[vc_row css_animation=”” row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”center” background_image=”319″ background_image_as_pattern=”without_pattern” z_index=”” el_class=”StatikTopHeaderHeight”][vc_column][vc_row_inner row_type=”row” type=”grid” text_align=”left” css_animation=”” el_class=”StatikTopHeaderPosition”][vc_column_inner][vc_column_text]<\/p>\n
[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row][vc_row css_animation=”” row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern” z_index=”” css=”.vc_custom_1538990671402{background-color: #ffffff !important;}”][vc_column][vc_row_inner row_type=”row” type=”grid” text_align=”left” css_animation=””][vc_column_inner][vc_empty_space height=”50px”][vc_column_text]<\/p>\n
Stock Exchanges<\/strong><\/a>\u00a0& Banks<\/strong> need a 100us accuracy \u00a0(at 1us resolution) to ensure financial\u00a0FINRA, EMIR \u00a0<\/strong>MiFID II directives<\/strong><\/a>\u00a0(RTS25). The\u00a0<\/span>HFT \u00a0<\/strong>matching engines based on sequence need to understand order of trade execution. Network low latency is important for colocation and must ensure 10mln tradings\/1s. Today NYSE Wall Street and LSE requests more frequently a nanosecond accuracy coming via <\/span>White Rabbit<\/a>.<\/strong><\/p>\n [\/vc_column_text][vc_empty_space height=”50px”][vc_single_image image=”2531″ img_size=”full” alignment=”center” onclick=”custom_link” qode_css_animation=”” link=”http:\/\/data.europa.eu\/eli\/reg_del\/2017\/574\/oj”][vc_empty_space height=”50px”][vc_column_text]<\/p>\n Self-proclaimed accuracy is not enough \u2013 you must be able to prove, or trace, your accuracy to a known reference time source.\u00a0 In the US, this would be UTC(NIST), in Russia UTC(SU), in EU – depends on country. Inside EU, each country has it’s own UTC(k) maintained by local \u00a0National Institute of Measurement like NPL-UK, INRIM-Italy, GUM-Poland. \u00a0The traceability is a multi-faceted aspect regulations. \u00a0The FINRA & MiFID II for example, states “Members must document and maintain their clock synchronization procedures”. Among other requirements, members must keep a LOG of the times when they synchronize their clocks and the results of the synchronization process (s<\/em>ystem logging).\u00a0The first step in meeting these requirements is auditing changes and synchronization of the local system.\u00a0<\/em>\u00a0These logs can be used to answer the questions \u00a0such as: (1)\u00a0What is the chosen time server and synchronization frequency\u00a0(2) When was the last synchronization and results of that synchronization (3)\u00a0What actions were taken after the synchronization – did it \u00a0discipline the clock?\u00a0Finally, even \u00a0best LOG tracing mechanizm hes no power without \u00a0PKI e-signing. The TSA Timestamping RFC3161 is important \u00a0for long-term preservation of financial operations.<\/p>\n [\/vc_column_text][vc_column_text]<\/p>\n MiFID II useful links:<\/strong><\/p>\n [\/vc_column_text][vc_single_image image=”3213″ img_size=”40×40″ alignment=”center” onclick=”custom_link” qode_css_animation=”” link=”https:\/\/eur-lex.europa.eu\/legal-content\/EN\/TXT\/PDF\/?uri=CELEX:32017R0574&from=EN”][vc_column_text]<\/p>\n MiFID II Directive EU\/2017\/574 (2014\/65\/EU)<\/a><\/p>\n Windows NTP software for MiDID-2<\/a><\/p>\n Windows Time Traceability<\/a><\/p>\n Windows Server 2019 Accurate Time<\/a><\/p>\n [\/vc_column_text][\/vc_column_inner][\/vc_row_inner][vc_empty_space height=”50px”][\/vc_column][\/vc_row][vc_row css_animation=”” row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern” background_color=”#ffffff” z_index=”” css=”.vc_custom_1540367660074{background-color: #f6f6f6 !important;}”][vc_column][vc_row_inner row_type=”row” type=”full_width” text_align=”left” css_animation=””][vc_column_inner][vc_empty_space height=”50px”][vc_column_text]<\/p>\n \u00a0Recommended Products<\/strong><\/p>\n [\/vc_column_text][vc_empty_space height=”50px”][\/vc_column_inner][\/vc_row_inner][vc_row_inner row_type=”row” type=”grid” text_align=”left” css_animation=””][vc_column_inner width=”1\/4″][vc_single_image image=”1161″ img_size=”” alignment=”center” onclick=”custom_link” qode_css_animation=”” qode_hover_animation=”zoom_in” el_class=”ImgShadow” link=”https:\/\/elpromagroup.wersjaprojektowa.pl\/elpromatime\/portfolio_page\/time-server-nts5000\/”][vc_empty_space height=”20px”][vc_column_text]<\/p>\nTraceability<\/h2>\n