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: Navigating a Complex World: Best Data Practices in Sanctions Screening

As rising geopolitical uncertainty prompts an intensification in the complexity and volume of global economic and financial sanctions, banks and financial institutions are faced with a daunting set of new compliance challenges. The risk of inadvertently engaging with sanctioned securities has never been higher and the penalties for doing so are harsh. Traditional sanctions screening...

BLOG

CFTC File Format Change to Impact Futures Data Management Teams

For futures commission merchants, clearing members, proprietary trading firms, and banks with material futures and options exposure, the transition of CFTC Part 17 Large Trader Reporting to FIX Markup Language (FIXML) is a test of data management maturity. This change directly affects firms responsible for aggregating, validating, and submitting large trader position data, often across...

EVENT

Buy AND Build: The Future of Capital Markets Technology

Buy AND Build: The Future of Capital Markets Technology London examines the latest changes and innovations in trading technology and explores how technology is being deployed to create an edge in sell side and buy side capital markets financial institutions.

GUIDE

Regulatory Data Handbook 2022/2023 – Tenth Edition

Welcome to the tenth edition of A-Team Group’s Regulatory Data Handbook, a publication that has tracked new regulations, amendments, implementation and data management requirements as regulatory change has impacted global capital markets participants over the past 10 years. This edition of the handbook includes new regulations and highlights some of the major regulatory interventions challenging...