Does ntpd have the ability to control when the daemon skews time ?

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Issue

Does ntpd have the ability to control when the daemon skews time vs resetting the clock?
I have a business requirement covering time sync for trading systems which will change around June 30, 2015 from 1 second to 50ms.
Ideally I want to configure ntpd to skew time until it hits a defined threshold like 48ms from the source.

Environment

Red Hat Enterprise Linux 5
Red Hat Enterprise Linux 6

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