In this paper we present a new Global Virtual Time (GVT) algorithm for
Parallel Discrete Event Simulation, the Continuously Monitored Global
Virtual Time (CMGVT). Unlike others, this algorithm allows processes
to calculate the GVT based on the local information constantly
available to each process. System information, such as the Local
Virtual Time (LVT) of each process and information about messages in
transit, is appended to simulation messages. We present experimental
data that show the performance of the CMGVT algorithm.