To give our API users the ability to test their integration, Moment providesa comprehensive set of simulations that simulate real world scenarios in the market. Moment has build a venue simulator that simulates market behavior and runs that against the real system in UAT. This guide is meant to explain which instruments can be used to simulate certain scenarios in the market.

Market-Data

For Market-data, below has been configured to facilitate both two-sided and one-sided quotes.

CUSIP	Summary	Lifecycle
`880591DM1` `38143C3G4`	No Quotes	Simulate illiquid bonds
`3130A6RM1` `931142DB6`	Only Bids	Simulate bid side only market
`3130A2UW4` `38143CFG1`	Only Offers	Simulate ask side only market
All in-scope cusips except the above	Bids and Offers	Simulate two sides market

Trading

Moment's paper environment supports mock instruments with deterministic lifecycles for order testing purposes. All of these instruments will be published with constant offer price of 101, bid price of 100, and a max quantity of 500K.

CUSIP	Summary	Lifecycle
`912810SX7`	1 fill after 1 second	Approved by pre-trade checks. Wait for 1 second. Filled entirely.
`912810SU3`	1 fill after 1 minute	Approved by pre-trade checks. Wait for 60 seconds. Filled entirely.
`912810SS8`	2 fills, each after 1 minute	Approved by pre-trade checks. Wait for 60 seconds. Partial fill for half of the order only if quantity is greater than or equal to 2000 (notional). If order quantity < 2000, the order will be filled with one execution. Wait for 60 seconds. Fill for the remaining half of the order.
`912810RY6`	Hang until market close	Approved by pre-trade checks. Wait until market close. Expire to simulate market close.
`912810RX8`	1 fill after 1 minute, then hang until market close	Approved by pre-trade checks. Wait for 60 seconds. Partial fill for half of the order only if quantity is greater than or equal to 2000 (notional). If order quantity < 2000, the order will be filled with one execution. Wait until market close. Expire to simulate market close.
`912810UK2`	unsolicited cancel by venue	Approved by pre-trade checks. Canceled by venue.

Note: For orders to be filled, the order needs to be submitted with:

Trade price matching the quote from OrderBook, and
Trade size should be less than or equal to the quantity offered for the matching quote in OrderBook, and
If it's a partial fill scenario, and all_or_none is set to true, order quantity will be fully filled as long as there is liquidity on the order book.

If these conditions are not satisfied, simulator will send venue cancelation.

Fractionalized Bonds

If your organization is enabled for fractional bonds, you will have the ability to receive fractional liquidity on our UAT environment and test your integration through that.

Market-Data

For Market-data, below has been configured to facilitate both two-sided and one-sided quotes.

CUSIP	Summary	Lifecycle
`91282CJG7`	Bids and Offers	Simulate two sides market
`501044DM0`	Bids and Offers	Simulate two sides market
`3130A6RM1`	Only Bid quotes	Simulate bid side only market
`3130A2UW4`	Only Ask quotes	Simulate ask side only market

Trading

For Trading, below has been configured to have deterministic lifecycles for testing purposes.

CUSIP	Summary	Lifecycle
`91282CJG7`	Fill any quantity	Approved by pre-trade checks 2. Always filled by Moment Markets
`501044DM0`	Fill fraction at Moment Markets, Whole quantity at another venue	Approved by pre-trade checks. 2. Split order between fraction and whole quantities
Any cusip that has market data other than `91282CJG7` and `501044DM0`	Only Fill whole bond quantity	Approved by pre-trade checks. 2. Split order between fraction and whole quantities 3. Only whole quantity is filled. 4. Expire the remaining order at market close.
Any cusip that has market data other than `91282CJG7` and `501044DM0`	Hang until market close	Approved by pre-trade checks. 2. Expire the remaining order at market close.

Note that trade size is always in dollars and never in cents.