The aim of this thesis work is to analyze the main co-simulation techniques and standards to evaluate the feasibility of data transmission between different Digital Real-Time Simulators [DRTS] exploiting high-bandwidth and low-latency protocols (e.g. Xilinx Aurora 8B/10B) to allow Hardware In-the-Loop (HIL) testing in co-simulation infrastructure. The communication latency is a very important parameter to be determined before interconnecting different DRTS, to run complex power system simulations because it is considered one of the main numerical stability issues. In fact, latency could influence on time-domain accuracy and frequency-domain stability of the solution in fast time-stepped simulation. In this work, the time delay of communication protocols that enable DRTS interconnection is measured to ensure that latencies will not affect power system co-simulation results.