Today, High Frequency Trading (HFT) requires low latency and knowledge of UTC time in capital markets where a difference of better than one millisecond provides a competitive advantage to trading firms.  Better than 10-microsecond accuracy to UTC can be achieved using Code Division Multiple Access (CDMA) and IEEE-1588 Precision Time Protocol (PTP) without routing an external antenna. Presented at the 42nd Annual Precise Time and Time Interval Systems and Applications (PTTI) in November 2010.

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