A method and system for measuring latency is provided. A monitor node is used to measure latency in a computer network or in a computing device by time stamping signal messages sent from nodes in the computer network and/or tasks in a particular node or device. The time stamps are generated using a system clock of the monitor node to reduce any discrepancies in timing. In addition, the monitor node may compensate for latencies between the monitor node and each of the one or more nodes or devices across which latency is to be measured. Signal messages may include a data message ID and/or a node ID identifying the message that is being tracked and for which latency is being measured. Latency may further be measured across multiple tasks being performed in the same or different nodes or devices by transmitting signal messages for each of the multiple tasks.