID field is used to collect together definitions and input data of individual systems For transactions between systems the receiving system name has to be defined in input data Transactions are always included in transaction data set of that system where the from participant of each transaction is located The system names used in input data e g From system and To system in transactions need to be the same which are used as System IDs in system definition The transaction IDs must be unique simulation wide i e the transaction data sets of the different systems cannot use same transaction IDs Cross check will display reused IDs as errors of the second transaction data set that uses them An example of multi system simulation is provided in example2 material included with the simulator C BoF PSS2 EXAMPLES It presents a main RTGS system and an ancillary CNS using the accounts in the RTG
105. he last selected input time format is shown in the time format field To change it select a new format from the drop down list Any type of separator is acceptable The colon does only symbol its position See also 5 6 Time format 6 The last selected time transposition value is shown in the time transposition field Transposition can be used to increase or decrease time and date values in the input data Transposition value is given in hhmm format In import the transposition value is added to all time values in DBAL values a whole day is added or subtracted Using Time transposition can be useful if the simulated system is open over midnight i e if transactions for one day in the system do not fit inside a real calendar day For more detailed explanation see 5 7 Time transposition functionality 7 in name of the input file or select it with Browse button 8 Select the system ID from drop down list Only those system names which have been defined for this project are visible For defining system names see chapter 3 4 9 Click the Create new data set radio button and type in the name of the data set The data set ID is the identifier for different tables of the same input data type See 5 4 Data sets BoF PSS2 User Manual 54 10 11 12 13 A file template describes which columns in the file correspond to particular fields in the database table If you want to create a new template click the Cr
106. her software which is creating the simulated data or commanding the execution CLI is designed to cover the most frequently used repetitive tasks The graphical user interface is still used in tasks which are considered to be typically one off actions Examples of these are creation of new projects setting the data format defaults definition of new templates and also definition of system data set contents The operations supported by the CLI are importing datasets configuration of simulations executing simulations and exporting results In the command mode the simulator software is divided in two parts First there is server software which is the actual simulator executing the given commands similarly as in the graphical mode This server is displayed as a console window The server is started by executing the Start up SERVER bat file located in C BoF PSS2 PROGRAM The server must be running before any commands to the simulator can be given with the script language The server is closed by executing the C BoF PSS2 PROGRAM PSS2_server_shutdown bat file Second part is the client program C BoF PSS2 PROGRAM BoF PSS72 bat which is called in the command prompt with the actual script command given in the argument It passes on the individual command parameters to the server and collects the feedback of the commands submitted There are three general options for using the command interface a Giving the individual commands directly in comma
107. idity There may also be different transaction flows depicting e g crisis situations To manage a large number of parallel data sets effectively it is important to create a consistent naming convention The data set ID can be up to eight characters long It is important to note that the input systems only check the data content at the field level Due to possibility of multiple parallel data sets cross checking can only be performed after simulations are configured and parallel data sets selected Templates are used for inputting data using CSV files The templates describe the data field order in the CSV files The templates specify in which order to input data fields are in the input CSV file see example below BoF PSS2 User Manual 52 Example of CSV file and Import template relationship Ex1 tran csv Notepad Two introductory File Edit Format View Help explanation rows Transaction data for RTGS in example 1 to be skipped ID Day Time value Rec part ID send m ID Class Wee PP 101312 5 2003 7 01 00 4880384 39 1 1 102 12 5 2003 7 01 00 685826 6 1 iu 103 12 5 2003 7 01 00 2639630 73 1 11 1 104 12 5 2003 7 01 00 46064 41 1 10 1 105 12 5 2003 7 01 00 633795 99 ji 106 12 5 2003 7 01 00 79702 04 1 14 1 File column in input template SS ier T FRPARTID From participant ID tells the data order in the input T FRACCOID From account ID CSV file T TOSYSTID TosystemID OOZOZEEE e Data
108. ied Unless you absolutely know what you are doing it is recommended to used the standard Outward direction Inward Changes the direction of each arrow in the graph before calculating the statistics Outward recommended Calculates the indicators using standard directed graph Undirected Calculates the indicators using undirected graph Edge weights None Gross value Net value These settings can be used to adjust the weights of the network to which the indicators are applied much the same way as the Edge width can be chosen in the visualization Additionally there is possibility to choose weight None which neglects any counts and volumes of transactions and is only concerned with relations between the vertices Indicators marked with are affected by the weights Indicators The toolbox supports a number of network indicators that are part of JUNG 2 0 1 and a couple of additional indicators Connectivity Eccentricity and Reciprocity Following is a short description of each indicator Technical details of indicators can be found in network literature and http jung sourceforge net site apidocs edu uci ics jung algorithms scoring packa ge summary html Barycenter G Inverse of sum of distances to other nodes Closeness G Inverse of average distance to other nodes Betweenness G How many shortest paths go through this node If a shortest path is not unique the score is divide
109. ill be reversed 3 11 Analysing results Simulation results are stored in the output database according to simulation output selections The output can be viewed using available statistics and reporting features All data can also be exported via CSV files for analyses in other software You can view basic statistics reports on the Basic statistics reports screen The screen opens by clicking the Basic statistics reports button on the Main menu You may select from six report types see 3 11 1 System statistics reports 3 11 2 Account statistics reports 3 11 3 Bilateral limits statistics report 3 11 4 System time series reports 3 11 5 Account time series reports and 3 11 6 Bilateral limits time series report You can compare simulations at the system or account level Reports are saved as CSV files and can be viewed in Excel System level comparisons are accessed via the System comparison analyser screen The screen opens by clicking System comparison button on the Main menu See chapters 3 11 7 Creating a new comparison view at the system level and 3 11 8 Modifying an old comparison view at the system level for further details Account level comparisons are accessed via the Account comparison analyser screen The screen opens by clicking the Account comparison button on the Main menu See chapters 3 11 9 Creating a new comparison view at the account level and 3 11 10 Modifying an old comparison view at the account level further deta
110. ils Delete data from output database on the Delete output data screen The screen opens by clicking the Delete output data button on the Main menu See chapter 3 11 11 Deleting data from output tables for further details BoF PSS2 User Manual 66 Export data from the output database on the Export output file screen The screen opens by clicking the Export output file button on the Main menu See chapter 3 11 12 Executing export for further details Reports can only be produced for data tables that have been stored in the output database according to selections made in the execution phase 3 11 1 System statistics reports The system statistics report provides essential system level output data for the simulation On the Basic statistics reports screen Select a simulation from the drop down list Type in the name of the output file Select the System statistics report radio button Click the Save in csv file or Save and open csv file button Both actions will save the report as a CSV file the Save and open csv file will open the file in Excel The report contains following columns Col Name Description 1 Date Date of simulation format Y YY YMMDD 2 System ID of system 3 Tot bod balances Sum of the balances of each account at the beginning of the day 4 AVG Cred Lim Time weighted average of the credit limits field Y_AVGCRLIM from SYLS 5 Value sett Sum of the transaction v
111. imulation with bilateral limits in use See ch or each transaction checks the possibilities for booking and passes the transaction or its parts for booking or into the waiting queue Transactions with a higher priority than the Priority code defined will be treated as urgent payments and PAT ene 0 9 will be processed irrespectively of bilateral limits but the bilateral limit balances will still be updated The other transactions will be checked against the bilateral limits and will only be booked if they pass both the bilateral limit requirement and the overall liquidity debit cap requirement Supports Credit cap limits starting from version 3 1 0 Basic end of day algorithm of RTGS process xecutes the settlement algorithm and specified subalgorithms for one final time and performs ND ENDRTGS1 one end of day procedures for transactions remaining in queues The settlement algorithm is called for each remaining participant separately passing the participant as parameter nd of day settlement cycle for DNS system type Time when the algorithm is executed is ND JENDDNSO1 time40 defined with the parameters At least one time as to be given while maximum number of separate settlement runs is 40 End of day algorithm for systems with bilateral limits The code parameter defines what should BND lENDRBILI M be done with the remaining bilaterally queued starting time transactions 1 delete 2 process as normal payments and the
112. ing facts are worth noting if you plan to use Excel with the BoF PSS2 simulator Old Excel versions have a limit of 65 536 rows per worksheet Excel 2007 can handle 1 048 576 rows Excel may produce additional rows and columns when saving a table as CSV file all rows and columns that have been active in the table during Excel calculations will be saved in the CSV file even though they are empty at the time of saving Large values may be distorted less accuracy BoF PSS2 User Manual 126 Check that delimiters decimal and data separators and presentation formats date and time are identical with simulator specifications The actual content of CSV files stored by Excel can be checked with Notepad or some other text editor The output reports and output CSV files have not been edited The idea is that everyone can edit them according to own desires using Excel or other reporting tools When some reports are used frequently it is a good idea to read the output CSV files into a predefined Excel table 6 Application screens 6 1 Main menu 19 Main menu E T Bank of Finland Payment and Settlement Simulator Main Menu Initial specifications Input generation Simulation execution Output analysing Network analysis subsystem subsystem subsystem system Define system data Basic statistics reports Generate networks Import input fle Account comparison a Mew sien
113. ing license agreement carefully MySQL Software License Information This software product is not publicly available software This software product is MySQL commercial software and use of this software is governed by your applicable license agreement with MySQL O1 do not accept the terms in the license agree 3 Select Custom and click next Choose the setup type that best suits your needs Please select a setup type Typical T Common program features will be installed Recommended for general Y All program features will be installed Requires the most disk space Choose which program features you want installed and where they will be installed Recommended for advanced users BoF PSS2 User Manual 11 4 It is recommended to install to either C MySQL or C Program Files MySQL The simulator installation program is able to automatically detect these folders and will configure the database bat database_shutdown bat and C my cnf files accordingly MySQL Server and Client Programs should be selected for installation The other items are not necessary for the simulator E MySQL Server 5 0 Setup Wizard Custom Setup Select the program features you want installed Click on an icon in the list below to change how a feature is installed Feature Description Installs the MySQL server executables 3 Client Programs MySQL Instance Manager Documentation
114. input data For DBAL data any positive value in time transposition means that all introduction days are moved to be one day later while any negative value has no effect on DBAL days This is because any positive value is assumed to move the start of the simulations to the next day All reports will use the actual time date format Note Any algorithm parameters with time values have to be given in simulation time Time transposition is not applied on these Also selection rules in export must be done based on simulation time see 5 9 Note The time transposition is just an input output feature which will just convert the information during import export or report creation 5 8 File template A file template describes which columns in the CSV file correspond to particular fields in the database table For example if you want to import a CSV file with participant data to the PART table and the CSV file s first column contains participant ID and the second column the name of the participant you define in the import template 1 in the first row P PARTICID and 2 in the third row FULLNAME The other rows stay empty if these are the only fields to import BoF PSS2 User Manual 125 Templates are saved in the TEMP template table in the SYSTEM database The input data tables PART participant DBAL daily balances ICCL intraday credit limits and TRAN transaction have all their own templates Ready made templates are provi
