Before revision:  It allows us to quantify the duration of periods in which the market is inactive , like amid nights, and to optimally exploit the statistical information contained in the series.The overall strategy leads to a significant reduction of multiscaling features, once the moments of the return probability density function are analyzed versus the novel time .
After revision:  It allows us to quantify the duration of periods in which markets remain inactive are properly quantified by the novel clock, and the corresponding (e.g., overnight) returns are consistently taken into account for financial applications .