Stock Traders Get Official Clock Sync: Time to Tick Tock Precisely
Published Date: 3/30/2026
Notice
Summary
Cboe C2 Exchange is rolling out a new Clock Service that helps traders sync their clocks with the Exchange’s time for super accurate tracking of orders and messages. This optional service is open to all traders and could boost fairness and speed in trading. It’s effective immediately, so anyone interested can jump on board without delay—no extra fees mentioned yet!
Analyzed Economic Effects
4 provisions identified: 2 benefits, 2 costs, 0 mixed.
Optional Exchange Clock Service Launched
If you are a trading firm or market participant, Cboe C2 is offering an optional Clock Service that subscribers can use to sync their primary clock to the Exchange's primary clock. The service uses White Rabbit technology and includes a dedicated 1 Gbps Physical Port as part of the offering (the Exchange filed the rule change on March 17, 2026).
Sub‑Nanosecond Time Sync for Precise Latency
Subscribers can receive the Exchange's time signal at a more granular level (up to sub-nanosecond accuracy) to compare their timestamps with Exchange timestamps measured in nanoseconds. This helps latency-sensitive participants better measure and analyze message and order traversal times between their systems and the Exchange.
You May Need White Rabbit Hardware and Licenses
If you want to use the Clock Service but do not already have White Rabbit equipment, you must acquire a White Rabbit clock synchronization device and any required licenses from third-party vendors. The Exchange provides the 1 Gbps Physical Port, but participants are responsible for procuring devices, optics, and applicable licenses.
Fees for Clock Service To Be Proposed Separately
The Exchange intends to file a separate rule change to propose fees for the Clock Service, so subscribers may be charged once the fee filing is made. The current filing does not set a fee; the Exchange stated it will submit a separate Section 19(b)(1) filing to propose fees.
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