What can tracer tokens measure in SQL Server 200

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What can tracer tokens measure in SQL Server 2005 transactional replication?

Answer
1 and 3

Explanation
Tracer tokens measure two things. One is the amount of time elapsed between a command being committed on the publisher and being written to the distribution database. The other is from the writing to the distribution database and being committed to a subscriber. This allows you to determine the latencies for transactions moving through your replication topology.

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