MSF is a radio callsign, and not an abbreviation. 'M' is one of the prefixes allocated to the United Kingdom, and the letters 'SF' were randomly allocated. However, Post Office staff that operated the station in 1951 insist that the name derives from the Modulated Standard Frequency scientific reference transmissions started in that year.
The MSFtimesignal is broadcast from Rugby, central UK, the coverage of the MSFsignal is the whole of the British Isles.
However, the MSFtimesignal can also be received throughout much of Western Europe, including Ireland and the Channel Islands.
The big advantage of MSF over GPS is that generally a good signal can be received by the time server indoors close to the host computer or time server.