Re: [LEAPSECS] euro financial market clocks
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? -- Steve Allen s...@ucolick.orgWGS-84 (GPS) UCO/Lick Observatory--ISB Natural Sciences II, Room 165Lat +36.99855 1156 High StreetVoice: +1 831 459 3046 Lng -122.06015 Santa Cruz, CA 95064http://www.ucolick.org/~sla/ Hgt +250 m ___ LEAPSECS mailing list LEAPSECS@leapsecond.com http://six.pairlist.net/mailman/listinfo/leapsecs ___ LEAPSECS mailing list LEAPSECS@leapsecond.com http://six.pairlist.net/mailman/listinfo/leapsecs
Re: [LEAPSECS] euro financial market clocks
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, Yes, they do. See section 8. i. and ii. on page 521. -Brooks 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? -- Steve Allen s...@ucolick.orgWGS-84 (GPS) UCO/Lick Observatory--ISB Natural Sciences II, Room 165Lat +36.99855 1156 High StreetVoice: +1 831 459 3046 Lng -122.06015 Santa Cruz, CA 95064http://www.ucolick.org/~sla/ Hgt +250 m ___ LEAPSECS mailing list LEAPSECS@leapsecond.com http://six.pairlist.net/mailman/listinfo/leapsecs ___ LEAPSECS mailing list LEAPSECS@leapsecond.com http://six.pairlist.net/mailman/listinfo/leapsecs
