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Quick query

Why is accurate time important in banking & finance?

07th, July, 2022

Particularly highly sensitive risk sectors such as banking & finance depends on the reliability and availability of time systems. Uninterrupted operations and transactions recording are required at all times. High accuracy, in the micro or nanosecond range, are essential for traceability and also to fulfil legal requirements such as the MIFID II regulations.

PTP Grandmaster for absolutely accurate timeference

In many IP networks, NTP (Net Time Protocol) is used to provide clients and peripheral systems with a precise time. If, for example, a very high time accuracy is required due to legal requirements, the use of the PTP (Prescision Time Protocol) protocol is indispensable.

The Mobatime Grandmasters are combined time and synchronization systems that stand for maximum precision and availability. They can be used as IEEE-1588 PTP Grandmaster and thus meet the basic conditions, for example, to comply with the strict requirements of MiFID II for time accuracy in the field of high-frequency trading.

Thanks to extremely stable and high-precision oscillators (rubidium), the Grandmasters are also very accurate in freewheeling, which is absolutely necessary to bridge any failures of the external signal source (GNSS).

Current: Implementation of the requirements of MiFID II in the financial sector

The high-precision period is a current topic for the financial sector. The requirements of MiFID II (Markets in Financial Instruments Directive) must be implemented. The regulations will come into force in January 2018 and have the goal of increasing transparency in the financial sector. All transactions in retail must now be provided with a precise time stamp.

MiFID II currently requires an accuracy of 100μs compared to UTC for high-frequency trading, which cannot be achieved with an NTP-based synchronization system. A change to a synchronization via PTP is unavoidable.

The PTP Grandmaster as a synchronization source must have a very high accuracy, from the time radio receiver to the PTP output. The DTS 4160.grandmaster Type C or the DTS 4210.timecenter achieve precision from the GPS receiver to the PTP output of +/- 0.25μs. In this way, it can be ensured that despite accumulation of further delays due to transport of the data packets in the network, the accuracy of the time stamps of 100μs is achieved.

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