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DP83TD510E: Meaning of 1588-TX/RX?

Part Number: DP83TD510E
Other Parts Discussed in Thread: DP83640, DP83630,

There are some GPIO pins with optional 1588 TX RX functions (datasheet p. 47). Is this precision time protocol (PTP) related? Where can I find detailled information about it?

Thank you for your answer!

Best regards, Olaf A.