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4.0 Session
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re: Time zones & the spec
scott_atwell@americancentury.com
25 Sep 1997 8:37AM ET> > I don't see a need for fields to specify the timezone for
> > timestamps in the FIX spec. All timestamps are specified
> > in GMT and (in FIX 4.0) include the date so it's pretty
> > easy for systems to convert/represent it any way they
> > want.
>
> I suspect the FIX 4.0 spec. is in error when it talks about GMT. GMT is the local time of the UK (&c), and is subject to daylight saving/summer time shifts. UTC is the name of the base timezone from which others are measured (so GMT is UTC+1 at the moment, I think).
>
> I'm seeing problems in my FIX implementation because time fields in messages are shifting about by an hour depending on what time of year it is.
>
> Jeremy Fitzhardinge
> Softway Pty. Ltd.
>
You are correct that the "official" name for the base timezone is now UTC (Coordinated Universal Time or Universal Time Coordinated ), however, "GMT" is effectively the same time and has historically been the term/method used. It is not subject to DST. The fact that a specific locale observes daylight savings time causes it's local time to be +/- an hour. You shouldn't be off an hour.
Please refer to:
http://www.boulder.nist.gov/timefreq/glossary.htm
Which states:
Coordinated Universal Time or Universal Time Coordinated (UTC): A coordinated time scale, maintained by the Bureau International des Poids et Mesures (BIPM), which forms the basis of a coordinated dissemination of standard frequencies and time signals. NOTE: A UTC clock has the same rate as a Temps Atomique International (TAI) clock or international atomic time clock but differs by an integral number of seconds called leap seconds. The UTC scale is adjusted by the insertion or deletion of seconds (positive or negative leap seconds) to ensure approximate agreement with UT1 (also known as the Julian Date).
Greenwich Mean Time (GMT): A 24 Hour system based on mean Solar time plus 12 hours at Greenwich, England. Greenwich Mean Time can be considered approximately equivalent to Coordinated Universal Time (UTC), which is broadcast from all standard time and frequency radio stations. However, GMT is now obsolete and has been replaced by UTC.
You can also refer to:
http://www.greenwich2000.com/time/timezone.htm
and
http://www.yahoo.com/science/weights_and_measures/measurements/time/
Hope that helps.
Scott Atwell
American Century
re: Time zones & the spec
scott_atwell@americancentury.com 25 Sep 1997 8:37AM ET
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