We present here a fast and flexible software -SimPhy-for the simulation of multiple gene families evolving under incomplete lineage sorting, gene duplication and loss, horizontal gene transfer -all three potentially leading to the species tree/gene tree discordance-and gene conversion. SimPhy implements a hierarchical phylogenetic model in which the evolution of species, locus and gene trees is governed by global and local parameters (e.g., genome-wide, species-specific, locus-specific), that can be fixed or be sampled from a priori statistical distributions. SimPhy also incorporates comprehensive models of substitution rate variation among lineages (uncorrelated relaxed clocks) and the capability of simulating partitioned nucleotide, codon and protein multilocus sequence alignments under a plethora of substitution models using the program INDELible. We validate SimPhy's output using theoretical expectations and other programs, and show that it scales extremely well with complex models and/or large trees, being an order of magnitude faster than the most similar program (DLCoalSim). In addition, we demonstrate how SimPhy can be useful to understand interactions among different evolutionary processes, conducting a simulation study to characterize the systematic overestimation of the duplication time when using standard reconciliation methods. SimPhy is available at https://github.com/adamallo/SimPhy, where users can find the source code, precompiled executables, a detailed manual and example cases.. CC-BY 4.0 International license peer-reviewed) is the author/funder. It is made available under a The copyright holder for this preprint (which was not . http://dx.doi.org/10.1101/021709 doi: bioRxiv preprint first posted online Jun. 30, 2015; 3 Recent advances in sequencing technologies have furnished the expansion of genomewide phylogenetic studies, unveiling not only extensive phylogenomic incongruence (Jeffroy, Brinkmann, et al. 2006;Salichos and Rokas 2013) but also bringing back to the spotlight the consideration of how ancestral polymorphisms sort within populations (Edwards 2009). Indeed, it is well known that gene and species phylogenies can be inconsistent due to evolutionary processes like incomplete lineage sorting (ILS), gene duplication and loss (GDL) and horizontal gene transfer (HGT) (Goodman, Czelusniak, et al. 1979;Pamilo and Nei 1988; Takahata 1989;Maddison 1997;Page and Charleston 1997). Not surprisingly, the gene tree / species tree 'dilemma' has received a lot of attention in recent years, and consequently a plethora of species tree reconstruction methods have been published (Chaudhary, Bansal, et al. 2010; e.g., Heled and Drummond 2010;Liu, Yu, et al. 2010;Boussau, Szollosi, et al. 2013;De Oliveira Martins, Mallo, et al. 2014;Mirarab and Warnow 2015; see Mallo, de Oliveira Martins, et al. 2014a for a review). Although several benchmarks of species tree methods have been carried out (Leache and Rannala 2011; Yang and Warnow 2011;Bayzid and Warnow 2013;Mirarab, Bayzid, et al. 2014) the...