Abstract-Co-simulation opens new opportunities to combine mature ElectroMagnetic Transients (EMT) and Phasor-Mode (PM) solvers, and take advantage of their respective high accuracy and execution speed. In this paper, a relaxation approach is presented, iterating between an EMT and a PM solver. This entails interpolating over time the phasors of the PM simulation, extracting phasors from the time evolutions of the EMT simulation, and representing each sub-system by a proper multiport equivalent when simulating the other sub-system. Various equivalents are reviewed and compared in terms of convergence of the PM-EMT iterations. The paper also considers the update with frequency of the Thévenin impedances involved in the EMT simulation, the possibility to compute the EMT solution only once per time step, and the acceleration of convergence through a prediction over time of the boundary variables. Results are presented on a 74-bus, 23-machine test system, split into one EMT and one PM sub-system with several interface buses.