Suomen Pankki - Finlands Bank - Bank of Finland

The Bank of Finland Payment and Settlement Simulator BoF-PSS  

The Bank of Finland has developed a versatile Payment and Settlement System Simulator (BoF-PSS2) for making payments and settlement system simulations. The simulator can be used for analyzing liquidity needs, risk issues, settlement algorithms and changes in behavioral patterns, authority policies/regulations, settlement conventions and pricing/costs issues. The simulator is freely available for research purposes.

Version 4.1.0. has been released (26.6.2014).

In many payment systems the business day differs from the calendar days. This can cause problems when the payment system is modelled to the BoF-PSS2 simulator. In the recent version (4.1.0) this problem has been solved. There are also many quality improvements included into the latest version. For example, independent/dependent multiday simulations work now properly.  

Since the version 4.1.0 BoF-PSS2 is no longer distributed with an integrated MySQL connector and MySQL database. BoF-PSS2 also supports MariaDB. Database connections are handled via the JDBC interface. A BSD licensed Drizzle connector that can be used to connect to MySQL or MariaDB is provided. Users have to acquire a database software by themselves and they are allowed to change the connector to a more appropriate one if needed.

TARGET2 Simulator

A separate TARGET2 simulator version of BoF-PSS2 has been developed and delivered for the European System of Central Banks. This tool allows replication of  settlement processess of actual TARGET2 system. It is used by Eurosystem for quantitative analyses and numerical simulations of TARGET2.

TARGET2 simulator has been jointly delivered by Suomen Pankki (Bank of Finland) and the 3CB (Banca d'Italia, Deutsche Bundesbank, Banque de France) based on a desicion of ECB Governing Council.

Seminars and workshops around the BoF-PSS simulator

The twelfth Bank of Finland Payment and Settlement Simulator Seminar will be organised on 28- 29 August 2014 in Helsinki. 


Coming Events 

12th simulator seminar in August 2014 in Helsinki

Invitation is now released.

Training course for simulator users

Bank of Finland organises introductory training courses for simulator users. The course aims at providing necessary skills for efficient use of BoF-PSS2 with hands on computer class exercises.  It also presents numerous examples from real studies where the tool has been used. For more details see the training course outline.  Minimum attendance to the session is four participants.

Basically Trainings are organized upon demand and it is also possible to order a Training to be held onsite outside the proposed dates.

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