115. ion will place unsettled transactions back in the transaction queues to be settled later if possible Delete unsettled transactions include in statistics will remove the transactions from queue but still include them in output statistics and reports Delete unsettled transactions exclude from statistics means that the unsettled transactions will be removed from queue and also from all transaction level statistics and most system and account level statistics They will only be included in aggregate transaction value and transaction count numbers in system and account level statistics Force end of day settlement will result in bookings on the accounts irrespective of any credit limit violations This can lead to negative account balances at end of day Forced end of day settlement can be used to find out the minimum liquidity needed to settle all transactions at least at the ends of the day An account violation record AVST will be written for every violating transaction 11 Select the appropriate algorithms Algorithms define the processing methods Entry ENT and END end of day algorithms are mandatory for all systems Select an algorithm and fill in its parameter values when required Add it to the attached algorithms by clicking on the Add algorithm button See 4 1 Algorithms for details Selected algorithms can be removed by selecting the corresponding row on pressing the keyboard s delete button 12 The version 3 0 0 allows the use of time e
116. iority This facilitates free definition of queue order by moving the right data to the ser code fields e g the size of transactions Note that the User code fields are of type VARCHAR 12 in order to carry all kind of data and thereby sorted in alphabetic ascending order which means that numeric values need to be same length in order to be sorted correctly The algorithm is performed after each transaction queue entry and liquidity change so caution is needed with large transaction volumes Because of the bilateral processing the priority IFO rule can become bypassed on system level in bilateral off setting Performs partial bilateral net offsetting of bilaterally queued transactions in FIFO and priority order by including transactions that can be settled within the available bilateral limit The algorithm removes transactions one by one in priority and time order starts by removing the most recent submitted transactions with the lowest priority for each participant pair The solution must fulfil the bilateral limit criteria and the overall balance limitations The algorithm is performed after each transaction queue entry liquidity transfer and overall credit and bilateral limit change so caution is needed with large transaction volumes Supports Credit cap limits starting from version 3 1 0 Performs partial bilateral net offsetting of bilaterally queued transactions in user defined order ascending user defined field 1
117. it Windows it is of the format mariadb 5 3 7 winx64 msi 2 Double click the msi installation file to start the installation and click Next in the setup wizard window 2 MariaDB 5 5 Setup Welcome to the MariaDB 5 5 Setup Wizard The Setup Wizard will install MariaDB 5 5 on your computer Click Next to continue or Cancel to exit the Setup Wizard BoF PSS2 User Manual 15 3 Accept the license to proceed with the installation and click Next i MariaDB 5 5 Setup End User License Agreement Please read the following license agreement carefully MariaDB GNU GENERAL PUBLIC LICENSE Version 2 June 1991 Copyright C 1989 1991 Free Software Foundation Inc 59 Temple Place Suite 330 Boston MA 02111 1307 USA Everyone is permitted to copy and distribute verbatim copies of this license document but changing it is not allowed Preamble The licenses fnr mnst software are desianed tn take vnur freedam v I accept the terms in the License Agreement Cam om Jee Come 4 At the Custom Setup screen select at least the MariaDB Server Database instance and Client Programs to be installed Install additional parts according to your preference The BoF PSS2 setup will automatically detect MariaDB installed in C MySQL though any location is acceptable i MariaDB 5 5 Setup Custom Setup Select the way you want features to be installed MariaDB Click the icons in the tree belo
118. it to the comparison by pressing the add to comparison button Value in data Add to comparison a Show percentage Save in CSV file Save in CSV file and open Back to main menu Exit program FL a namen Back to main menu Exit program BoF PSS2 User Manual 134 6 16 Export output file Export output file Project Testing Data format defaults Simulation ID EXIFre Data separator Date format d m yyyy v Database table TEST Transaction event statistics Decimal separator m Time format hh mm ss Transposition value 0000 Output file C BoF PSS2P_Testing OUTPUTEX Free TEST csv O Create new template _ Create names of columns 9 Use old template TEST ALL File colu DBc Var name Descriptive name Rows processed 6 17 Network Analysis Toolbox r PSS Generate networks 8 M of Finland HE N N PAYMENT AND SETTLEMENT ae SYSTEM SIMULATOR mom Network Analysis Toolbox Project FIDATA input data table output data table Begin date yyyymmdd 2 System ID System D e d Data set ID Simulation ID Mans RENE End time m Network Visualization Edge width Gross value Edge size normalization constant y
119. k the Save project modification button The project will be saved and become vivible in the drop down list in the Main menu If a project folder already exists with the corresponding name the files including the database files in the project folders will not be over written Only the necessary information according to the selections will be stored in the PSS2_ systemDB 3 3 2 Modifying an old project On the Initial specifications screen BoF PSS2 User Manual 45 1 Click the Modify old project radio button and choose a project from the drop down list Information of the selected project is shown in the fields of the screen 2 Change the project information Be especially careful when changing database specifications 3 Click the Save project modification button 3 3 3 Project duplicates and backups All data which is defined or created in a simulation project is stored in the folder of this project This makes it possible to easily backup and restore or duplicate projects As an example a project with name examplel on PC 1 is considered Its folder is located at CABoF PSSWp examplel Contents of this project can be transferred to an another computer PC 2 including all imported data specified systems results from executed simulations and created reports in the following way 1 In PC 2 which has BoF PSS2 ready and installed a new project is created with same name as the copied examplel The location of this project
120. lator can be used for studying liquidity needs and risks in payment and settlement systems Special situations which are often difficult or impossible to test in a real environment can be simulated with this tool This document is the user manual of BoF PSS2 It describes features of the software and their use It also provides overview of technical details of the simulator and refers to other documentation where more details can be found The manual is structured as follows Chapter 1 provides this introduction and describes general structure and possible usages of BoF PSS2 Chapter 2 provides instructions for installation of BoF PSS2 and necessary third party software Chapter 3 presents the user interface of BoF PSS2 and describes its existing features Chapter 4 presents outline of algorithms which are the building blocks used in describing simulated payment systems Chapter 5 presents outline of data management and structure of the database Chapter 6 provides screenshots of the graphical user interface Chapter 7 includes references to more detailed technical documentation of the simulator Chapter 8 includes short troubleshooting guide Chapter 9 lists acknowledgements of contributors who have participated in the development of the tool 1 1 General overview The BoF PSS2 system structure contains three main subsystems a Input generation subsystem b Simulation execution subsystem C Output analysing subs
121. lator in the Start Menu If you want to use an existing folder use Browse BoF PSS2 User Manual 31 to select the Start Menu folder in which you would like the Setup to create the shortcuts for the simulator Click the Next button j3 Setup BoF PSS2 c Select Start Menu Folder Where should Setup place the program s shortcuts Setup will create the program s shortcuts in the following Start Menu folder To continue click Next If you would like to selecta different folder click Browse 8 Select Create a desktop icon if you want to create a shortcut icon on your desktop Select Create a Quick Launch icon and Setup creates an icon in the Quick Launch menu Click the Next button and the summary of the choices appears 18 Setup BoF PSS2 Select Additional Tasks Which additional tasks should be performed Select the additional tasks you would like Setup to perform while installing BoF PSS2 then click Next Additional icons Create a desktop icon BoF PSS2 User Manual 32 9 On this page you see all selections made on previous pages If you want to change the selections go back by clicking on the Back button If you accept selections click the Install button The installation will start 18 Setup BoF PSS2 Ready to Install Setup is now ready to begin installing BoF PSS2 on your computer Click Install to continue with
122. lement of queued transactions at given times in FIFO and priority Time time time time order by including transactions that are possible PNS PNFIFOPT max40 24h HH MM to settle with available liquidity the algorithm format removes transactions one by one for participants unable to settle to see if a partial settlement is possible Performs partial net settlement of queued transactions at given occasions in FIFO and priority order by including transactions that are PNS PNFIFOPD one possible to settle with available liquidity the algorithm removes transactions one by one for participants unable to settle to see if a partial settlement is possible Performs partial multilateral net settlement in DNS systems based on ascending order of user PNS PNDEQUED None defined fields one and two and the transaction identifier The algorithm removes transactions one by one for participants unable to settle to see if a partial settlement is possible Performs partial net settlement of queued transactions at defined occasions in defined Time time time ti order ascending user defined field one and two 1me time time time PNS 5 and transaction identifier by including ENDEQUET transactions that can be settled with available liquidity the algorithm removes transactions one by one for participants unable to settle to see if a partial settlement is possible Performs total net settlement of all queued transactions when suffi
123. luding transactions that can be settled with available one liquidity the algorithm removes transactions one by one for participants unable to settle to see if a partial settlement is possible The algorithm is performed after each transaction PNFIFOPC PNS PNDEQUEC queue entry so caution is needed with large transaction volumes 1 inutes interval 1 60 Performs partial net settlement of queued Pns NETEQEI Starting time hhmmss transactions at a given time interval during the BoF PSS2 User Manual 91 Type Name Parameters Description day in minutes in FIFO and priority order by including transactions that can be settled with available liquidity the algorithm removes transactions one by one for participants unable to settle to see if a partial settlement is possible The starting time parameter defines when the first netting occasion occurs Performs partial multilateral net settlement of queued transactions at the given time interval during the day in minutes in defined order ascending user defined field one and two and inutes interval 1 60 transaction identifier in the TRAN data by PNS PNDEQUEI Starting time hhmmss including transactions that can be settled with available liquidity the algorithm removes transactions one by one for participants unable to settle to see if a partial settlement is possible The starting time parameter defines when the first netting occasion occurs Performs partial net sett
124. m limit Maximum limit during the day calculated from the BLIM table 20 Average balance during the Average bilateral balance during the day a sending surplus is a negative day balance 21 Minimum balance Minimum bilateral balance during the day a sending surplus is a negative balance 22 Maximum balance Maximum bilateral balance during the day a sending surplus is a negative balance 23 Maximum queue value Maximum queue value during the day in this particular bilateral relationship sender s view i e the largest value in queue at any time Calculated based on TEST and QURE table Only values of payments which have been queued due to bilateral limits are reported here 24 Number of queued Number of queued transactions per day in this particular bilateral transactions relationship sender s view Calculated based on TEST and QURE table Only values of payments which have been queued due to bilateral limits are reported here 25 Total value of queued Total value of queued transactions per day in this particular bilateral transactions relationship sender s view Only values of payments which have been queued due to bilateral limits are reported here 26 Total time when limit The total time during the simulation day when the bilateral limit has been effective effective format hhhhmmss000 where 000 denotes milliseconds i e the time during which one or more transactions have been in the bilateral BoF PSS2 User Manual 69
