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What is the best way to describe latency?

What are good ways of describe observed tick data latency with a view to flagging when something is systematically wrong? For example, we would want to discount outlier ticks so that we do not alert ...
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How to evaluate data handlers

How would I go about evaluating CME data handlers? Looking at:how to define and measure latency Two colo servers should have the same Order to Accept times. If the algorithm to generate the order ...