BA-403 · Lesson 5 of 9

Simulations: The Dress Rehearsal Before the First Session

Learn what a trading simulation is, which scenarios are worth practicing, and what each broker should check before launch.

10 min read Professional Trading Simulations
Track contents BIMx Trading Infrastructure
0/9 lessons0%
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BA-401 · The ARENA Trading PlatformARENA Trading and the BIMx Operating ModelThe BIMx Trading Session, State by State
BA-402 · Exchange Trader CertificationWho Can Become an Exchange TraderThe Certification Exam and Access Credentials
BA-403 · Trading SimulationsSimulations: The Dress Rehearsal Before the First Session
BA-404 · Becoming a BIMx MemberBecoming an Exchange Member, Step by StepClearing and Settlement Through the Single Central Securities Depository
BA-405 · The Broker's Role in Issuer AdmissionInitiating Participant and Intermediary ParticipantPreparing BVM Issuers and Municipal Bond Issues

Why simulations exist

According to the BIMx announcement of 28 September 2026, simulations are continuing in parallel with broker admission and the connection to the Single Central Securities Depository. The aim is for every participant to have already practiced the main workflows by the first live session, and for any technical or procedural issues to be identified early.

What is worth practicing

  • Connecting and logging in: each exchange trader from their own workstation, with their own user ID.
  • The full order lifecycle: entry, modification, cancellation, partial and full execution.
  • Moving through the market states: orders placed during pre-open, participation in the fixing auction, continuous trading, the close.
  • Unusual situations: suspension of an instrument, a rejected order, a lost connection.
  • The post-trade flow: the confirmations and report the broker receives after the session, in preparation for settlement.

How the broker prepares

  1. BeforeDecide who will take part, check the workstations and the connection, and prepare a list of scenarios you want to test.
  2. During the simulationNote the time and a description of any error or unclear point, with screenshots, and without any real client data.
  3. AfterSend your observations to BIMx through the designated channel and update the firm's internal procedures.

Key takeaways

  • Simulations reproduce a trading day in a test environment, with no legal or financial effect.
  • BIMx runs simulations in parallel with broker admission and the connection to the DCU.
  • It is worth practicing login, the full order lifecycle, the market states, and unusual situations.
  • The broker records errors and reports them to BIMx, then updates its internal procedures.
  • Simulations also prepare traders for the technical part of the certification exam.

Check your knowledge

Answer all the questions. If you answer all of them correctly, the lesson is marked as completed automatically.

Question 1 of 3What effect does a trade concluded in a simulation have?

Explanation: The simulation takes place in a test environment, with fictitious instruments and orders, and has no legal or financial effect.

Question 2 of 3During the simulation, an error occurs when canceling an order. What is recommended?

Explanation: The purpose of the simulation is to identify problems before launch, so errors must be documented and reported.

Question 3 of 3Which stage of certification is most directly linked to taking part in simulations?

Explanation: The technical part of the exam takes place in the ARENA test environment, which simulations help the exchange trader get familiar with.

Finished the lesson?Mark it as completed to track your progress.

Educational material only. It does not constitute investment, legal or tax advice. Numerical examples are hypothetical.