Never heard the term 'rattrapante' applied to anything other than a chronograph so Parmigiani is playing fast and loose here. It seems simple enough, it just has an extra hour hand that the user can set for a second time zone. On their website they describe it as a 'second time zone' complication. So it's not a real rattrapante nor a 24 hour GMT watch as classically described. It's not a bad looking watch, just poorly named, but prospective owners won't know what a rattrapante chrono or a real GMT complication is either.
And I do find it odd that it doesn't have a date, most travellers would want to have a date function, no?
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