125. ment On the Account comparison analyser screen 1 Select the Create new comparison view radio button and type the name of the comparison view If you wish to copy from an old comparison view select a comparison view from the drop down list Information about the selected comparison view appears on the screen Type in the name of the output file 3 If you want to display differences with the first selected simulation select the Show percentage or Show absolute check box or both 4 Add simulations and fields to the comparison report Select system ID from the drop down list Adding Select a value from the drop down list and add it to the table by clicking the Add to comparison button Deleting Select the row to be deleted from the table and click the Delete button 5 Click the Save in CSV file or Save in CSV file and open button Both actions save the report as a CSV file the Save in CSV file and open action also opens the file in Excel BoF PSS2 User Manual 74 3 11 10 Modifying an old comparison view at the account level On the Account comparison analyser screen 1 Select the Modify old comparison view radio button and select a comparison view Information of the selected comparison view is shown in the screen 2 Type the name of the output file 3 To see the differences from the first selected simulation select the Show percentage or Show absolute check box or both 4 Ifdesired change the comparison c
126. ms use time of netting algorithms PNS or MNS BoF PSS2 User Manual 98 The user specifies the processing patterns by selecting algorithms and assigning necessary parameters When DNS systems are simulated separately not as a part of a multisystem environment with a main RTGS system the initial liquidity needed for the processing can be introduced as initial balances or credit caps for each participant Credit without limits assigns open ended credit caps DNS systems use the same entry algorithm ENBASICI as other systems but have a special END algorithm ENDDNSOI for defining the end of day occasion and any intraday settlement cycles DNS systems use very few sub algorithms A set of deferred PNS algorithms PNFIFOPD and PNEQUED and a deferred MNS algorithm MNSETTLD are available These are performed at the end of each specified settlement cycle Payments can also be split according to value The table below shows examples of possible DNS configurations using the different main and sub algorithms The submission algorithm SUFIFOPR submits payments in time priority and transaction ID order If there are transactions in single or several systems competing for the same time slot then the transaction with the highest priority is chosen If there are still several competing transactions then the transaction ID order becomes the determining factor All systems are treated equally so the priorities used in different systems should be
127. n mode Setup Support Rules Reporting Services Native Mode Installation Type C Install and configure License Terms Installs and configures the report serverin native mode The report serveris operational after setup Feature Selection completes Installation Rules Install only Instance Configuration Installs the report server files After installation use Reporting Services Configuration Managerto 5 configure the report server for native mode Disk Space Requirements Server Configuration Reporting Services SharePoint Integrated Mode Database Engine Configuration install only Reporting Services Configura Installs the report serverfiles After installation use SharePoint Central Administration to complete the Error Reporting configuration Verify the SQL Server Reporting Services serviceis started and create at least one SQL lin con ServerReporting Services service application For more information click Help Installation Progress Complete 11 This guide does not cover the configuration of Reporting Services and this is why the selection install only is selected in the example If you feel confortable in configuring the Reporting Services now you can freely do so Note Reporting Services are not needed for running simulations nor operating the simulator It is a separate tool provided by Microsoft for reporting purposes 12 The installation of MS SQL SERVER is now ready In order to allow the simulator to connect
128. n routines like the booking routine Thus it contains the logics that follow booking events The SEH algorithm is optional and if one is defined it will override the default behaviour Algorithms may also introduce new types of events which will require new processing logics which can be introduced using SEH algorithms 4 4 Time estimation algorithms TEA Time estimation algorithms are used to estimate the time a specific process or algorithm would have used in the real world To do so the time estimation algorithms can use variables such as the amount of transactions amount of iterations used CPU time and lot of other possible variables related to a specific process for which time estimation is required The variables and parameters according to which a TEA algorithm can calculate a time estimate will only depend on the properties and the implementation of the algorithm Also the calling parent algorithm must be able to provide the required dynamic parameters to the TEA algorithm The parameters used to estimate time usage are the following e Dynamic parameters are the parameters the parent algorithm will provide to the TEA algorithm Dynamic parameter values are defined during simulation runs e Fixed parameters are defined in the system definition before the simulation and they are coefficients of the estimation function BoF PSS2 User Manual 109 To be able to attach a time estimation algorithm to a parent algorithm
129. nd prompt of the operating system i e opening up the command prompt and executing the command b Using a program which forms the script commands and submits them to the operating system to be executed in command prompt c Writing a text file with a batch of sequential commands to be executed The launch of the execution is done again via the command prompt The text file can be created with Notepad Excel or any other suitable program You can and probably have to use the graphical and command line user interfaces in turns Those tasks which are not repetitive are often easier to do using the graphical interface and those that have to be repeated several time with small changes in the parameters can be efficiently and rapidly executed using the command line interface Using both interfaces simultaneously is however impossible For detailed instructions and description of the CLL see the separate document BoF PSS2 Command Line Interface User Manual BoF PSS2 User Manual 82 4 Algorithms and user modules 4 1 Algorithms Algorithms is a common term applied to the simulator s special settlement functions such as splitting and netting Common algorithms are provided as part of the software and users can also develop their own algorithm modules The interface for BoF PSS2 algorithms and user defined modules is the same The available algorithms are divided into the following main groups Submission algorithms SUB fetch
130. ng an old comparison view at the account level 75 3 11 11 Deleting data from output tables sees 75 3 11 12 Executing os ones 76 3 12 NetWork analysis editum p as idus eae 76 3 12 1 Data SEleCHOI eerie neo Scb ds 77 3 12 2 Network Visualization cades 78 3 12 3 Network end keene 79 3 12 4 Generate stochastic dati o o doi eae 81 3 13 Operating the simulator via command line sees 81 4 Algorithms and user MOdulles cccscccssssccssssccssssccsssscssscsscsssssssssssseesees 83 4T 83 4 1 1 Algorithms for RTGS systems c cceeecceeseeceseseeeeseeeeeeteeeesaes 93 4 1 2 Algorithms for CNS systems eese 96 4 1 3 Algorithms in DNS Systems eeeeeeeeeeecesececeeeeeceeeeeeneeeeeaes 98 4 1 4 Algorithms in DVP PVP processing 100 4 1 5 Algorithms for systems with bilateral limits 101 4 2 Algorithms for special a aoa 104 4 2 1 Receipt reactive 104 4 2 2 Group codes for DVP linking multiple transactions 107 4 3 System event handler algorithms SEH eese 109 4 4 Time estimation algorithms TEA 109 4 5 User
131. nnection This includes connections that are protected with IPsec as well as those are not Allow the connection if it is secure This includes only connections that have been authenticated by using IPsec Connections using the settings in IPsec properties and rules in the Connection Security le B Customize Block the connection Leam more about actions 19 Select Allow the connection and click next Profile Specify the profiles for which this rule applies Steps Rule Type Protocol and Ports Action Profile L Name 29 New Inbound Rule Wizard When does this rule apply Domain Applies when a computer is connected to its corporate domain Private Applies when a computer is connected to a private network location Public Applies when a computer is connected to a public network location 20 Check all the boxes and click next BoF PSS2 User Manual 28 New Inbound Rule Wizard Specify the name and description of this rule Stee Rule Type Protocol and Ports Action Profile 21 Give the connection a name For example SQL Port 1433 Click Finish BoF PSS2 User Manual 29 2 3 Installing BoF PSS2 Here we describe installing the BoF PSS2 program using the installation wizard MySQL or MariaDB needs to be installed before starting the installation You can cancel the installation by clicking the
132. ns of specified simulation runs QURE Queue reason statistics Contains information about the reason why individual transactions were placed in the queue Changes in the queuing reasons are also reported BIST Bilateral limits statistics Contains end of day bilateral balances for each bilaterally limited pair of participants or accounts defined in BLIM input data The end of day bilateral balance is recoded only for pairs that have a bilateral limit defined in the BLIM dataset used in the simulation Balances for multilateral limits are not recorded CTST Comment transactions statistics Contains event information on commented transactions of specified simulation runs CCST Comment intraday credit statistics Contains information of changes on commented intraday credit limits of specified simulation runs BACO Basic comparison view Contains template data of the comparison analysis report A description of the detailed content of the database tables can be found in the separate document Descriptions of BoF PSS2 Databases and Files which can be found on the website of the simulator BoF PSS2 User Manual 121 5 3 3 Database table repairs If the Simulator and MySQL are closed by the user while the software is writing into some database table the database can become corrupted Typically this can happen if the simulator seems to be stuck and the user closes it with end task in Windows task manager As a result of corrupted data
133. nstalled before the installation of the Simulator 2 2 1 Installing MySQL This chapter describes how to install MySQL database server either one with commercial or GPL license Refer to the the next section if you prefer MariaDB The basic environment for the simulator is assumed to be a stand alone PC or a server in which the MySQL database is installed separately If you employ a PC or a server in which MySQL is already installed and used by other applications it is advisable to contact your in house technical support persons or consult the MySQL manual on multi application parallel use MySQL versions tested with the simulator are 4 1 and 5 0 Installation procedures of these two versions are identical Necessary steps for the installation of MySQL 5 0 are listed below Newer versions of MySQL are not yet supported 1 Extract the archive containing the MySQL setup program e g mysgl classic 5 0 83 win32 zip and run Setup exe Click next in the Setup Wizard window 3 MySQL Server 5 0 Setup Wizard Welcome to the Setup Wizard for MySQL Server 5 0 The Setup Wizard will install MySQL Server 5 0 release 5 0 84 on your computer To continue click Next WARNING This program is protected by copyright law BoF PSS2 User Manual 10 2 You have to accept the license agreement to proceed with the installation Please consult your commercial MySQL license or the GPL license Please read the follow
134. ojector TCP In connect to a Network Projector WSD Event connect to a Network Projector WSD Event connect to a Network Projector WSD Event connect to a Network Projector WSD Event BranchCache Content Retrie BranchCache Hosted Cache BranchCache Peer Discovery Connect to a Network Projector Connect to a Network Projector Connect to a Network Projector Connect to a Network Projector Connect to a Network Projector Connect to a Network Projector TIITII HII connect to Network Projector WSD In Connect to a Network Projector core Networking Destination Unreachable Core Networking core Networking Destination Unreachable Core Networking Networking Dynamic Host Configurati Core Networking Networking Dynamic Host Configurati Core Networking Networking Internet Group Managem Core Networking core Networking IPHTTPS TCP In Core Networking Networking IPv6 IPv6 In Core Networking core Networking Multicast Listener Done 1 Core Networking Networking Multicast Listener Query Core Networking Networking Multicast Listener Report Core Networking Networking Multicast Listener Report Networking Neighbor Discovery Adve Core Networking Networking Neighbor Discovery Solicit Core Networking Cor
135. on This is the algorithm to modify if new behavioural patterns for banks are introduced The other main algorithms are assigned on system level For example an RTGS and net settlement system can use different entry algorithms in the same simulation For every system the entry ENT and end of day END algorithms BoF PSS2 User Manual 83 must be specified The system event handler and settlement algorithm are optional The following sub algorithms can be used with ENT entry algorithms e Splitting algorithms SPL split a large transaction into sub transactions according to specific rules e Injection algorithms INJ transfer liquidity between ancillary and main systems The following sub algorithms can be used with SET settlement algorithms e Queue release algorithms QUE check and fetch individual transactions for possible settlement from the waiting queue in the order defined in the algorithm They are useful for settling previously queued transactions once an account or participant has received more liquidity e Splitting algorithms SPL split transactions into smaller sub transactions e Injection algorithms INJ transfer liquidity between ancillary and main systems e Bilateral off setting BOS checks and fetches transactions that can be bilaterally off set from the waiting queues e Partial netting algorithms PNS seek to settle a group of the queued transactions e Multilateral netting algorithms MNS attempt
