Session Lifecycle

AIS operates in discrete trading sessions with a defined lifecycle.

Session States

stateDiagram-v2
    [*] --> Scheduled
    Scheduled --> PendingApproval: Schedule triggers
    PendingApproval --> Active: Manual or auto approval
    PendingApproval --> Rejected: Approval denied
    Active --> Ending: End condition met
    Active --> Killed: Kill switch activated
    Ending --> Completed: Graceful shutdown
    Killed --> Completed: After cleanup
    Completed --> [*]

Lifecycle Stages

Scheduled

The session is configured but not yet active. Scheduling can be time-based or manual.

Pending Approval

The session awaits approval before trading begins. This gate ensures human oversight of session parameters (mandates, risk limits, strategies).

Active

The trading loop is running. Each cycle:

1. Fetch market data
2. Run strategy agents
3. Arbitrate signals
4. Allocate portfolio
5. Validate risk
6. Execute approved orders
7. Update monitoring

Ending

Graceful shutdown initiated. The system:

• Stops generating new signals
• Allows pending orders to complete or cancel
• Takes final portfolio snapshot
• Generates session review

Killed

Emergency stop via kill switch. All open orders are cancelled immediately.

Completed

Session is done. A review is generated with:

• P&L summary
• Signal statistics
• Risk events
• Execution quality metrics

Configuration

Session parameters are set at startup via configuration or API:

• Strategies — Which agents are active
• Mandates — Allocation limits and instrument restrictions
• Duration — Maximum session length
• Risk budget — Session-specific risk limits