OATS Guidance on the June 30, 2015 Leap Second
On June 30, 2015, a leap second will be added after 19:59:59 ET; 23:59:59 GMT. A leap second is an extra second which is added to Coordinated Universal Time (UTC)/Greenwich Mean Time (GMT), in order to synchronize atomic clocks with astronomical time to keep clocks as accurate as possible. This means that on the evening of June 30, 2015, clocks will advance in the following manner:
- 19:59:59 ET; 23:59:59 GMT
- 19:59:60 ET; 23:59:60 GMT
- 20:00:00 ET; 00:00:00 GMT
OATS will NOT accept records with a timestamp of 19:59:60 ET. Firms must ensure that the timestamps reported to OATS are rounded up or down consistently across all the involved parties.
If a firm receives a rejection for an order reported with a timestamp equal to 19:59:60, the rejection may be repaired by rounding the timestamp up or down by one second and resubmitted. If the rejected record is an OATS Execution or Combined Order/Execution Report that is required to link to a TRF trade report, then firms must ensure that the timestamps reported to both OATS and the TRFs are rounded up or down consistently.
For more information on leap second, please visit the following: http://www.nist.gov/pml/div688/leapseconds.cfm
For more information related to specific market centers and trade reporting facilities please see the resources below:
Venue | Guidance |
---|---|
FINRA/NYSE TRF |
Standard Market Closing Time : June 30, 2015 Adjusted Market Closing Time : For more information, please visit the following: |
FINRA/Nasdaq TRF |
Standard Market Closing Time : June 30, 2015 Adjusted Market Closing Time : For more information, please visit the following: |
OTC Reporting Facility (ORF) |
Standard Market Closing Time : June 30, 2015 Trade Processing Ends : For more information, please visit the following: |
EDGA and EDGX Exchanges: |
Standard Extended Session Closing Time: June 30, 2015 Adjusted Extended Session Closing Time: For more information, please visit the following: |
BATS BYX and BATS BZX Exchanges: |
Trading schedules are not affected. For more information, please visit the following: |
NYSE Arca Exchange |
Standard Market Closing Time : June 30, 2015 Adjusted Market Closing Time: For more information, please visit the following: |
The NASDAQ Stock Market |
Standard Market Closing Time: June 30, 2015 Adjusted Market Closing Time: For more information, please visit the following: |
Please contact the OATS Helpdesk at (800) 321-6273 with any questions.