[LEAPSECS] Time Synchronization in Financial markets

[Warner Losh]

On Sat, Oct 8, 2016 at 2:43 PM, Steve Allen <sla at ucolick.org> wrote:
> On Fri 2016-10-07T11:48:25 -0600, Warner Losh hath writ:
>> Accurate, Traceable, and Verifiable Time Synchronization for World
>> Financial Markets
>>
>> http://nvlpubs.nist.gov/nistpubs/jres/121/jres.121.023.pdf
>>
>> Market synchronization requirements today are 1s. However, in August
>> 2017 they become 50ms. Good thing normal market hours on the US
>> exchanges avoids the leap second...
>
> Notably missing in this document is any mention of the term leap second.
> More surprising is no mention of TAI, despite the numerous references
> to the use of IEEE 1588 PTP for the timing systems.
> It's like getting a tour map that describes the route but fails to
> mention that along the way there's a bridge out.

Yes, it's like all the other systems I worked on that required
external UTC to be correct at all times, even when the GPS receiver
doesn't yet know the current number of leap seconds. I'll have to pass
the leap second comment along to the author...

Warner