MiFID II Guide for the TT Platform

Clock Synchronization MiFID II

Clock Synchronization MiFID II

TT® Platform customers

The TT platform is synchronized to global GPS and provides microsecond-level precision for its timestamps to support MiFID II compliance. TT obtains high precision microsecond timestamps on outbound and inbound messages sent to/from the Exchange.

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

Note: The microsecond requirement is for HFT (high-frequency trading) users and applies to EU facing exchanges. However, the microsecond timestamps are provided for all exchanges supported on TT.