A STCK value, as Bob Wright mentioned, is considered "absolute time".
Absolute to UTC: apply leap seconds
Absolute to Local: apply leap seconds and time zone offset

UtcTime = StckTimeStamp - CVTLSO
LocalTime = StckTimeStamp + CVTLDTO - CVTLSO

Assuming addressability to the CVT, and assuming z/Architecture,
LG    R1,StckTimeStamp
ALG   R1,CVTLDTO
SLG   R1,CVTLSO
STG   R1,LocalTime

Without z/Architecture, 8-byte arithmetic can be accomplished using
register pairs, accounting for carry and borrow.

Peter Relson
z/OS Core Technology Design

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