[LEAPSECS] euro financial market clocks

[Brooks Harris]

At the bottom of page 521 is another link to -

Technological Challenges to Effective Market Surveillance Issues and 
Regulatory Tools
http://www.iosco.org/library/pubdocs/pdf/IOSCOPD412.pdf

Appendix E is interesting -

Appendix E - Mechanisms and Sources for Clock Synchronization by 
Jurisdiction

-Brooks

On 2014-07-19 06:07 PM, Steve Allen wrote:
> In May the european financial market authority issued a discussion
> paper with a response deadline of August 1 that suggests all
> transactions be timestamped to within 1 microsecond.
>
> the timing bits are on page 520ff of this
> http://www.esma.europa.eu/system/files/2014-548_discussion_paper_mifid-mifir.pdf
>
> They make no mention of leap seconds, note that UTC is the basis of
> the industry standard, and that a lot of sites are already employing
> GPS time and IEEE 1588.
>
> They pose 3 questions including this familiar problem:
>
>> Which would be the maximum divergence that should be permitted with
>> respect to the reference clock?  How often should any divergence be
>> corrected?
> --
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