[LEAPSECS] one second tolerance

[Tony Finch]

On Wed, 9 Feb 2011, Ian Batten wrote:

>

> Extra fun will ensue if England moves to full-time daylight saving or to

> WET, both of which have a non-zero chance of happening, while Scotland

> remain on their existing arrangements, which also has a non-zero chance.


You mean CET. (We are currently on WET.


> Timestamping financial events to 1s resolution opens up the whole "is UK

> legal time UT1 or UTC?" question again, too.


Not really, since a particluar market can specify which reference clock
its traders must use.

Having said that, I had a brief look at the rules of the London Stock
Exchange which says in rule 3040 in the "off order book trading rules":
"Member firms shall submit the exact date and time of when a trade is
agreed to the nearest second" - but it doesn't specify any reference
clock.

Tony.
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