A05 · PROCESS · universeGRA dossier · service level R0
GRACapital Markets NexusEstablished
Test in Nexus Universe

Test in Nexus Universe

The mission themes Capital Markets Nexus brings to the annual Nexus Universe programme, governed by The Global Risks Forum, with its own website at universe.nexus.

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Publisher
The Global Risks Alliance
Field
Capital markets and investment, Financial stability
Status
Established
Service level
R0: information and enquiries

Exercise control

Default management fire drill · Day 1 of 5 · Controlled · observed

  • Injects delivered
    10of 18Active
  • Median response
    39minWatch
  • Observer notes
    16
  • Stand-down
    Day 5plannedNormal
Injects runningGRA · Capital Markets Nexus

Inject timeline

  1. 09:00INJ-1Scenario opens: Default management fire drill
  2. 10:30INJ-2Securities regulator receives first signal
  3. 12:15INJ-3Escalation: second system affected
  4. 14:00INJ-4Media query and public message
  5. 16:30HOTHot wash, observers first

Player cells

Market operator438Active
CCP risk committee535Active
Securities regulator324Responding
Surveillance team431Responding

Capital Markets Nexus · Exercise controlExercise control, in outline: domain structure with placeholder names and illustrative values, not a record.

01In brief

The short answer.

Testing in Nexus Universe is how Capital Markets Nexus brings work to the annual programme governed by The Global Risks Forum, with its own site at universe.nexus. Its proposed mission theme is market liquidity under geopolitical shock. Selected work is tested under controlled conditions, reviewed and published with its limits; a theme is a proposal, not a confirmed exercise.

02Canvas

Scoping to review.

Canvas · scoping to reviewDesign, not a record
Test in Nexus Universe: a programme through its gatesA request with a named owner becomes a scoping note; inputs are qualified at a gate; delivery runs in workstreams; a controlled test and an independent review precede publication; the owner decides. Design of the process, not a record of a run.

Fig.A programme from scoping to the owner's decision. Design, not a record.

03Geography

Activity and exposure in East Asia.

For test in nexus universe, in GRA's spatial-finance reading, the map opens on night lights and population density with night lights tonight from NASA GIBS, framed on East Asia; every other NASA layer, live feed and forecast waits in the layer list.

The interactive map needs JavaScript; the layer list and sources are below.

Layers 2

Activity and exposure, for this page

Latest available

NASA GIBS / EOSDIS · ASTER GDEM (METI, NASA) · Blue Marble (NASA) · © OpenStreetMap contributors (ODbL) · Natural Earth

Loading the latest NASA imagery.

Drag to move. Ctrl or ⌘ and scroll, pinch or the buttons to zoom; hover for the values under the pointer; reset returns to the region.

For test in nexus universe, in GRA's spatial-finance reading, the map opens on night lights and population density with night lights tonight from NASA GIBS, framed on East Asia; every other NASA layer, live feed and forecast waits in the layer list.Satellite and model products as NASA publishes them, each with its own date; indicators, not assessments of any place; claim ceiling INTEGRATED.

Data: NASA GIBS · ASTER GDEM · Blue Marble · © OpenStreetMap contributors · Natural Earth · GDACS · CIESIN/Columbia, NASA SEDAC HBASE · NASA/NOAA VIIRSSources and licences