136. on of SQL Server 2012 Installation Type Select this option if you want to install a new instance of SQL Server or wantto install shared components such License Terms as SQL Server Management Studio or Integration Services Feature Selection r TM Installation Rud Add features to an existing instance of SQL Server 2012 Instance Configuration MSSQLSERVER Disk Space Requirements Select this option if you want to add features to an existing instance of SQL Server For example you want to add the Analysis Services features to the instance that contains the Database Engine Features within an instance Server Configuration must be the same edition Database Engine Configuration Error Reporting Installation Configuration Rules Instance ID Features i Version mares MSSQL11 MSSQLSER SQLEngine SQLEngin 11 0 2100 60 Gmk SSMS 11 0 2100 60 Installed instances 5 Select install new SQL Server 501 Server 2012 Setup lolx License Terms To install SQL Server 2012 you must accept the Microsoft Software License Terms Setup Support Rules Installation Type License Terms Feature Selection Installation Rules These license terms are an agreement between Microsoft Corporation or based on where you E live one of its affiliates and you Please read them They apply to the software named above which includes the media on which you received it if any The terms also apply to any Microsoft Disk Spac
137. ondition Adding Select a value from the drop down list and add it to the table by clicking the Add to comparison button Deleting Select the row to be deleted from the table and click the Delete button 5 Click the Save in CSV file or Save in CSV file and open button Both actions save the report as a CSV file the Save in CSV file and open action also opens the file in Excel 3 11 11 Deleting data from output tables The output database needs cleaning up from time to time A good practice is to delete unnecessary data as soon as possible The disk size of the output database is not decreased when data sets are deleted For that purpose the database needs to be optimized or defragmented after the deletion This can be done by clicking the optimise output database button For large databases this can be a lengthy process Optimization of database will also improve the simulator performance if you have made large number of database modifications On the Delete output data screen 1 To delete an entire simulation click the Remove entire simulation column as selected If you want to delete only output statistics click the statistics tables you wish to delete and select 2 Click the Delete output data button 3 If several data sets have been deleted and the disk size of output database needs to be decreased click optimize output database button BoF PSS2 User Manual 75 3 11 12 Executing export Output data can be expor
138. onymous usage information Monty Program has created a Feedback plugin for MariaDB which if enabled collects basic anonymous statistical information This information is used by the developers to improve MariaDB Enabling this plugin is an easy way to help with MariaDB development Collected statistics and more information on the plugin can be viewed at http mariadb org feedback_plugin 8 Click Next when Ready to install MariaDB ie MariaDB 5 5 Setup Ready to install MariaDB 5 5 MariaDB Click Install to begin the installation Click Back to review or change any of your installation settings Click Cancel to exit the wizard Back Install BoF PSS2 User Manual 18 9 Copying the files file will take about half a minute 10 Click Next to finish the installation i MariaDB 5 5 Setup Completed the MariaDB 5 5 Setup Wizard Click the Finish button to exit the Setup Wizard MariaDB 2 2 3 Installing MS SQL Server These instructions aplly to Microsoft s SQL server 2012 EXPRESS MS SQL server 2012 requires either NET 3 5 SP1 or NET 4 framworks and service pack 1 to be installed on your computer Depending on the upgrade status of your computer theses might or might not be installed on your computer The installation software is likely to inform the user if one of these is missing 1 Download the MS SQL Server correspondin to your system requirements from http www microsoft com en us download details asp
139. or the BoF PSS1 simulation project Kasperi Korpinen Designer developer support of the BoF PSS2 simulator from version 2 4 0 co author of the reference manual and other user documents Hannu Lampela Technical advisor for BoF PSS2 Harry Leinonen adviser designer of the BoF PSS1 simulator project manager for the BoF PSS2 project designer developer of the BoF PSS2 simulator co author of the reference manual and other user documents Markus Penttil BoF PSS2 User Manual 138 Designer developer of the BoF PSS2 simulator for the version 2 4 0 co author of the reference manual and other user documents Kati Salminen testing and distribution of BoF PSS2 Kimmo Soram ki designer developer programmer of the BoF PSS1 simulator Kirsti Tanila tester and user of BoF PSS1 simulator Eero T l designer developer of the BoF PSS2 simulator for the version 3 2 0 co author of the reference manual and other user documents Petri Uusitalo distribution design and organisation Developers at MSG Software Oy The development of the BoF PSS2 simulator was contracted to MSG Software Oy based on the specifications developed by the Bank of Finland MSG personnel will also support the software and develop new parts and features Maritta Halonen user interface design co author of reference manual and data dictionary testing Markku Kilvio Project manager developer Timo Koistinen developer data import export and statistical analysis re
140. pant while multilimit only records and limits the total change of balance during the day Values for multilimit are given similarly as other bilateral limits i e negative value indicates that sending surplus is allowed Another way to describe the difference is to note that ICCL data can be used to define actual liquidity for participants while BLIM data only defines limitations for the flow of existing liquidity Thus such simulation would not be able to settle any payments regardless of the BLIM values where only bilateral limits would be defined but no liquidity would be given with DBAL or ICCL data or by granting of unlimited credit in the system setup The bilateral limits can be applied to one part of the transaction flow This is carried out by giving a high priority for those transactions which need to be settled regardless of bilateral limits All transactions that pass the bilateral limit control have also to pass the general liquidity availability control i e general credit limits may not be violated High priority transactions and those which have no bilateral limits affecting them are processed normally by the simulator When bilateral limits are violated because of high priority payments change in the limit value or forced settlement on payments e g at the end of day record is written to account violation statistics Simulated systems with bilateral limits require their own bilateral algorithms These are filtered to be visible
141. pants in the system with one or more transactions in the transactions in queue queue during the reported period 3 11 5 Account time series reports The account time series report gives the possibility to derive account balances and other numeric information at given points of time as the time series are based on equal intervals in minutes P3 UG ups cts In the Basic statistics reports screen Select a simulation from the drop down list Type in the name of the output file The default directory is OUTPUT REPORTS Select the Account time series report radio button Select a system ID from the drop down list Type in interval in minutes 1 60 in the edit box Select an account ID from the drop down list Click the Save in csv file or Save and open csv file button Both actions will save the report as a CSV file the Save and open csv file will open the file in Excel The report contains following fields Col Detailed name Description 1 Simulation date Date of simulation Presented according to date format defaults 2 Beginning of period Starting time of reported time series period 3 End of period End time of time series period 4 Balance Participant account balance at the end of corresponding period 5 Credit limit Credit limit value of the participant account at the end of corresponding period 6 Liquidity available Value of available liquidity of the parti
142. parator 4 The last selected decimal separator for the output CSV file is shown in the decimal separator field If you want to change it type in a new decimal separator Any type of separator is acceptable as long as it is different from the data separator 5 The last selected date format for the output CSV file is shown in the date format field To change it select a new one from the drop down list See also chapter 5 5 6 The last selected time format for the CSV file is shown in the time format field To change it select a new one from the drop down list See also chapter 5 6 BoF PSS2 User Manual 58 7 The last selected time transposition value is shown in the time transposition field The transposition value is given in hhmm format In export the transposition value is subtracted from all time values in DBAL values a whole day is subtracted or added This means there is no need to change the sign of transposition value given in the input phase For more detailed explanation see 5 7 Time transposition functionality 8 Type in the name of the output file The default directory is INPUT 9 Select the Create names of columns field when you want the names of the columns to appear in the output file 10 A file template describes which columns in the output file should correspond with particular fields in the database table To create a new template click the Create new template radio button and type in the name of the template
143. participants unable to settle to see if a partial settlement is possible Supports Credit cap limits starting from version 3 1 0 Performs partial net offsetting of bilaterally queued transactions in FIFO and priority order Time time time time at the specified times during the day The IBBFIFOPT max 12 24 h HH MM algorithm removes transactions one by one for format participants unable to settle to see if a partial settlement is possible Supports Credit cap limits starting from version 3 1 0 settlement is possible Supports Credit cap limits starting from version 3 1 0 Performs partial multilateral net settlement of queued transactions in FIFO and priority order by including transactions that can be settled with available liquidity the algorithm removes transactions one by one for participants unable to settle to see if a partial settlement is possible The algorithm is performed after each transaction queue entry so caution is Performs partial net offsetting of bilaterally queued transactions in user defined order at the Time time time time specified times during the day The algorithm BBS BBDEQUET 12 24 h HH MM removes transactions one by one for format participants unable to settle to see if a partial needed with large transaction volumes Performs partial multilateral net settlement of queued transactions in defined order ascending ser defined field one and two and transaction ID in the TRAN data by inc
144. patterns New settlement procedures e g new algorithms Structural changes e g the merging of several systems Changes in participant structure e g introducing new participants merging old participants and BoF PSS2 User Manual 7 New intersystem processes e g a shift to RTGS based DVP processing from end of day batch processing Liquidity is introduced the simulations either by defining daily opening balances and or intraday credit limits Liquidity can also be introduced via repo transactions and there are more alternatives available introducing only the money legs between the participants and the central bank account with abundant limit introducing in DVP mode the money legs in the RTGS system and the asset legs in a separate securities settlement system or having a special collateral account monetary value only in the RTGS or securities settlement system Participant level risk management features can also be directly introduced in simulations by using bilateral limits bilateral debit caps These can be defined at bilateral and also at multilateral level separately from other liquidity arrangements Simulations may use available data from current systems or fictional but representative data The simulator can be described as a deterministic model with stochastic input Data for some examples are distributed with the simulator software e g an RTGS simulation an RTGS system with an ancillary CNS o
145. ports Riku Peltokorpi developer user interfaces and system data imports Kai Rauha developer output reports Ville Ruoppi BoF PSS2 User Manual 139 lead developer simulator engine and algorithms system design technical and algorithm documents Leena Tyni project manager system user interface design testing co author of user documents Developers Contributors at the European Central Bank ECB Special acknowledgement is given to the ECB for assigning resources for the development of BoF PSS2 Kimmo Soram ki specifications and design testing of BoF PSS2 simulator with the BoF PSS1 simulator co author of user documents alpha and beta testing Sponsorship contributors Special acknowledgement is given to Bank of Canada the Bank of England and the Federal Reserve Bank of New York for their sponsorship in developing version 2 0 0 of the BoF PSS2 simulator which include such new features as bilateral limits improved efficiency enhanced database options and time transposition possibility For version 2 1 0 of the simulator special acknowledgement is given to Federal Reserve Bank of New York New features introduced in this version include the RRGS algorithms For version 3 1 0 of the simulator special acknowledgement is given to EBA Clearing S A S New features developed in co operation with them include credit cap functionalities of BoF PSS2 The sponsorship and cooperation of these contributors has made it possibl
