A system, method and computer program product for calibrating a Time Of Day (TOD)-clock in a computing system node provided in a multi-node network. The network comprises an infrastructure of computing devices each having a physical clock providing a time base for executing operations that is stepped to a common oscillator. The system implements steps for obtaining samples of timing values of a computing device in the network, the values including a physical clock value maintained at that device and a TOD-offset value; computing an oscillator skew value from the samples; setting a fine steering rate value as equal to the opposite of the computed oscillator skew value; and, utilizing the fine steering rate value to adjust the physical clock value and correct for potential oscillator skew errors occurring in the oscillator crystal at the computing device.