[LEAPSECS] Time Synchronization in Financial markets

[John Sauter]

On Sat, 2016-10-08 at 15:58 -0600, Warner Losh wrote:
> 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

I took the lack of mention of leap seconds to mean that leap seconds
ere not a problem.  The output of the NISTDC units is an astonishingly
 accurate 1 pulse per second.  That feeds NTP, which handles leap
seconds using a table.  As long as the table is kept up to date,
everyone agrees on each second's name.
    John Sauter (John_Sauter at systemeyescomputerstore.com)
-- 
PGP fingerprint E24A D25B E5FE 4914 A603  49EC 7030 3EA1 9A0B 511E
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