146. ptions of different sets of algorithms that have been developed for special cases Often the settlement convention in question requires a special set of algorithms to be selected and these algorithms will probably not function as intended in other combinations A given set of algorithms need to be used as described and if used in other combination great caution is needed Following special algorithm sets are described here receipt reactive RTGS in chapter 4 2 1 DVP linking of multiple transactions i e Group code algorithms in chapter 4 2 2 4 2 1 Receipt reactive RTGS The general idea of the receipt reactive RTGS convention is that the participants can divert some part of the outgoing payment flow to a secondary queue Using a predetermined time period e g one minute one hour to cumulate the amount of incoming funds this secondary queue releases payments whose amounts aggregate up to but do not exceed this total amount of incoming funds Figure 1 contains a visual presentation of the dynamics in the receipt reactive model for two time periods This settlement convention is a type of liquidity management convention that functions independently from a participant s total liquidity balance The secondary receipt reactive queue complements the higher priority RTGS payment flow so that a participant s total liquidity balance never goes down under the starting balance because of the receipt reactive queue s handling of its lower p
147. quidity injections from participant INJ INVALUEI decimals fields in PART data hen excess liquidity becomes available the injected liquidity is released and returned to the source participant account again in payments with the same value defined in the parameter Typically liquidity injections can be used between a main and ancillary payment system Positive percentage format Injects an amount that corresponds to a given INJ 1 100 00 percentage of the credit limit available in the Injects exactly the required value of liquidity from the account defined in PART data INJ INJEXACT one Returns are also performed with exact amounts either according to what has been injected or ow much liquidity is available to return BoF PSS2 User Manual 89 Type Name BOS BOBASICI one BOS BOUSEDEF one BBS BBFIFOPC BBS BBDEQUEC None Parameters Description Performs bilateral off setting of waiting queues in FIFO and priority order and using available liquidity The algorithm is performed after each transaction queue entry and liquidity change so caution is needed with large transaction volumes Because of the bilateral processing the priority FIFO rule can become bypassed on system level in bilateral off setting Performs bilateral off setting of waiting queues sing available liquidity in the order defined by ser defined fields 1and 2 T USERCODI 2 in ascending order and the first code has the ighest pr
148. r DNS system and a real time DVP securities settlement system Some correct results are provided for all examples as illustration of what can be obtained as simulation output All examples are available in two versions with decimal commas and with decimal points The data for the examples and system descriptions are found in the directories C BoF PSS2 examples DECIMAL_COMMA and C BoF PSS2 examples DECIMAL_POINT BoF PSS2 User Manual 8 2 Installation Before using BoF PSS2 software you need to install the MySQL MariaDB database server Instructions for this are given below Information on how to order and download the BoF PSS2 program is posted at www bof fi sc bof pss 2 1 Hardware and software requirements Hardware At least a PC Pentium 4 class processor with at least 1 GB of main memory is recommended even though the simulator can be run with less memory and a slower processor Sufficient main memory is essential for rapid execution of large transaction volumes At least 2 GB of main memory is recommended for large simulations and 4 GB or more for very large simulations gt 1 2 million transactions and gt 1000 participants Note that the 32 bit version of the Java virtual machine is able to use only approximately 1 5 GB of memory In order to be able to allocate more memory than 1 5 GB to the Java virtual machine and the simulator 64 bit versions of the Java Runtime Environment and the simulator are needed Naturally the oper
149. rials provided by MySQL Caution is always needed when direct modifications are made in the database Backup copies and use of graphical tool such as MySQL Query Browser which shows visually the changes and allows undoing are recommended BoF PSS2 User Manual 115 Task How to do in Query Browser Notes Delete unused import or output templates Open system database and TEMP table Click edit from bottom toolbar Right click the row with the template to be deleted First column contains the template names Select delete row from the menu Click Apply changes from bottom toolbar Example of Query browser view is shown below Table contains also the built in ALL and EMPTY templates Delete user Open system db and ALDE User modules are in the modules table end of the table Don t Select and delete the line with delete the references to name of the unused module in built in algorithms the first column as was explained above Delete an Open System database and Do not delete project that unnecessary PROJ table was active when simulator project Select and delete the line with was last time running name of the unnecessary project in the first column as was explained above The project folder has to be deleted manually If this is done SD_PROJEID field in DEFA table of system database has to be also manually altered before simulator can start again
150. riority payments BoF PSS2 User Manual 104 The receipt reactive model requires a set of three special algorithms entry algorithm ENT ENTDUALI settlement algorithm SET SETDUALI and queue release algorithm for secondary queues QU2 QURRFIPR A time period parameter is introduced in the first of the user defined fields in the participant table PART This predetermines the amount of time during which incoming funds will be cumulated for the purpose of allowing payment release from the receipt reactive queue Note that there need to be a time period value for each participant using this feature If this value is zero or there is no period value given transactions for such participant stay in the secondary queue until it is closed The processing steps in the receipt reactive model can be described as follows in the entry phase the transactions can be divided into three streams immediately forced settlement of payments with highly urgent priority i e settled even if these violate all limits normal transactions for RTGS processing including the normal primary queue and low priority payments for the secondary queue during the open hours of the secondary queue in the settlement phase all normal RTGS algorithms can be called and in addition a QU2 algorithm for releasing transactions from the secondary queue in the queue release phase of the secondary queue the transactions which fit the positive net balance of that given period will
151. ror lists should be deleted The error list contains a reference to the incoherent input data record and information about the missing relationship data The dataset ID and a short description will be shown for each error Typical cross check errors are Date errors the dates in DBAL BLIM or ICCL tables are outside the simulation dates i e dates for which transactions are specified in the TRAN table Limits and balances should only be defined for those days which are simulated Time errors the transaction introduction times specified in the TRAN table are outside the opening hours of the simulated system as defined in system data Participant errors there are missing participants or typing errors in the participant data TRAN PART refers to transactions with missing participants in PART data DBAL PART refers to missing participant data for DBAL data and ICCL PART refers to missing participant data for ICCL data For all participants quoted in TRAN ICCL BLIM and DBAL records there must be the corresponding participant in the PART data If multiple systems or accounts are defined the participant is checked as a combination of the system ID participant ID and account ID BoF PSS2 User Manual 61 Erroneous system ID s in TRAN data if the from system id field is explicitly defined it should be the same as the ID of the system which this data set is attached to 3 9 4 Creating multi system simulations Simulations wit
152. sactions Note that the User code fields are of type VARCHAR 12 in order QUB QBUSEDBP None to carry all kind of data and thereby sorted in alphabetic ascending order which means that numeric values need to be same length in order to be sorted correctly In the bypass case transactions are processed in priority and FIFO order with the exception that if a transaction igher up in the queue cannot be settled it is bypassed and payments lower in the queue are tested for settlement in priority or FIFO order ntil no more settlable transactions can be found Supports Credit cap limits starting from version 3 1 0 Splits transactions into sub transactions according to specified maximum transaction ae Kangaro vole value For example if a max value of 500 is SPL SPMVALUI positive amount with two p ra specified a transaction of 1 350 is split into sub transactions of 500 500 and 350 with 350 the last to be processed Splits transactions using available liquidity For example when 450 units are available on the SPL SPAVLIQI one account a transaction of 1 350 is split into 450 and 900 of which the 450 is directly processed and 900 remains in the waiting queue Injects liquidity to a participant account when required in given amounts defined with the parameter value The source of liquidity and permission to perform injections are defined by sing the Liquidity injections from system two and Li
153. simulation click the Copy from old simulation ID button and select a simulation ID Information from the old simulation ID appears on the screen and can be changed 2 Type in the name of the simulation and the description These fields are optional 3 Select SUB submission algorithm from the drop down list Parameters of the selected algorithm are shown in the Parameters box Double click the box and type in the parameter values 4 The most important task is to select the systems and their data sets to be included in the simulation First select a system ID from the first drop down list Next select data sets from the other drop down lists System transaction and participant data sets are mandatory Only systems with all mandatory data sets available can be configured i e are shown in the selection window Credit limit and daily balances data sets are optional Add the selected values of the drop down lists to the table by pressing the Add update data set button If you want to change a row in the table select the system ID from the drop down list change the data sets you want and press the Add update data set button If you want to delete a row from the table select it from the table and click the Delete button 5 Click the Save simulation ID button 3 9 2 Modifying an old simulation ID Old simulation IDs may need to be modified for example in the case of errors in earlier specifications When the simulation ID is modified th
154. splayed BoF PSS2 User Manual 64 The contents of the progress bar during cross check are described in 3 9 3 During simulation execution the simulation ID and current date and time in the simulated environment are shown Date and time formats in progress bar are YYYY MM DD hh mm ss 000 In the beginning of each simulation text initializing is shown instead of time during start up period While writing output the time is replaced with the name of output table being written For small simulations the easiest way is just to select the right simulation ID required output tables and click on the Start button The batch option is convenient when making a large number of simulations by changing for example some parameters in the input data 3 10 4 Skip execute cross check Execute cross check is the default value It is advisable to cross check the data in the start of every simulation However a skip cross check feature is introduced which can be used on user s risk This is provided to speed up very large simulations where the cross check is slow and when the user is sure that there are no cross check errors in the data i e the same data sets have been cross checked earlier Skip cross check is selected by clicking on the radio button The risk is that there may still be a cross check error in the data and the simulation result will be unexpected In fatal cases e g missing participant ID in PART data the simulation will stop In
155. stimation algorithms TEA A TEA algorithm can be associated to an algorithm and used to approximate the real duration of given algorithm run This allows replication of precesses where settlement algorithms or processes are executed in parallel A time estimation algorithm can be added by double clicking the field after which the system opens a new time estimation algorithm definition view The public algorithms which are available in the general 3 0 0 version of BoF PSS2 do not currently support time estimation but this feature can be used in user modules Support for TEA will likely increase in the future according to demand 13 Click the Save system data set button BoF PSS2 User Manual 50 3 4 2 Modifying an old system data set You may want to change the information in an old system data set for example if there are errors in the first version 1 Click Select existing system ID radio button and select the correct system ID from drop down list 2 Click the Modify old system data set radio button and select the name of the data set from the drop down list Information about the selected system data set appears in the system data fields 3 To change information first delete old algorithm s and introduce new algorithm s or change parameter values 4 Click the Save system data set button 3 5 Importing data You can import data from files to the input database by accessing the Import input file screen The screen opens by
