About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

BSO and Hoptroff Develop Time-as-a-Service Solution to Support Regulatory Compliance

Subscribe to our newsletter

By Uri Inspector, Staff Reporter

Global network provider BSO and time synchronisation specialist Hoptroff London have partnered to create a fully traceable and accurate Time-as-a-Service (TaaS) solution. Hoptroff’s Global Timing Network and AI driven Time-Suite software will be combined with BSO’s global low-latency network to offer a time synchronisation tool that gives firms a timestamp of trades to within 10 microseconds of the primary reference standard of Universal Time (UTC).

The BSO and Hoptroff TaaS model allows market participants to cross connect into the Hoptroff traceable time feed from any of BSO’s 100+ points of presence (PoP) globally, negating the need for costly investment in expensive timing hardware at each PoP requiring compliance. The firms say the solution will address rising demand in the financial ecosystem, particularly since MiFID II went live, for a far more precise reading of time when a trade is executed. The technology will also help firms meet the requirements of regulations such as the US Consolidated Audit Trail (CAT) and the European Second Payment Services Directive (PSD2).

Simon Kenny, CEO at Hoptroff, says: “Choosing time-as-a-service instead of installing and integrating local timing hardware and software, saves our clients money and provides them with fully traceable timing that meets all current compliance standards at any PoP on demand. We believe accurate timing is a critical service for financial services firms across the globe and we wanted to make sure that delivery of our time feed was underpinned with the most reliable and fastest low-latency network available.”

Fraser Bell, chief commercial officer at BSO, concurs, saying: “Having an accurate timestamp is imperative for firms to adhere to a number of global regulations. With our far-reaching and reliable network infrastructure underpinning Hoptroff’s exceptional software, firms can rest assured they have a fully compliant timestamping service.”

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Transforming Data Experiences in Quantitative Research and Trading

For quantitative researchers and quant trading teams at banking and capital markets firms, the ability to access, integrate, and share data is critical. Data and how teams collaborate with data underpins the ability to generate alpha, perform execution analyses, and provide a modern and differentiated client experience. However, for most banks, legacy technology stacks and...

BLOG

PRA Package of Regulatory and Data Strategy Change Planned for Completion by 2026

The Prudential Regulation Authority (PRA), which regulates and supervises financial services firms as part of the Bank of England, is planning to complete its RegTech and data integration strategy by 2026, bringing in a package of change including a new ‘look and feel’ to regulation, and refinements to what data is collected, how it is...

EVENT

RegTech Summit London

Now in its 6th year, the RegTech Summit in London will bring together the RegTech ecosystem to explore how the European capital markets financial industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

Corporate Actions USA 2010

The US corporate actions market has long been characterised as paper-based and manually intensive, but it seems that much progress is being made of late to tackle the lack of automation due to the introduction of four little letters: XBRL. According to a survey by the American Institute of Certified Public Accountants (AICPA) and standards...