We describe the theory of operation and the results obtained with the upgrade of the timing system of the LNLS Synchrotron Light Source, developed as a result of the construction of a new 500-MeV booster synchrotron. The system uses ECL logic and differential transmission of the signals through the backplane, which is connected to 11 delay modules that produce the trigger signals necessary for all pulsed hardware in the accelerator facility, including klystron modulators, electron gun, kickers and septa. All trigger signals are synchronized with the coincidence signal of booster and storage ring revolution frequencies. The rms jitter between two delay modules is 200 ps, whereas the rms jitter with respect to the RF waveform is below 20 ps.