Cboe BZX Exchange Introduces Clock Service
AI-generated summary for informational purposes only. Not legal advice. See the original source for the authoritative text.
The Cboe BZX Exchange has launched an optional Clock Service that allows both members and non-members to synchronize their systems' time more precisely with the Exchange's timing network. This service aims to help trading participants in measuring and managing latency in their transactions more accurately. Users of this service can expect enhanced performance insights that could lead to optimized trading strategies and operations.
AI-generated summary. May contain errors. Refer to official sources for legal decisions.
Key Changes
- Introduction of optional Clock Service for time synchronization
- Provides enhanced latency measurement capabilities
- Available to both members and non-members
Obligations
What this law requires
Participants that choose to utilize the Clock Service must synchronize their primary clock devices to the Exchange's primary clock device using the provided time signals.
Participants must synchronize their internal devices to the Exchange's primary clock device using the Clock Service provided by the Exchange.
Subscribers of the Clock Service must evaluate compliance with clock synchronization requirements as part of their operations.
Subscribers utilizing the Clock Service must acquire a White Rabbit clock synchronization device from a third-party vendor if they do not already have one.
Participants using the Clock Service must measure market event times for their orders/messages against the Exchange's timestamp for accurate latency calculation.