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OATS Compliant Time
Stamping with DocuClock
Did You Know that as of
July 1, 1999:
-
All trades for NASD must show the complete date and time to the
second.
-
That the time is set to Eastern Standard Time and must be
corrected to the
NIST Atomic Clock. Computer clocks must be set within
3 seconds of
the atomic clock.
-
Dealers must
keep a log
or record of each time a
clock receives a time synch from NIST and each time it sends out a correction to the trade
clocks, and the trades clocks must indicate if it received this signal before the Market
opens.
-
Paper order tickets must be also stamped
with the exact time in seconds.
-
NASD audits approx. 2500 of its members
every year
Beagle Software has time synchronization solutions that
keep a Windows desktop computer or an entire network synchronized to the atomic
clock while maintaining a detailed log of all clock setting activity.
It will...
- Print
the exact time based on the
Atomic Clock.
- Meet NASD OATS Rules 6950 - 6957.
- All time stamps are
logged to meet OATS requirements.
DocuClock allows you to print date and time to the
second that's synchronized with the computer.
Date/Time Stamping FEB 01,
2001 AM 9:00:39
OATS requires that paper trades are
stamped with the exact time. DocuClock is date/time stamper that will
print the exact time on your order ticket. The DocuClock time stamper is directly connected
to a Windows PC maintained at standard time. Whenever a time stamp request
is made it gets the exact standard time maintained by software running on
the computer.
Diagram of the DocuClock Solution
DocuClock can fit in the way your office works
today
In the diagram, DocuClock is acting
as a central time stamping facility in a Client/Server environment. In the
Beagle Software solution ClockWatch Server services the time requests
from workstations running ClockWatch Client. ClockWatch Server also keeps the computer it
is running on set to the correct time by accessing external timeservers over the Internet
or through a directly dialed connection. The trader's applications use the correct time
maintained by ClockWatch while DocuClock time stamper provides a printed record of the exact time.
Keeping
the Logs
OATS rules require that logs
are kept to show that time settings are made during trading hours.
DocuClock keeps detailed logs of every
time setting and
every time stamp.
These logs are kept automatically and are available for review or
archival at any time
Maintaining the Correct Time
Since DocuClock gets the time from host
computer, that computer must be maintained at the exact time. Beagle
Software offers both desktop solutions and networked solutions for maintaining
the host computer at standard time.
Clocks
can also be locked down to prevent unauthorized users from changing date or
time.
Desktop Solutions
For stand alone computers, Beagle
Software offers several software products will synchronize the computer to
the Atomic Clock. More on ClockWatch Desktop
solutions...
Networked Solutions
For dealers handling electronic transactions
in a networked environment, Beagle Software's approach is a
simple yet powerful pair of software applications that use the hardware and system
software you currently run.
The approach features a main time synchronization program that keeps the
computer it is running on (the server) set to the correct time. It also handles requests
for the correct time from the other PCs on the network (the clients).
The ClockWatch host server's job is to keep the time accurate on the host and to
process requests and send appropriate responses. The ClockWatch Client's job is to send
requests to the ClockWatch server to maintain the correct time. All interaction with
external timeservers is done by the host server. The communication link with the clients
must be a network (e.g., Ethernet) connection.
Beagle Software's systems offer you an easy way to implement OATS compliance to
every Windows PC on your LAN
More on networking the DocuClock time stamper....
More
on ClockWatch Client/Server in an OATS compliant environment...
Why Use Beagle Software?
As a potential Beagle Software customer, you can be secure in the knowledge that
you would be working with a vendor who specializes in installing time
synchronization solutions for the securities industry.
For more information or field engineering support
contact
Frequently Asked Questions
about OATS
DocuClock Main Page
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