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.org> WGS-84 (GPS)
UCO/Lick Observatory--ISB Natural Sciences II, Room 165 Lat +36.99855
1156 High Street Voice: +1 831 459 3046 Lng -122.06015
Santa Cruz, CA 95064 http://www.ucolick.org/~sla/ Hgt +250 m
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