156. stored for future use Simulations can also be executed without saving the batch run information skip steps 1 and 4 below When exiting the window a warning will be displayed of unsaved data This does not refer to the output data you select to include in simulations in step 3 It will always be stored when the simulations are executed On the Simulation execution screen 1 Click the Create new simulation batch ID radio button and type in the simulation batch ID If you want to copy an old simulation batch ID select the simulation batch ID from the drop down list Information about the selected simulation batch ID appears on the screen 2 Select a simulation ID from the drop down list and add it to the simulation batch table by clicking the Add simulation ID button Repeat this step for all simulations you want to execute in same batch BoF PSS2 User Manual 63 If you want to remove a simulation from the batch select the simulation from the table and click the Delete button 3 Select output tables to be included in the simulations Only those statistics which are selected here are saved after the simulations Note that all the output reports are generated based on the data saved in output tables Selecting SYLS table System level statistics and ACST account level statistics will be sufficient for creating system and account level reports For time series reports the TEST table transaction event statistics must also be selec
157. system containing the smallest transaction IDs will be executed first when time and priority are the same BoF PSS2 User Manual 94 Some examples of possible logical algorithm combinations in RTGS systems RTGS description Sub alg 1 No queuing facility available transactions without liquidity remain unsettled 2 FIFO queuing 3 Bypass FIFO queuing 4 FIFO queuing and bilateral offsetting 5 FIFO queuing bilateral offsetting and full multilateral netting at a given interval 6 Queuing and splitting according to maximum value 7 Queuing and splitting according to available liquidity ENBASICI ENDRTGSI ENBASICI ENDRTGSI SEBASICI ENBASICI ENDRTGSI SEBASICI ENBASICI ENDRTGSI SEBASICI ENBASICI ENDRTGSI SEBASICI ENBASICI ENDRTGSI SEBASICI ENBASICI ENDRTGSI SEBASICI QUFIFOPR QUBYPAFI QUFIFOPR BOBASICI QUFIFOPR BOBASICI MNSETTLI QUFIFOPR SPMVALUI QUFIFOPR SPAVLIQI Can be used with credit without limits to find the upper bound and lower bound of liquidity Transactions are queued when liquidity is insufficient for settlement they are released in FIFO and priority order as liquidity becomes available from incoming payments or extended credits Same as 2 except that the FIFO order is bypassed to settle payments lower in the queue for which sufficient liquidity is available Transactions are queued in FIFO order and settled also with bilateral offsetting
158. systems are the ENT algorithms ENBASICI ENFORURG the END algorithm ENDRTGS1 and the SET algorithm SEBASIC1 ENT and END algorithms should be chosen for all normal RTGS simulations If a system with a queuing facility is simulated the SEBASIC1 algorithm should also be selected The ENFORURG algorithm enables settlement of highly urgent payments irrespectively of the liquidity constraints When the balance restriction is violated an account violation statistics entry is written in the AVST table The priority parameter defines the urgency level of transaction that will be settled immediately as highly urgent payments The other transactions are regarded as normal transactions which follow the general rules for settlement This makes it possible to find out what the efficient liquidity need lower bound would be if highly urgent payments were settled at once and less urgent payments were settled eg by the end of the day RTGS systems may incorporate payment splitting and liquidity injection sub algorithms These are invoked by the ENT algorithm if they have been specified When a queuing facility is included the SEBASICI algorithm invokes the specified sub algorithms in the order specified on the define system data screen to settle queued transactions SEBASICI will also invoke payment splitting and liquidity injection when these have been specified Currently the ENT and SET algorithms can only invoke a single sub algorithm of the same t
159. t Time format Transposition value Data set ID Database table PART Participant data m Eu iv Decimal separator A Output file C BoF PSS2 P_Testing OUTPUT Create new template a Create names of columns Use old template File colu DBc Man Var name Descriptive name 1 Simulation configuration Copy from old O Modify old simulationID 9 Create new simulation ID acs D Simulation name For defining data sets for the simulation first select the desired system ID in the corresponding drop down box above the table then the desired data sets Next press the Sub algorithm Parameters add update data set button to move the new SUFIFOPR iv data to the data table A system can be deleted from the table by selecting the system ID and pressing the Delete button Data sets to a Add update data set System ID SYCD TRAN PART FreeCred EXIMULT Description View errors Cross check Stop cross check BoF PSS2 User Manual 131 6 10 Simulation execution E execution x Simulation execution Project Testing _ n Copy from old Modify old simulation batch ID 9 Create new simulation batch ID simuision batch ID Select a simulation ID and add it to the table by pr
160. t Remember that also too large buffer reservations may slow down processes if the memory being left for other applications is insufficient BoF PSS2 User Manual 37 Simulator start up parameters The simulator itself is a Java application and it is run in a Java virtual machine The parameters of Java are defined in the start up script of simulator in file C BoF PSS2 PROGRAM Start up bat This file contains a code line starting the Java virtual machine and setting inter alia the memory limits for it The code line starts with command jre 1 7 bin java and continues with two memory parameters Xms m and Xmx m Here Xms sets the amount of memory given for the simulator applications directly at start up and Xmx sets the maximum amount of memory that can be given for the application The asterisks represent the amount of memory in megabytes The memory parameters of Java virtual machine in startup bat are automatically scaled by the installation program according to the amount of main memory in the PC or server The code lines in different setups are by default the following 1 jre 1 7 bin java Xms64m Xmx512m if the PC has 256MB or less of main memory 2 jre 1 7 bin java Xms128m Xmx512m if 512MB 3 jre 1 7 bin java Xms192m Xmx1024m if 768MB 4 jre 1 7 bin java Xms256m Xmx1408m if 1GB or more If the amount of memory in simulator PC is decreased after installation
161. t for which the vertex size would be BoF PSS2 User Manual 78 about 1 cm on the screen Increasing the number will shrink the vertices Decreasing the number will increase the vertices Same idea applies to the edge width normalization constant Vertex labels Tick the box to include vertex labels Switch to TRANSFORMING mode In the picking mode the arrows are colored according to the direction of the arrow with respect to the picked node s Use the Switch to PICKING TRANSFORMING mode button to change between the picking and transforming mode 3 12 3 Network Statistics Choose the Aggregation period Direction of analysis Edge weights and a set of indicators according to your taste Select the output xlsx file and click Generate Statistics You can follow the progress of calculation in the status console After done click Open in Excel to view the statistics If Excel does not start make sure that you have Excel installed and that the path that follows SET PATH in Start up bat in BoF PSS2 PROGRAM folder is pointing to correct folder in your Excel installation and that there is a file called Excel EXE in there BoF PSS2 User Manual 79 Aggregation Period Day Week Month Year Choose how frequently the statistical indicators are calculated Direction of Analysis Inward Outward Undirected These settings can be used to adjust the network to which the indicators are appl
162. t file screen The program checks that the data to be imported are valid The number of faulty rows is seen in the Rows with errors field Errors are listed and may be viewed by clicking the View error report button The error list file is located in the ERRORLIST directory of the project It is named ImportInputError_date_time csv date in format yymmdd and time in format hhmmss for example ImportInputError_090407_121030 csv Unnecessary error lists should be deleted BoF PSS2 User Manual 56 In the error list the row refers to the row number in the input file and the col to the column number in the input file The most common errors found are format errors For date and time fields the formats used in the imported file should be the same as specified in the data format defaults Numeric fields should be completely numeric and the decimal sign should be the same as stated in the import screen The simulator does not support thousand signs The error duplicate entry indicates that there are duplicated key information in the input file e g two rows with transaction data with coinciding transaction IDs In case of coinciding keys the first data row is imported and the next ones are discarded with an error message Different kind of format errors and delimiter changes can arise when the input CSV file has been exported from another program like Excel It is advisable to check the content of exported CSV files with a software showing the
163. t regional settings However with some special regional settings control characters seem to be converted and thereby corrupted Please try using some common regional setting alternative e g English UK or USA Regional settings are changed in the control panel section of Windows BoF PSS2 User Manual 137 9 Acknowledgements We would like to acknowledge the contribution made by the following developers and contributors who have assisted in creating the BoF PSS2 Payment and Settlement Simulator Developers Contributors at Bank of Finland The BoF PSS2 simulator is the second payment and settlement simulator built by the Bank of Finland The first one was originally developed for internal use only but it expanded well outside the Finnish borders The new version has been built based on experience gathered from the first but designed for international and independent usage and includes more features than its predecessor did BoF PSS2 also has a technical design that is more efficient for large simulations Acknowledgement is also given to the persons from the Bank of Finland who were involved in the first version because without the first version there would not have been a second one Virpi Andersson tester of user interfaces and simulations of BoF PSS2 Matti Hellqvist Designer developer support of the BoF PSS2 simulator from version 1 0 0 co author of the reference manual and other user documents Risto Koponen project manager f
164. tasks in priority FIFO order and in addition creates SUB GCSUB one the data structure linking grouped transactions together and includes all transactions with group code in it Performs the basic entry processes of a NT IGCENTI ons specified transaction Group codes are taken into account when direct settlement of transactions at the entry is tried Performs queue release continuously in bypass COUPE IFO logic taking into account the group codes This user module is implemented as PNS algorithm but it acts like a QUE algorithm it releases from queue only individual transactions or groups tied together with one eroup code Algorithm is executed for the first time at moment given with the optional second parameter or at beginning of day and after that Interval 0 60 at intervals given with the first parameter Starting time Processing of the queue is performed in bypass PNS GCQUBFD FIFO mode queue is ordered in Priority FIFO hhmmss optional order but if the first transaction cannot be settled next one is tried and so on When a settlable transaction is found the search loop is continued instead of restarting from the first transaction If settlable transactions are found during one loop new round is started During one execution of the algorithm the whole queue is worked through at most as many times as indicated with the third parameter maxRound This algorithm is not yet included in version 2 4 0 delivery
165. ted For bilateral reports BIST and QURE tables bilateral limit and queue reason Statistics are also needed To reduce output file size unnecessary output should be avoided especially in large simulations 4 Click the Save batch button 3 10 2 Modifying an old simulation batch On the Simulation execution screen 1 Click the Modify old simulation batch ID radio button and select the simulation batch ID from the drop down list Information about the selected simulation batch ID appears on the screen Change information 3 Click the Save batch button 3 10 3 Executing and stopping simulations Once a simulation batch has been defined it can be executed Single simulations can also be executed without defining a batch For very large simulations execution times can extend to several hours If errors are suspected the run should be stopped On the Simulation execution screen 1 Create or modify a simulation batch or just enter the simulation ID 2 Click the Start button to start the simulation execution 3 To abort the simulation execution click the Stop button Simulation runs involving hundreds of thousands of transactions complicated algorithms and low main memory resources may take hours The progress of simulation run is shown in progress bar windows The leftmost window shows the main type of ongoing activity Cross check simulation or writing output On the right side more detailed information is di
166. ted in CSV files using templates and selection criteria On the Export output file screen Select a simulation ID from the drop down list Select a database table from the drop down list Select data format defaults a eo Type in the name of the output file if you want to change it The default is the simulation id dash output table e g Sim8 TEST for the TEST table of simulation Sim8 5 A file template describes which columns in the file correspond to particular fields in the database table To create a new template click the Create new template radio button and type in the name of the template Type the order of the data columns in the output file into the first column of the data table using numbers starting from one If you want to use an old template click the Use old template radio button and select a template from the drop down list The selected template is shown in the first column of the data table Ready made templates for all output database tables are included in the simulator for exporting all data fields The names of these templates are the table name followed by ALL e g TEST ALL 6 Type in the optional selection criteria 7 Click the Execute export button Data from the selected database table will be exported to the output file On the Export output file screen To abort export while it is running click the Stop export button 3 12 Network analysis Since version 3 3 0 the simulator is equipped wi
