{
  "tool_id": "art-44-arc-stablefx-model",
  "vectors": [
    {
      "name": "5m-daily-migrate",
      "policy_parameters": {
        "daily_fx_volume_usd": 5000000,
        "herstatt_spread_bps": 2.5,
        "non_cls_bilateral_bps": 8,
        "cls_annual_fee_usd": 100000,
        "stablefx_fee_bps": 1.5,
        "trading_days": 250,
        "impl_months": 3
      },
      "output_payload": {
        "verdict": "MIGRATE",
        "daily_fx_volume_usd": 5000000,
        "incumbent_annual_usd": 1026041.67,
        "cls_annual_usd": 400000,
        "stablefx_annual_usd": 187500,
        "annual_saving_vs_incumbent": 838541.67,
        "annual_saving_vs_cls": 212500,
        "herstatt_eliminated_ann_usd": 26041.67,
        "herstatt_share_pct": 3,
        "impl_cost_usd": 45000,
        "break_even_months": 0.6,
        "compliance_flags": [
          "ARC_STABLEFX_MIGRATION_RECOMMENDED",
          "PFMI_P12_HERSTATT_ELIMINATED",
          "BIS_FX_GLOBAL_CODE_P35_NETTING_BENEFIT"
        ]
      },
      "golden_hash": "6fbccc08309794245e7ce649260e36b0c983072d01595a0923379cbb2a0bf94a"
    }
  ]
}