Clock Synchronization MiFID II

 

X_TRADER® ASP customers

All TT Gateways in the X_TRADER ASP environment are synchronized to global GPS using the Domain Time II software by Greyware to obtain timestamps that support MiFID II compliance. Using this software, the X_TRADER ASP environment obtains high precision microsecond timestamps on outbound and inbound messages sent to/from the Exchange.

TT monitors timestamps in the X_TRADER ASP environment for up to +/- 100 microsecond slippage. Timestamps to/from both sources (client and host) are monitored, and both timestamps are recorded in the TT Gateway audit and log files.

Note: The microsecond requirement is for HFT users and only applicable to EU facing TT Gateways.

X_TRADER® customers hosting their own environment

Contact your TAM when upgrading your environment to support MiFID II compliance. If you host your own trading environment, you will need to do the following:

  1. Upgrade the following TT Gateways to version 7.18.25:
    • ICE Gateway
    • Eurex Gateway (supports EEX customers)
    • NYSE_LIFFE Gateway (Euronext)
    • NASDAQ_OMX_EU Gateway
    • LME Gateway
    • LSE Gateway (supports IDEM customers)
    • MEFF Gateway
  2. Ensure that your traders and risk adminsitrators have upgraded their TT client trading applications to versions that support MiFID II.
  3. Coordinate with Greyware Automation to obtain their network time solution for the Windows OS running on your TT Gateway servers. If you host your own trading environment, you will have to consult with Greyware to determine your time source and install and configure their Domain Time II software on each Windows machine running a TT Gateway.