2017 Edward Uhler Condon Award

Mr. Lombardi and Mr. Novick are recognized for their feature article "Accurate, Traceable, and Verifiable Time Synchronization for World Financial Markets," which clearly articulates the importance of accurate standardized time to the world's modern financial markets. This paper provides a comprehensive look at the historical changes due to the advent of high-speed and high-frequency trading, and how accurate, traceable timing is essential to assure trading traffic control, and, more importantly, fraud prevention. The paper details the laws and regulations that control stock market transactions for both North America and Europe, presents current and future requirements for these markets, and provides technological solutions to meet those demands.