167. tes the following directories MODULES contains built in modules algorithms code files PROGRAM contains sub directory JRE 1 7 for Java Run Environment necessary script files and the simulator proper BoF PS 52 jar USERMODULES for user defined modules and EXAMPLES The file ex _description txt contains information about the specific simulation example The application creates the directory PSS2_systemdb for the system database when the first project is defined It also creates a directory in the BoF PSS2 directory for each project using its name preceded by P_ and the following sub directories i projectname for the input database projectname for the output database ERRORLIST for error lists INPUT for input files OUTPUT for output files OUTPUT REPORTS for output reports NETWORKS for generated networks NETWORK REPORTS for network analysis results TEMP for temporary storage all files in TEMP can be destroyed when the simulator is not in use If you are going to make a large number of simulations analysing different aspects it can be good to organise them in separate projects Here is an example of a directory structure BoF PSS2 User Manual 112 BoF PSS2 P_PROJECT1 i_PROJECTI EE xl Edit View Favorites Tools Help BY C Eile Bak gt tj Qisearch
168. th an improved network analysis toolkit which is based on the Java Universal Network Graph Framework With the new toolkit network analysis can be easily and instantly applied to the transaction data imported into the simulator TRAN table or the transaction data of a simulation TEST table It is also possible to analyse a network generated by other means as long as the data format is qualitatively equivalent to transaction BoF PSS2 User Manual 76 data can be imported into the TRAN or TEST table by the import functionality of the simulator or by other means e g direct use of SQL commands The network analysis toolkit can be used to create visualization of a network and to calculate generally used network indicators 3 12 1 Data selection Follow these steps to select the data used for network visualization and network statistics At this point the data should be present either as a TRAN table in in the input database or TEST table in the output database Input data table Output data table Select the input data table or output data table Select your SystemID and DatasetID or SimulationID When the latter is selected the simulator automatically fetches the data to Begin date End date Begin time and End time boxes This can take a moment depending on the size of your data If the dates and times will not appear make sure that the data is in the correct format Begin date End
169. th directions Net value Directed One edge is bilaterally netted transaction volume between two nodes direction given by the direction of the net flow Undirected Same as directed but without the direction Vertex size Gross throughput The radius of each vertex is proportional to the sum of absolute values of transaction in and out of the vertex Connections The radius of each vertex is proportional to the number of connections to other vertices Betweennes Pagerank The radius of a vertex is proportional to the centrality of the vertex as defined by the indicator Vertex layout Four different automatic layouts of vertices are supported Circle layout arranges the vertices around a circle in alphabetic or numeric order Three other layouts arrange the nodes based on the links between them See the JUNG 2 0 1 API for more information about different layouts http jung sourceforge net site apidocs edu uci ics jung algorithms layout packag e summary html Edge size normalization constant and Vertex size normalization constant These optional constants can be used to scale up or down the width of edges or size of vertices to please the eye or in order to visualize different networks or the same network at different times using equivalent scales so that the visual differences can be directly compared For example if the vertex size is according to throughput the vertex size normalization constant is a vertex throughpu
170. the name of the output file The default directory is OUTPUT_REPORTS 3 Select the Bilateral limits time series report radio button 4 Select a system ID from the drop down list 5 Type in interval in minutes 1 60 in the edit box 6 Select participant account ID from the drop down list This will be the from account in the bilateral calculation reported 7 Click the Save in csv file or Save and open csv file button Both actions will save the report as a CSV file the Save and open csv file will open the file in Excel The report contains the bilateral limit and the current bilateral balance end of time slot the number and value of submitted and settled transactions for this pair of participants accounts during the time slot as well as the number and value of queued transactions Only transactions queued for the reason of bilateral limits will be reported MULTILIMIT as the receiving participant indicates multilateral values i e value calculated as a sum over all receiving participants Queue statistics reported under MULTILIMIT will include the transactions queued due to the multilateral limit Contents of this report are defined similarly as in the bilateral limits statistics report See 3 11 3 More information of using the bilateral limits is presented in the section 4 1 5 Algorithms for systems with bilateral limits Note This report can become huge if the number of participants accounts in the simulation is large
171. to settle all queued transactions in one netting event For special cases following separate algorithm categories are available e Queue release algorithm for secondary queue QU2 is used in special case of receipt reactive gross settlement e In simulations with bilateral limits own algorithms are used See section 4 1 5 for more details For example the bilaterally queued payments are released by QUB algorithms e Partial net settlement or bilateral offsetting of bilaterally queued payments is handled by BBS algorithms in simulations with bilateral limits For each payment and settlement system there can only be one specific sub algorithm defined of each category in the current ENT and SET algorithms This means that the main algorithms will use the same splitting and injection algorithms if these are defined The order in which the sub algorithms are set in the simulator control data specifications is important because sub algorithms are called from the main algorithms in the order they were set BoF PSS2 User Manual 84 The specific algorithms are attached to the specified payment and settlement systems on the System control data specification modification screen The required parameter values are given at the same time as a parameter string The basic controls are made for the parameters but it is essential that users are cautious when introducing parameters Any user defined modules must be introduced to the system by stating th
172. to the email address bof pss bof fi The updated guide will be posted on the web site www bof fi sc bof pss and will be distributed with any new version of the simulator If you have used your version already for some time it might be good to check for the updated trouble shooting guide on the internet No data sets to configure in the simulation configuration screen You must Define system data in the Input Generation Subsystem before the configuration screen can offer you data sets for the systems to simulate No settled transactions although simulations was run successfully The system could be lacking liquidity Check that you have granted enough liquidity via initial balances or intraday credit limits tables of free usage BoF PSS2 User Manual 136 The liquidity could also be lacking due to date and or time errors Check via View data sets that the date and time data for transactions initial balances and intraday credit limits are correct Check also that the open hours of the system is correctly specified hhmm in 24 hour format in the Define system data screen Be especially cautious if you have been using Excel for editing the data because Excel is often changing the date and time formats when writing to CSV files Check for instance with Notepad that the formats are in the correct format in the input CSV files No transactions found and simulation terminated done immediately The simulator and MySQL perform well with mos
173. transactions from waiting queues upon arrival of additional liquidity in priority and FIFO order The exact behavior depends on the calling algorithm QUFIFOPR performs FIFO on the set of transactions it receives as parameter The defaullt event andler calls it account by account which means that it acts as an account wise FIFO algorithm Releases transactions from waiting queues upon arrival of additional liquidity in the order defined by user defined fields land 2 T USERCODI 2 in ascending order and the first code has the highest priority This facilitates free definition of queue order by moving the right data to the user code fields e g the size of transactions Note that the User code fields are of type VARCHAR 12 in order to carry all kind of data and thereby sorted in alphabetic ascending order which means that numeric values need to be same length in order to be sorted correctly Releases transactions from waiting queues upon arrival of additional liquidity in the order defined by user defined fields land 2 by using the bypass option T USERCODI 2 in ascending order and the first code has the ighest priority This facilitates free definition of queue order by moving the right data to the ser code fields e g the size of transactions BoF PSS2 User Manual 87 Type Name Parameters Description ote that the User code fields are of type VARCHAR 12 in order to carry all kind of data and thereby sorted in alphab
174. troduced a link code is needed to define the linked transaction pairs If the system has both linked and unlinked transactions the unlinked transactions are specified in the CSV file with a null or blank entry i e an entry without data in that field e g or when semicolon is used as data delimiter BoF PSS2 User Manual 53 3 5 1 Creating a new data set The creating of a new data set function stores a new table in the input database The table is defined by its given data set ID and contains data in a specified CSV file On the Import input file screen 1 Select the appropriate database table type from the drop down list participant transaction daily balances credit table or bilateral limit table 2 The data separator is a mark that separates data fields from each other in the CSV file The last selected separator is shown in the field If you wish to change it type in a new data separator Any type of separator is acceptable as long as it differs from the decimal separator 3 The last selected input decimal separator is shown in the decimal separator field To change it type in a new decimal separator Any type of separator is acceptable as long as it differs from the data separator 4 The last selected input date format is shown in the date format field To change it select a new one from the drop down list Any type of separator is acceptable The dash does only symbol its position See also 5 5 Date format 5 T
175. true content of the CSV file e g Notepad Check delimiters date and time formats and decimal information because there seems often to be small differences in these details if the simulator and the CSV data exporting software have not been synchronized earlier 3 6 Viewing input data You can view participant daily balances intraday credit limit bilateral credit limit and transaction data sets with the View data sets screen This screen opens by clicking the View data sets button on the Main menu This is only suitable for small and moderate size data sets For transaction data only the first 10 000 rows of data set will be shown The export input file function is available to check larger data sets MySQL database can also be accessed and even modified directly with suitable software such as MySQL Query Browser or MS Access This possibility is described in more detail in chapter 5 25 2 On the View data sets screen 1 Select a data type 2 Selecta system ID 3 Selecta data set ID and data is shown on the screen Note Searching transaction data may take a while if the database table is large 3 7 Deleting input data You can delete participant daily balances intraday credit limit bilateral credit limit transaction and system data sets using the Delete data sets screen The BoF PSS2 User Manual 57 screen opens by clicking the Delete data sets button on the Main menu The Delete data sets screen is also helpful in givin
176. tures It can model most payment and settlement structures and processes found in real systems The simulator supports real time gross settlement RTGS continuous net settlement CNS and deferred net settlement DNS systems The processing options for these systems are defined by selecting appropriate algorithms For example QUE algorithms define how transactions are released from queues while PNS algorithms define when and how partial net settlement of queued transactions will be invoked The simulator also has multi system capabilities whereby a large number of interacting systems can be included in the same simulation see chapter 3 9 4 When transactions occur between systems they are booked in separate intersystem accounts There are two types of intersystem transactions BoF PSS2 User Manual 6 straightforward participant to participant transactions or system invoked injection or settlement transactions between a main and ancillary system In the straightforward case the sending system s transaction data include a reference to a receiving participant in another system It is possible in ancillary systems to define the end of day settlement system and accounts for each participant Intraday injections may also be defined These transfer liquidity between the main and ancillary system during the day according to participant needs Typical interacting system scenarios include Several independent RTGS systems constituting a n
