scholarly journals Self-Stabilising Byzantine Clock Synchronisation Is Almost as Easy as Consensus

2019 ◽  
Vol 66 (5) ◽  
pp. 1-56 ◽  
Author(s):  
Christoph Lenzen ◽  
Joel Rybicki
Keyword(s):  
Clock Synchronisation

FLOPSYNC-2: Efficient Monotonic Clock Synchronisation

2014 ◽  
Author(s):  
Federico Terraneo ◽  
Luigi Rinaldi ◽  
Martina Maggio ◽  
Alessandro Vittorio Papadopoulos ◽  
Alberto Leva
Keyword(s):  
Clock Synchronisation

scholarly journals A Model of Guarded Recursion With Clock Synchronisation

2015 ◽  
Vol 319 ◽  
pp. 83-101 ◽  
Author(s):  
Aleš Bizjak ◽  
Rasmus Ejlers Møgelberg
Keyword(s):  
Clock Synchronisation

Design of a clock synchronisation sub-system for parallel embedded systems

1997 ◽  
Vol 144 (2) ◽  
pp. 65 ◽  
Author(s):  
M. Fleury ◽  
A.C. Downton ◽  
A.F. Clark ◽  
H.P. Sava
Keyword(s):  
Embedded Systems ◽  
Clock Synchronisation

scholarly journals Regulations and Technology Behind HFT Latency, Batch Auctions and Payments for Order Flow in the US and EU

e-Finanse ◽  
2018 ◽  
Vol 14 (2) ◽  
pp. 34-46
Author(s):  
Carlos Jorge Lenczewski Martins
Keyword(s):  
High Frequency ◽  
Great Part ◽  
High Frequency Trading ◽  
Order Flow ◽  
Electronic Trading ◽  
Inside Information ◽  
Wholesale Market ◽  
Market Makers ◽  
The Us ◽  
Clock Synchronisation

AbstractSince the appearance of high-frequency trading in the 1990s, speed has become one of the key issues in trading and with it, the controversy around High-Frequency Trading. In recent years, there have been many discussions and analyses of how high-frequency trading may affect the financial market – but still without any clear conclusions. Leaving these opinions behind, many adjustments have already been made in the US and Europe - both to regulations and market rules, impacting not only High-Frequency Trading but general electronic trading as well. These rules and regulations are the result of technological developments in electronic trading and more specifically, High-Frequency Trading and the practice of Payments for Order Flow. The question remains as to how deep regulations should go, especially in the case of HFT which can be severely affected by harsh regulatory requirements or procedures. Because two of the most important issues in HFT are time and information, some of the rules and regulations affect aspects such as not only what type of information and how it should be gathered, but also clock synchronisation and time-stamp granularity. Another issue that may be considered controversial in the field of HFT (although it is not a practice limited to HFT) is Payment For Order Flows. Under this mechanism, wholesale market makers pay brokers for their client’s order flow – a practice that performed in great amounts and at high speeds may give a considerable level of “inside” information. Regulations, especially from ESMA (MiFID II). try in great part to thus mitigate the practice of Payments For Order Flows.The aim of this paper is to present technological advancements in the field of trading communications used, not only by HFT firms, but also by exchanges. Additionally, the objective is to underline some challenges regarding regulatory changes that try to adapt to the current level of technology – for example, those related to clock synchronisation and data processing. One last issue brought forward is the possibility of converting markets from continuous-time auctions to discrete-time auctions - a concept that is aimed at liquidating the speed advantage and competition only to price level and hence, eliminating HFT advantages.

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