M. Feroci et al.Abstract High-time-resolution X-ray observations of compact objects provide direct access to strong-field gravity, to the equation of state of ultradense matter and to black hole masses and spins. A 10 m 2 -class instrument in combination with good spectral resolution is required to exploit the relevant diagnostics and answer two of the fundamental questions of the European Space Agency (ESA) Cosmic Vision Theme "Matter under extreme conditions", namely: does matter orbiting close to the event horizon follow the predictions of general relativity? What is the equation of state of matter in neutron stars? The Large Observatory For X-ray Timing (LOFT), selected by ESA as one of the four Cosmic Vision M3 candidate missions to undergo an assessment phase, will revolutionise the study of collapsed objects in our galaxy and of the brightest supermassive black holes in active galactic nuclei. Thanks to an innovative design and the development of large-area monolithic silicon drift detectors, the Large Area Detector (LAD) on board LOFT will achieve an effective area of ∼12 m 2 (more than an order of magnitude larger than any spaceborne predecessor) in the 2-30 keV range (up to 50 keV in expanded mode), yet still fits a conventional platform and small/medium-class launcher. With this large area and a spectral resolution of <260 eV, LOFT will yield unprecedented information on strongly curved spacetimes and matter under extreme conditions of pressure and magnetic field strength.

The LOFT mission concept is one of four candidates selected by ESA for the M3 launch opportunity as Medium Size missions of the Cosmic Vision programme. The launch window is currently planned for between 2022 and 2024. LOFT is designed to exploit the diagnostics of rapid X-ray flux and spectral variability that directly probe the motion of matter down to distances very close to black holes and neutron stars, as well as the physical state of ultradense matter. These primary science goals will be addressed by a payload composed of a Large Area Detector (LAD) and a Wide Field Monitor (WFM). The LAD is a collimated (<1 degree field of view) experiment operating in the energy range 2-50 keV, with a 10 m2 peak effective area and an energy resolution of 260 eV at 6 keV. The WFM will operate in the same energy range as the LAD, enabling simultaneous monitoring of a few-steradian wide field of view, with an angular resolution of <5 arcmin. The LAD and WFM experiments will allow us to investigate variability from submillisecond QPO's to yearlong transient outbursts. In this paper we report the current status of the project

The Large Observatory For x-ray Timing (LOFT) was studied within ESA M3 Cosmic Vision framework and participated in the final downselection for a launch slot in 2022-2024. Thanks to the unprecedented combination of effective area and spectral resolution of its main instrument, LOFT will study the behaviour of matter under extreme conditions, such as the strong gravitational field in the innermost regions of accretion flows close to black holes and neutron stars, and the supranuclear densities in the interior of neutron stars. The science payload is based on a Large Area Detector (LAD, 10 m2 effective area, 2-30 keV, 240 eV spectral resolution, 1° collimated field of view) and a Wide Field Monitor (WFM, 2-50 keV, 4 steradian field of view, 1 arcmin source location accuracy, 300 eV spectral resolution). The WFM is equipped with an on-board system for bright events (e.g. GRB) localization. The trigger time and position of these events are broadcast to the ground within 30 s from discovery. In this paper we present the status of the mission at the end of its Phase A study

Precise and accurate measurements of neutron star masses and radii would provide valuable information about the still uncertain properties of cold matter at supranuclear densities. One promising approach to making such measurements involves analysis of the X-ray flux oscillations often seen during thermonuclear (type 1) X-ray bursts. These oscillations are almost certainly produced by emission from hotter regions on the stellar surface modulated by the rotation of the star. One consequence of the rotation is that the oscillation should appear earlier at higher photon energies than at lower energies. Ford (1999) found compelling evidence for such a hard lead in the tail oscillations of one type 1 burst from Aql X-1. Subsequently, Muno,Özel & Chakrabarty (2003) analyzed oscillations in the tails of type 1 bursts observed using RXTE. They found significant evidence for variation of the oscillation phase with energy in 13 of the 51 oscillation trains they analyzed and an apparent linear trend of the phase with energy in six of nine average oscillation profiles produced by folding the energy-resolved oscillation waveforms from five stars and then averaging them in groups. In four of these nine averaged energy-resolved profiles, the oscillation appeared to arrive earlier at lower energies than at higher energies. Such a trend is inconsistent with a simple rotating hot spot model of the burst oscillations and, if confirmed, would mean that this model cannot be used to constrain the masses and radii of these stars and would raise questions about its applicability to other stars. We have therefore re-analyzed individually the oscillations observed in the tails of the four type 1 bursts from 4U 1636−536 that, when averaged, provided the strongest evidence for a soft lead in the analysis by Muno et al. (2003). We have also analyzed the oscillation observed during the superburst from this star. We find that the data from these five bursts, treated both individually and jointly, are fully consistent with a rotating hot spot model. Unfortunately, the uncertainties in these data are too large to provide interesting constraints on the mass and radius of this star.

The X-ray sky in high time resolution holds the key to a number of observables related to fundamental physics, inaccessible to other types of investigations, such as imaging, spectroscopy and polarimetry. Strong gravity effects, the measurement of the mass of black holes and neutron stars, the equation of state of ultradense matter are among the objectives of such observations. The prospects for future, non-focused X-ray timing experiments after the exciting age of RXTE/PCA are very uncertain, mostly due to the technological limitations that need to be faced to realize experiments with effective areas in the range of several square meters, meeting the scientific requirements. We are developing large-area monolithic Silicon drift detectors offering high time and energy resolution at room temperature, with modest resources and operation complexity (e.g., read-out) per unit area. Based on the properties of the detector and read-out electronics we measured in laboratory, we built a concept for a realistic unprecedented large mission devoted to X-ray timing in the energy range 2-30 keV. We show that effective areas in the range of 10-15 square meters are within reach, by using a conventional spacecraft platform and launcher