177. ulator projects which are created with older version than 3 1 0 such debit and credit cap values which have same participants and same time label are necessary to be imported in one and same row of data file For more details see Descriptions of Databases and files Specified bilateral limits are valid until the simulation ends or the limit is changed Individual bilateral limits can be altered during the day and also completely removed by placing a special value 0 99 in the input BoF PSS2 User Manual 102 If a new value of bilateral limit is defined which causes the already existing bilateral balance to be infeasible the limit change will still take place The new limit will block all payments which would cause the situation to become still worse Thus violated debit cap does not prevent inflow of payments even if bilateral position would remain below the defined limit still after the payment is received Similarly violated credit cap position does not prevent outgoing payments In addition to bilateral limits also multilateral intraday limits can be defined in BLIM table by stating the receiving participant as MULTILIMIT This means that net value of payments sent and received between specified participant account and all others has to remain within the given multilimit The difference between multilimit functionality and normal intraday credit limit is that ICCL restriction can be affected by beginning of day balance of the partici
178. ur m minute and s second The maximum accuracy resolution is 1 1000000 second Hours are given according to the 24 hour system The separator colon only signifies the position of the separator in the input file The separator can be any character In output files the separator is always a colon when specified 5 7 Time transposition functionality A number of systems apply a processing day stretching over midnight Most often processing for the next value day is started on the evening of the previous day Currently in the simulator opening and closing hours of systems must be within same calendar day i e between 00 00 and 24 00 To circumvent this limitation transposition of time values can be performed in order to get the input data to match the simulator s 24 hour calendar day based timing Time transposition functionality can also be used for aligning systems working in different time zones or data collected from different time zones into one multi system simulation In such case the original time labels of simultaneous transactions from different time zones would be divergent Caution is needed in export and reporting of results of multi time zone simulations Most secure solution would be to use the results only in simulated mean time The time transposition feature performs specified time date conversions for the data automatically All information in the simulator and its databases will function in a 24hrs framework simul
179. w to change the way features will be installed Database instance Client Programs X Development Components X Third party tools This feature requires 134MB on X v HeidisQL your hard drive It has 2 of 2 x Debug Symbols subfeatures selected The subfeatures require 34MB on your hard drive locator soe BoF PSS2 User Manual 16 266 5 Untick the option Modify password for database user root ie User settings Default instance properties p MariaDB 5 5 database configuration MariaDB C Modify password for database user root New root password Enter new root password Confirm Retype the password Enable access from remote machines for root user Fl Create An Anonymous Account This option will create an anonymous account on this server Please note this setting can lead to insecure systems 6 Untick the Install as service option 2 Database settings Default instance properties MariaDB 5 5 database configuration MariaDB C Install as service Service Name Enable networking TCP port 5306 Optimize for transactions Uses transactional storage engine and strict SQL mode Buffer pool size 127 MB BoF PSS2 User Manual 17 7 Enable or disable the Feedback plugin je MariaDB 5 5 Setup MariaDB 5 5 setup A Submit usage information MariaDB C Enable the Feedback plugin and submit an
180. wever that this parameter does not affect the run time performance of database Table_cache determines the number of tables that can be open simultaneously This is set to the number of tables in one simulator project and does not need to be changed The values and combination of start up parameters can be changed in the my cnf file The configuration files provided with the simulator are modified versions of configuration files found in the standard MySQL MariaDB distribution These are located in c mysql directory with names like my small cnf and my huge cnf and can also be used to learn more about MySQL MariaDB start up commands A BoF PSS2 User Manual 39 complete list of parameters and their definitions are available in the MySQL manual chapter 5 2 3 2 8 Changing the database connector A JDBC driver is a software component enabling a Java application to interact with a database via the JDBC interface The default JDBC driver used by BoF PSS2 is Drizzle JDBC a BSD licensed native java JDBC driver for Drizzle and MySQL The Drizzle database connector is located in C B oF PSS2 PROGRAM DBConnectors DrizzleJDBC jar The user may wish to use another database connector This can be done by copying the corresponding jar file to DBConnectors folder and editing the lines in text file C B oF PSS2 PROGRAM DBConnectors BoF PSS2_DB properties The default connector is defined by the lines DBConnectorFile DrizzleJDBC jar JDBC DRIV
181. with the SQL SERVER you will have to define a port in to the windows Firewall Instruction can be found from http windows microsoft com en US windows7 Open a port in Windows Firewall BoF PSS2 User Manual 24 G Control Panel Review your computer s status Back up your computer Find and fix problems Network and Internet Connect to the Internet View network status and tasks Choose homegroup and sharing options Hardware and Sound View devices and printers _ Add a device Programs Uninstall a program View by Category Y User Accounts and Family Safety Add or remove user accounts Set up parental controls for any user Appearance and Personalization Change the theme Change desktop background Adjust screen resolution Clock Language and Region Change keyboards or other input methods Ease of Access Let Windows suggest settings Optimize visual display 13 From the Windows Start menu select Control Panel Allow a program through Windows Firewall Check firewall status earch Windows Help and Support for Fire 14 Write Firewall in to the search field and select Windows Firewall BoF PSS2 User Manual 25 windows Firewall lox Control Panel System and Security Windows Firewall search Control Panel m Control Panel Home Allow a program or feature through Windows Firewall Change notification settings Turn Windows Firewall on or
182. wo transactions together for DVP or PVP type of conditional settlement Group code algorithms generalise this setup and allow arbitrary many transactions to be tied together in a group where none of the transactions in the group is settled unless all the transactions in that group can be settled simultaneously Group codes for transactions are imported in the first user defined field of transaction data For each group the number of transactions in that specific group is also required This is imported also in transaction data in second user defined field of each transaction with a group code Group code algorithms were created as user modules and are included in the simulator as normal algorithm modules For linking transactions in a group efficiently together they maintain their own data structure This data structure is used by all group code algorithms and thus it is stored in the simulator engine in first of the user object data handles reserved for user module data Because of this other user modules which utilise the user defined fields 1 or 2 of transaction data or the userObjectDatal handle in the engine should not be used together with group code algorithms to avoid data conflicts User ObjectData handles are described in more detail in the algorithm descriptions and user module development guide document BoF PSS2 User Manual 107 Following algorithms are included in the group code modules Performs normal submission algorithms
183. x id 29062 2 Run the setup exe file The SQL Server installation center will open BoF PSS2 User Manual 19 wu SQL Server Installation Center EN x Planning aii New SQL Server stand alone installation or add features to an Ex existing installation Installation Launch a wizard to install SQL Server 2012 in a non dustered Maintenance environment or to add features to an existing SQL Server 2012 instance Tools gt pon from SQL Server 2005 SQL Server 2008 or SQL Server Options Launch a wizard to upgrade SQL Server 2005 SQL Server 2008 or SQL Server 2008 R2 to SQL Server 2012 Microsoft SQLServer 2012 3 For anew installation select New SQL Server stand alone installation or add features to an existing installation SQL Server 2012 Setup 1 151 Product Updates Always install the latest updates to enhance your SQL Server security and performance Product Updates Install Setup Files v Include SQL Server product updates Checking for updates 27 Skip Scan Read our privacy statement online Learn more about SOL Server product updates 4 If your computer is connected to the internet you might want to allow the installer to get updates BoF PSS2 User Manual 20 SQL Server 2012 Setup l5 xj Installation Type Perform a new installation or add features to an existing instance of SQL Server 2012 Setup Support Rules Perform a new installati
184. y deleting a project folder and all of its contents may lead to problems Necessary steps for deleting a project manually are described below while instructions for direct use of MySQL are given in chapter 5 2 Note that there is also possibility to decrease the size of existing simulator projects by deleting unnecessary input data or output results and by optimizing the database respectively This can be done simply with the simulator user interface see chapters 3 7 and 3 11 11 For deleting a project with name RemoveMe do the following steps Note that the only project in existing BoF PSS2 installation should not be deleted If you need to delete the only project create a new empty project to remain as the default project before proceding 1 Close BoF PSS2 and open preferred tool for directly editing MySQL database MySQL Query browser is used in these instructions see chapter 5 2 2 Select PSS2_systemdb by double clicking the database name in schemata on the right 3 Remove the line related to the project to be deleted from PROJ table This can be done e g by executing a query BoF PSS2 User Manual 47 delete from proj where SP PROJEID name of the project MySQL Query Browser root localhost 3306 PSS2 systemdb EN ol x Ele Edit View Query Script Tools Help delete from proj where SP PROJEID RemoveMe Q N Go beck Refresh Beater Stop Resultset 1 Schemata l Bookmarks _ gt
185. ype SPL INJ QUE BOS PNS or MNS e g there can only be one splitting algorithm in use for a given system In principle custom user modules with the possibility of handling multiple sub algorithms can BoF PSS2 User Manual 93 developed to overcome this limitation The different algorithm classes can be seen to have partially overlapping functions particularly related to queue arrangements This is because gridlock resolution algorithms such as PNS and MNS are independent from QUE algorithms in the way they order the transactions in the queues before processing As an example it is possible to create a system with QUE algorithm releasing individual transactions with priority FIFO logic and PNS algorithm which follows user defined queue order in selecting the transactions to be settled e g smallest first The table below shows examples of possible RTGS configurations using the main and sub algorithms In all cases the basic submission algorithm SUFIFOPR is used to submit payments in order based on time earliest first priority of the transaction descending order i e highest priority first and the transaction ID ascending order When transactions in the simulation compete for the same time slot then the transaction with the highest priority is chosen If there are still several competing transactions then the transaction ID order becomes the determining factor This means that in multisystem simulations the transactions in the
186. ystem BoF PSS2 User Manual The architecture of the PSS2 program is pictured below Workstation 552 Simulator Impor data 1 1 1 Input generation subsystem The input generation subsystem includes tools to import and validate transaction data participant data as well as data on daily account balances and credit limits All data are stored in database files The importer s main task is to check that the input data is formally valid and then transfer it into system database structures The correctness of the input data is vital Account numbers or identifiers in the transaction file must correspond to the account or participant data All input data must be presented in CSV comma separated values format but it can be entered in a user defined order The input data can be edited by exporting them from the input database as CSV files to Excel They can then be re imported after the changes Current Excel versions can handle about 65 000 rows If larger files need to be edited other tools e g Access or SAS or direct programming is usually needed In rare situations splitting tables in sub tables may be a suitable solution The simulator does not include a proprietary editor for this purpose BoF PSS2 User Manual 5 1 1 2 Simulation execution subsystem The simulation execution subsystem includes tools for configuring and running simulations It also contains the actual simulation and settlement logic It k

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