ESMA acknowledges however, that at present it may not currently be feasible to expect trading venues to synchronise their clocks or time stamp events to a granularity which is less than nanoseconds. As a result, ESMA has proposed capping the granularity and accuracy requirements at the nanosecond level. ESMA is the European Securities and Markets…
There will be a leap second June 30 2015 at midnight UCT. FSMLabs has tested TimeKeeper on Red Hat Linux and found that TimeKeeper handles the leap second properly. TimeKeeper avoids using the mechanism for managing the leap second that is sometimes built into Linux. By default TimeKeeper “slews” on the leap second to allow…
Summary: 1. TimeKeeper synchronized clocks can be accurate to within 100 nanoseconds using either Network Time Protocol (NTP) or 1EEE 1588 Precise Time Protocol (PTP). 2. Most non-TimeKeeper implementations of NTP (such as NTPd or Chrony) are usually no better than 1millisecond in accuracy – this includes many GPS based NTP network clocks. 3. There…
Leap seconds have caused tremendous problems with IT systems in the past. The last two, in 2012 and 2008 Download PDF
Although we’re just technologists here, and not experts on European Union Regulatory Law, MiFID II is very specific: Operators of trading venues and their members or participants shall synchronise the business clocks they use to record the date and time of any reportable event with the Coordinated Universal Time (UTC) issued and maintained by the…