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Beyond January 3rd: Operationalization of Timekeeping

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Beyond January 3rd: Operationalization of Timekeeping

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At the MiFID II Workshop in London, Ulrich Kohn revealed how financial institutions can simply and efficiently achieve MiFID II compliance. By drawing on essential lessons learned from bringing precise synchronization to mobile networks, he offered sound predictions on the mid-term evolution of timing architectures in financial trading and outlined the optimum route to accurate, traceable and verifiable time synchronization.

At the MiFID II Workshop in London, Ulrich Kohn revealed how financial institutions can simply and efficiently achieve MiFID II compliance. By drawing on essential lessons learned from bringing precise synchronization to mobile networks, he offered sound predictions on the mid-term evolution of timing architectures in financial trading and outlined the optimum route to accurate, traceable and verifiable time synchronization.

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Beyond January 3rd: Operationalization of Timekeeping

  1. 1. Beyond January 3rd Operationalization of Timekeeping Ulrich Kohn - Technical Marketing September 12, 2017
  2. 2. • Precise timing in other verticals • … lessons learnt; finally creating a time- as-a-service (TaaS) market • Initial focus on regulator compliance • … by optimizing financial appliances • Hardening and preparing for more stringent requirements • … by resiliently combining multiple delivery mechanisms with assurance Overview Synchronization is Key Evolution of Timing in Finance Making best use of advanced technology and emerging services
  3. 3. • Base stations and small cells • Transactional services in finance and other vertical markets • Cable networks and emerging distributed access architectures • Utilities, e.g., substations in power networks • Precise synchronization for IoT and distributed processes General Need for Precise Synchronization Accurate Timing Is Mandatory Increasing number of appliances require ultra-precise timing Good Enough?
  4. 4. Trinity of Timing Excellence in Finance PTP Delivery Timing Assurance Long HoldoverAtomic Clocks GNSS as Reference • Sync quality monitoring • Packet delay performance • Monitoring slave clocks • Benefit from PTP performance • Traceable to UTC • Redundancy • Ultra-stable clock • Surviving PTP/GNSS outages • Various holdover options
  5. 5. • Leverage PTP accuracy • Protect investment with existing NTP clients by using … • NTP/PTP gateway • Enhancing NTP with precise sync signal (1PPS) • Upgrading legacy appliances with SFP GM Until Jan 3rd: NTP to PTP Migration Initial Approach Benefit from better PTP synchronization performance in a cost efficient way Trade Execution NTP ServerNTP Client NTP Over Packet Network PTP Slave Clock NTP Client NTP PTP PTP Grandmaster Synchronized From UTC PTP Over Packet Network NTP to PTP Migration
  6. 6. • Enhancing NTP with 1PPS physical sync signal • Backing up NTP server with network- or satellite-provided timing • Monitoring quality of NTP server • OSA 5421 multi-technology grandmaster for timing deliver and assurance Customer Case: Making Timing Precise NTP Enhancement Seamless NTP-PTP migration with OSA 5421 multi-technology sync appliance NTP Server OSA 5421 Financial Appliance PTP Server1PPS Site in Japan Financial Services Company
  7. 7. • PTP/NTP gateway, 1PPS support • GNSS-support: local clock, assurance • Analyzing network delay characteristics • Monitoring slave clocks in financial applications • Recording time accuracy for compliance reasons Before Jan 3rd: Sync Delivery & Assurance Local Grandmaster Immediately detecting any timing failures and preparing for audits Financial Institution NTP Server, PTP Grandmaster LAN WAN Service Provider
  8. 8. • Partially time-aware WANs • Precise, reliable, traceable PTP-provided timing • Synchronization assurance at hand-off point • Monitoring of delivered synchronization quality but also slave clocks (optional) Time as a Service (TaaS) Timing Demarcation Reporting of timing quality against service level agreements PTP Grandmaster LAN WAN TaaS ProviderFinancial Institution
  9. 9. • Long holdover times for bridging external failures • Balance cost and need with rubidium or cesium clocks • Highest availability by combining network-based, GNSS-based timing with atomic clock-based timing Surviving Failures in Time Delivery Atomic Clocks Increasing robustness of timing network with ultra-stable oscillators PTP Grandmaster LAN WAN TaaS Provider Atomic Clock Financial Institution
  10. 10. Solution Portfolio Various opportunities to enhance accuracy of time distribution OSA 5401 SyncPlugTM: SFP-based on-site PTP grandmaster OSA 5405 SyncReachTM: Onsite grandmaster with integrated dual-GNSS receiver OSA 5420: Edge grandmaster featuring various oscillator options, NTP gateway OSA 3300: Optical atomic cesium clock for longest holdover LAN TaaS ProviderFinancial Institution Service Providers
  11. 11. • NTP performance of financial appliances is enhanced/migrated to PTP • Operationalization with sync assurance and atomic clocks • Time will be provided as a service by communication service providers, metrological institutes, data center operators Summary Timekeeping in Financial Trading Oscilloquartz for better times in financial trading
  12. 12. IMPORTANT NOTICE The content of this presentation is strictly confidential. ADVA Optical Networking is the exclusive owner or licensee of the content, material, and information in this presentation. Any reproduction, publication or reprint, in whole or in part, is strictly prohibited. The information in this presentation may not be accurate, complete or up to date, and is provided without warranties or representations of any kind, either express or implied. ADVA Optical Networking shall not be responsible for and disclaims any liability for any loss or damages, including without limitation, direct, indirect, incidental, consequential and special damages, alleged to have been caused by or in connection with using and/or relying on the information contained in this presentation. Copyright © for the entire content of this presentation: ADVA Optical Networking. Thank You ukohn@advaoptical.com

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