We take the concept of time for granted, but in truth it has a complicated history. It was actually only relatively recently that the idea of standard time became widespread and allowed us to synchronize time within different geographical regions.
In the financial world, where thousands of events can take place in a single millisecond, the issue of time synchronization is paramount. Not only that: it is a core requirement of the Consolidated Audit Trail (CAT) in the US and MiFID II in Europe. All trading organizations should therefore take time synchronization very seriously, and be prepared to make the investments necessary to secure - at the very least - the level of resolution needed to be compliant.