  • We acknowledge the use of imagery provided by services from NASA's Global Imagery Browse Services (GIBS), part of NASA's Earth Science Data and Information System (ESDIS). Colours redrawn from the published colour map; values averaged into H3 cells where shown (modified). NASA open data
  • We acknowledge the use of imagery provided by services from NASA's Global Imagery Browse Services (GIBS), part of NASA's Earth Science Data and Information System (ESDIS). Colours redrawn from the published colour map; values averaged into H3 cells where shown (modified). NASA open data
  • VIIRS Black Marble night-time lights, NASA Goddard Space Flight Center; distributed by the NASA Level-1 and Atmosphere Archive and Distribution System (LAADS DAAC); imagery via NASA GIBS. Colours redrawn from the published colour map; values averaged into H3 cells where shown (modified). NASA open data
  • Center for International Earth Science Information Network (CIESIN), Columbia University. 2018. Gridded Population of the World, Version 4 (GPWv4): Population Density, Revision 11. NASA Socioeconomic Data and Applications Center (SEDAC). Licensed under CC BY 4.0. Colours redrawn from the published colour map; values averaged into H3 cells where shown (modified). CC BY 4.0
  • VIIRS near-real-time products (flood, land surface temperature, snow cover, corrected reflectance), NASA LANCE; imagery via NASA GIBS. Colours redrawn from the published colour map; values averaged into H3 cells where shown (modified). NASA open data
  • NASA Fire Information for Resource Management System (FIRMS), VIIRS 375 m active fire product, NASA LANCE; vector tiles via NASA GIBS. Colours redrawn from the published colour map; values averaged into H3 cells where shown (modified). NASA open data
  • ASTER GDEM is a product of METI and NASA (ASTER Global Digital Elevation Model V003, NASA LP DAAC); imagery via NASA GIBS. Colours redrawn from the published colour map; values averaged into H3 cells where shown (modified). NASA open data
  • Made with Natural Earth. Free vector and raster map data @ naturalearthdata.com. Public domain
  • © OpenStreetMap contributors (ODbL), via NASA GIBS (coastlines, boundaries, roads and place names). Colours redrawn from the published colour map; values averaged into H3 cells where shown (modified). ODbL
  • Blue Marble, NASA Earth Observatory; imagery via NASA GIBS. Colours redrawn from the published colour map; values averaged into H3 cells where shown (modified). NASA open data
  • Context on the globe and flat map: coastlines, boundaries, roads and place names from NASA GIBS reference layers (OpenStreetMap data, ODbL, © OpenStreetMap contributors); Blue Marble imagery as an optional base; 3D terrain and the elevation read-out from the ASTER GDEM elevation colour index (5 m to 200 m classes, exaggerated for legibility). Boundaries are drawn as published and imply no position on any territory.
  • Globe: MapLibre GL JS 6.9.1, BSD-3-Clause, © MapLibre contributors.
  • Live: GDACS (EC JRC / UN OCHA) Events are indicative, not official warnings.
  • Context: CIESIN/Columbia, NASA SEDAC HBASE. Center for International Earth Science Information Network (CIESIN), Columbia University, and NASA Socioeconomic Data and Applications Center (SEDAC): Global Human Built-up And Settlement Extent (HBASE) 2010; Seto, Guneralp and Hutyra 2012, Global Grid of Probabilities of Urban Expansion to 2030; Global Urban Heat Island (UHI) Data Set, 2013.
  • Observed (EO): NASA/NOAA VIIRS (Suomi NPP). We acknowledge the use of imagery provided by services from NASA's Global Imagery Browse Services (GIBS), part of NASA's Earth Science Data and Information System (ESDIS).
  • Optional layers (35 sources in the layer list: live, forecast, observed and context) print their provider credit on the map and here when switched on; forecasts are model output and derived indices are estimates.

Layers and dates

  • Night-time lights, daily: VIIRS Black Marble (VNP46A2), NASA LAADS DAAC · 12 Oct 2026
  • Population density, 2020: Population: CIESIN, Columbia University, Gridded Population of the World v4.11 (2018), NASA SEDAC, CC BY 4.0 · static
  • Flood water, 3-day composite: VIIRS Global Flood Product, NASA LANCE · 14 Oct 2026
  • Land surface temperature, day, 8-day composite: VIIRS NOAA-20 Level 3, 8-day, NASA LANCE · 14 Sep 2026
  • Active fires and thermal anomalies, last day: VIIRS NOAA-20 375 m (FIRMS), NASA LANCE FIRMS · 13 Oct 2026

04Themes

Mission themes from this field.

  1. 01

    Market liquidity under geopolitical shock

    Proposed for controlled testing in the annual programme; a theme is not a confirmed exercise.

05Exercise design

Capital Markets Nexus in Nexus Universe.

ExerciseInjects designed by Capital Markets Nexus
Market liquidity under geopolitical shocka CCP member defaults, a strait closure moves commodity prices and a sovereign spread jumps after a disaster

Nexus Universe is governed by GRF; see exercises and learning. Capital Markets Nexus injects use synthetic values.

Capital Markets Nexus exercises test market liquidity, clearing and repricing of exposed issuers, with decisions left to the participants who hold them, such as securities regulators and market-structure researchers.

06How testing works

Controlled, reviewed and reversible.

Selected work is tested under controlled conditions, reviewed and then published with its limits. Results that pass go to Nexus Reports. The planned stand-down of each edition keeps review, reconciliation and corrections going after the event.

07Key terms

Terms used on this page.

Each term as this page uses it. Where a standard-setting body defines the term, the wording follows that body.

TermDefinition
Mission themeA subject a platform proposes for controlled testing in the annual Nexus Universe programme; a theme is a proposal until the programme confirms an exercise.
Simulation exerciseA practice, training or evaluation activity in which an emergency is described or simulated and participants respond as they would in reality, so that plans and capacities can be tested, as WHO's exercise manual describes.
Tabletop exerciseA discussion-based exercise in which participants talk through decisions in response to a scenario.
After-action reviewA structured discussion after an activity of what was planned, what happened, why, and what to change.
08Sources

Where this page's references lead.

The bodies and documents this page is read against. Status and editions change; each link goes to the issuing body.

09Connected

Where this page leads across the Consortium.

10Questions

Questions and answers.

Where is Nexus Universe?
It has its own website at universe.nexus. GRF governs the programme.
Related

Around Capital Markets Nexus.

Capital Markets Nexus

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