According to one embodiment of the invention, a network element synchronizes a number of clocks within the system while supporting multiple independent timing domains. The network element includes a local clock, which is free-running and is not necessarily synchronized with an external reference, that synchronously provides a local time value to the slave and master interfaces of each timing domain. Each slave interface of each timing domain independently determines timing information based on a received master clock synchronization event and the value of the local time when that synchronization event was received. The timing information is distributed to the master interfaces of the appropriate timing domain, and each master interface calculates an adjusted synchronization event based on the received timing information and the value of the local time when that timing information was received. The adjusted synchronization events are transmitted out of the network element to an external slave interface.