MiFID II’s clock synchronisation rules have given the buy-side plenty to think about, Hayley McDowell looks at the challenges and how technology is helping.
In August this year, UBS signed an agreement with the National Physical Laboratory in the UK to implement its time accuracy technology, ahead of regulatory synchronisation reporting requirements. The technology was described as ‘atomic’, with the laboratory currently operating two of the world’s most accurate clocks – accurate to one second every 158 million years.
The global co-head of equity electronic agency trading at UBS, Chris McConville, said at the time the clock would “provide UBS infrastructure with a stable, accurate and resilient time signal, whilst simplifying the MiFID II time synchronisation traceability requirements.”
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