The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

TMX Atrium Adopts NPL Time to Offer Accurate Time Stamp Service

TMX Atrium has signed an agreement with the UK’s National Physical Laboratory (NPL) to distribute NPL Time, a certified and precise time signal that is directly traceable to Coordinated Universal Time and can be used by TMX Atrium customers for regulatory compliance and audit purposes.

TMX Atrium’s adoption of the NPL Time service is designed to meet increasing regulatory demand for time stamp accuracy and allows customers to receive a time signal that is independent of the global positioning system and cannot be disrupted by outside interference. The time stamp is provided at the distribution point and is certified by NPL and compliant with the Finra Oats 7430 timing traceability requirement. NPL certification removes the need for time synchronisation between various locations in the trading infrastructure, reducing the complexity of time management.

NPL Time is initially available on the TMX Atrium network in the UK and will later be offered across the network in Europe and North America.

Leon Lobo, strategic business development, Time and Frequency, at NPL, says: “NPL Time is an extension of many decades of time dissemination expertise. By providing NPL Time over the TMX Atrium network, the financial industry stands to benefit from NPL’s capability to ensure that time-stamped trades can be traced to Coordinated Universal Time.”

NPL, the UK’s National Measurement Institute, operates one of the world’s most accurate atomic clicks, NPL Csf2, which is accurate to one second every 158 million years. It is developing the next generation of optical atomic clocks, which will be accurate to one second in 14 billion years.

Related content

WEBINAR

Recorded Webinar: Managing LIBOR transition

The clock is ticking on the decommissioning of LIBOR towards the end of this year, leaving financial institutions with little time to identify where LIBOR is embedded in their processes, assess alternative benchmarks and reference rates, and ensure a smooth transition. Some will be ahead of others, but the challenges are significant for all as...

BLOG

ACA Group Adds Marketing Materials Checks in ComplianceAlpha Release

With an eye on the SEC’s new Market Rule, GRC fintech ACA Group has added a series of features addressing the verity of regulated firms’ marketing materials in a new release to its ComplianceAlpha compliance platform. This is augmented in the release by a new eLearning Solution aimed at helping firms train staff in compliance-related...

EVENT

Data Management Summit Virtual

The Data Management Summit Virtual will bring together the global data management community to share lessons learned, best practice guidance and latest innovations to emerge from the recent crisis. Join us online to hear from leading data practitioners and innovators from the UK, US and Europe who will share insights into how they are pushing the boundaries with data to deliver value with flexible but resilient data driven strategies.

GUIDE

RegTech Suppliers Guide 2020/2021

Welcome to the second edition of A-Team Group’s RegTech Suppliers Guide, an essential aid for financial institutions sourcing innovative solutions to improve their regulatory response, and a showcase for encumbent and new RegTech vendors with offerings designed to match market demand. Available free of charge and based on an industry-wide survey, the guide provides a...