Experience with MiFIDII Implementation
Experience with MiFID2 Implementation MiFID II Clock Sync Lessons Learned FSMTime gives a talk at the Time and Money Conference 2018, NY Stock Exchange. See Presentation
MiFID II – Ten Things You Need to Know About Clock Sync
Not only does MiFID II explicitly require working clock synchronization, many of the recordkeeping requirements cannot be met if time is not verifiably synchronized during the entire trading day. Here’s what you need to know. The Card Players (Les Joueurs de cartes) by Paul Cézanne (Public Domain, Source) The microsecond and millisecond clock accuracy requirements in the…
ESMA Sub-Nanosecond time standard
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…