Practical Implications of Creating Timing as a Service (TAAS) Christopher Lohr Chief Technology Officer PICO

Transcription

1 Practical Implications of Creating Timing as a Service (TAAS) Christopher Lohr Chief Technology Officer PICO

2 Practical Implications of Creating Timing as a Service (TAAS) Christopher Lohr CTO PICO January 23, 2018 ATIS Time and Money

3 Speaker Christopher Lohr Chief Technology Officer Pico Christopher Lohr is currently the CTO of Pico, a role he assumed in July Since joining Pico, he has launched several initiatives to improve Pico s product offerings, operating model, operational stability, and client engagement mechanisms. Prior to joining Pico, Chris spent nineteen years at a few large and small financial institutions (five years at JPMorgan Chase, six years at Merrill Lynch (and subsequently Bank of America Merrill Lynch), and eight years at BNP Paribas/CooperNeff) in various technical administration and engineering roles as well as senior technical management roles. Chris started his technology career in 1996 with Bay Networks, a Silicon Valley networking company that was formed by the merger of SynOptics Communications and Wellfleet Communications. Prior to Bay Networks, Chris graduated from the University of California, San Diego. 3

4 Abstract Over the past 2 years, there has been much discussion on the need for precision timing to ensure that the financial industry meet the new and evolving regulatory requirements. However, much less has been discussed on the real world practical implications of just how one designs, builds, deploys, operates and demonstrates regulatory compliance. Today s presentation will focus on the real world challenges of creating and operating Timing as a Service (TAAS). Starting with the design phase many non obvious factors must be take into consideration to develop a viable, precise and maintainable timing source at a reasonable cost point. The build phase will require an extensive amount of work to select and ensure vendor integrability as timing is still as much an art as it is a science. Lastly, is the challenge of continuing operations combined with the need to demonstrate regulatory compliance while lacking a comprehensive definition of what is required to be demonstrated. The regulations and compliance rules have been written mostly by lawyers and politicians not by engineers so the knowledge gap between the rules and how to interpret them in a technical light is quite extensive. Closing this gap remains one of the last open challenges of fulfilling the compliance objectives. As the compliance directives continue to evolve, closing this gap will continue to be an ongoing challenge. 4

5 Outline Design Reliable, Cheap, Fast Pick 2 Challenges Build Vendor selection Lab work and POC Construction phase Operations Compliance what is needed Questions 5

6 Design Challenges 6

7 Design Challenges Trade offs The Challenges 7

8 Trade Offs Pick Only Two Reliable: Straight forward to do but the costs are high Verification testing takes time but can be done faster at a higher cost Cheap: Reduce backups and redundancy saves $$ but results in low availability Simpler to build so much faster to deliver Fast Pay a premium for a very fast installation FAST Slash redundancy to build faster. COST 8

9 The Challenges Existing install base Need to upgrade in place changing the engine while at 34,000 feet Upgrades are not uniformed based on existing hardware platform Mixed vendors For cesium clocks only a few vendors and not all RoHS compliant For grand masters most focus on the traditional telecom vendor space Mixed protocols Industry transitioning from NTP to PTP Differing PTP profiles Vague regulatory requirements ( proof of compliance required, but not identified) Prescriptive verses descriptive 9

10 Build 10

11 Build Phase Vendor selection Lab work and POC Construction phase 11

12 Vendor Selection Requires lab testing Interoperability is not guaranteed Limited pool of available vendors No one vendor has a complete solution 12

13 Lab Work and POC Comprehensive testing of fail over of all sub systems required Testing of custom management scripts required Testing of interoperability required 13

14 Construction Phase Antenna challenges ownership/roof space rental issues Cable issues physical installation issues, requirement to provide exact length to provide signal offset, etc. Field Replaceable Unit (FRU) spares/stocking/availability Permit To Operate (PTO) failover testing and validation and proof thereof 14

15 Operations 15

16 Operations Compliance what is needed Unclear requirements regarding format and content of auditable artifacts Requirement to store significant amounts of raw data until clarification of the format/content of artifacts can be achieved How good is good enough What will be the next requirement? Home grown management tools required 16

17 Questions? Chris Lohr CTO Pico 17

18 LEGAL NOTICE. The Pico symbols and word marks are among the registered and unregistered trademarks of Pico. All other trademarks are the property of their respective owners.the content provided in this presentation or in any other information, data or content (whether written or oral), notice or document supplied or otherwise made available to you or your agents and/or advisors in connection with this presentation (the Information ) contains confidential and proprietary information of Pico. The Information may not be reproduced or redistributed or publicized or disclosed to any person outside the recipient's organization, in whole or in part, for any purpose, without the prior written consent of Pico. The Information is provided solely for informational purposes, and is not intended to provide legal, tax, investment or accounting advice, nor should it be construed as a recommendation, or an offer to buy or sell, or the solicitation of an offer to buy or sell any security, financial product or to participate in any trading strategy. No determination of your suitability for, or the appropriateness of, any service provided by Pico has been made. Any performance data provided in the Information represents past performance and is not necessarily indicative of future performance. The Information may contain forward looking statements, which by their nature involve risks and uncertainties. Future results may vary from what is presented in the Information and in no event are guaranteed. Pico undertakes no obligation to update the Information. The Information is provided as is, with no representation or warranty made or implied, and Pico assumes no responsibility for the accuracy, completeness or reliability of the Information, and Pico disclaims all liability for any use you or any other party may make of the Information. The Information, in any form, is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to local law or regulation. Pico Global Ltd, an affiliate of Pico Quantitative Trading LLC, is a private limited company registered in England and Wales, Company No , with registered offices at c/o Katten Muchin Rosenman UK LLP, Paternoster House, 65 St. Paul's Churchyard, London, England, EC4M 8AB. 18

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20 Version VERSION V1 02 JAN 2018 File Name PICO ATIS 23 DEC 2018 LOHR PREPUBLIC 16X9 V1.ppt Initial build VERSION V2 03 JAN 2018 File Name PICO ATIS 23 JAN 2018 LOHR PRE-PUBLIC BASE 16X9 V2.ppt Added mug shot, revised outline, corrected file name VERSION V3 03 JAN 2018 File Name PICO ATIS 23 JAN 2018 LOHR PRE-PUBLIC BASE 16X9 V3.ppt Added art on slide 7 VERSION V4 04 JAN 2018 File Name PICO ATIS 23 JAN 2018 LOHR PRE-PUBLIC BASE 16X9 V4.ppt Added animation and speaker notes VERSION V5 04 JAN 2018 File Name PICO ATIS 23 JAN 2018 LOHR PRE-PUBLIC BASE 16X9 V5.ppt Corrected copy right notice VERSION V6 08 JAN 2018 File Name PICO ATIS 23 JAN 2018 LOHR PRE-PUBLIC BASE 16X9 V6.ppt Cleaned up Layout VERSION V7 10 JAN 2018 File Name PICO ATIS 23 JAN 2018 LOHR PRE-PUBLIC BASE 16X9 V7.ppt Cleaned up by Kate VERSION V8 10 JAN 2018 File Name PICO ATIS 23 JAN 2018 LOHR PRE-PUBLIC BASE 16X9 V8.ppt INFO and Prop update to final VERSION V8 10 JAN 2018 File Name PICO ATIS 23 JAN 2018 LOHR PUBLIC SHOW MASTER 16X9 V8.ppt Convert to Show Master 20