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This paper is devoted to the development of a real-time hybrid simulator, which integrates the electromagnetic transients (EMT) simulator and transient stability (TS) simulator. It briefly discusses how two very different simulators can be coordinated to work together and produce accurate solution. A new parallel approach is presented to allow both the EMT and TSP simulators to run in parallel and interact with each other within the real-time operation constraint. A simulation case study based on the well-known New England 39-bus test system is also given to illustrate the correctness of the proposed parallel interaction protocol.