Why should you care? If youre a high-frequency trading firm, you can lose alpha when trading if your systems lose a single second. Adding a leap second back in the 1990s wasnt a big deal but with the spread of HFT and low-latency data delivery systems, an entire second lost could be a very big deal to financial markets around the world,
How stock exchanges deal with this bonus second is critical. Traders provides a sample of what leading exchanges are doing to deal with their after-hours markets. Is your stock exchange ready?