diff -r 13cd8ea4cafe Lib/distutils/command/build_ext.py
--- a/Lib/distutils/command/build_ext.py	Fri Sep 05 11:00:56 2014 +0300
+++ b/Lib/distutils/command/build_ext.py	Fri Sep 05 11:45:58 2014 +0200
@@ -4,7 +4,10 @@
 modules (currently limited to C extensions, should accommodate C++
 extensions ASAP)."""
 
-import sys, os, re
+import contextlib
+import os
+import re
+import sys
 from distutils.core import Command
 from distutils.errors import *
 from distutils.sysconfig import customize_compiler, get_python_version
@@ -13,6 +16,7 @@
 from distutils.extension import Extension
 from distutils.util import get_platform
 from distutils import log
+import traceback
 
 # this keeps compatibility from 2.3 to 2.5
 if sys.version < "2.6":
@@ -91,6 +95,8 @@
          "forcibly build everything (ignore file timestamps)"),
         ('compiler=', 'c',
          "specify the compiler type"),
+        ('parallel=', 'j',
+         "parallel build jobs"),
         ('swig-cpp', None,
          "make SWIG create C++ files (default is C)"),
         ('swig-opts=', None,
@@ -133,6 +139,7 @@
         self.swig_cpp = None
         self.swig_opts = None
         self.user = None
+        self.parallel = False
 
     def finalize_options(self):
         from distutils import sysconfig
@@ -268,6 +275,9 @@
         if self.undef:
             self.undef = self.undef.split(',')
 
+        if isinstance(self.parallel, str):
+            self.parallel = int(self.parallel)
+
         if self.swig_opts is None:
             self.swig_opts = []
         else:
@@ -451,15 +461,46 @@
     def build_extensions(self):
         # First, sanity-check the 'extensions' list
         self.check_extensions_list(self.extensions)
+        if self.parallel:
+            self._build_extensions_parallel()
+        else:
+            self._build_extensions_serial()
 
+    def _build_extensions_parallel(self):
+        workers = self.parallel
+        if self.parallel is True:
+            workers = os.cpu_count()  # may return None
+        try:
+            from concurrent.futures import ThreadPoolExecutor
+        except ImportError:
+            traceback.print_exc()
+            workers = None
+
+        if workers is None:
+            self._build_extensions_serial()
+            return
+
+        with ThreadPoolExecutor(max_workers=workers) as executor:
+            futures = [executor.submit(self.build_extension, ext)
+                       for ext in self.extensions]
+            for ext, fut in zip(self.extensions, futures):
+                with self._filter_build_errors(ext):
+                    fut.result()
+
+    def _build_extensions_serial(self):
         for ext in self.extensions:
-            try:
+            with self._filter_build_errors(ext):
                 self.build_extension(ext)
-            except (CCompilerError, DistutilsError, CompileError) as e:
-                if not ext.optional:
-                    raise
-                self.warn('building extension "%s" failed: %s' %
-                          (ext.name, e))
+
+    @contextlib.contextmanager
+    def _filter_build_errors(self, ext):
+        try:
+            yield
+        except (CCompilerError, DistutilsError, CompileError) as e:
+            if not ext.optional:
+                raise
+            self.warn('building extension "%s" failed: %s' %
+                      (ext.name, e))
 
     def build_extension(self, ext):
         sources = ext.sources
diff -r 13cd8ea4cafe Lib/distutils/tests/test_build_ext.py
--- a/Lib/distutils/tests/test_build_ext.py	Fri Sep 05 11:00:56 2014 +0300
+++ b/Lib/distutils/tests/test_build_ext.py	Fri Sep 05 11:45:58 2014 +0200
@@ -38,6 +38,9 @@
             from distutils.command import build_ext
             build_ext.USER_BASE = site.USER_BASE
 
+    def build_ext(self, *args, **kwargs):
+        return build_ext(*args, **kwargs)
+
     def test_build_ext(self):
         global ALREADY_TESTED
         copy_xxmodule_c(self.tmp_dir)
@@ -45,7 +48,7 @@
         xx_ext = Extension('xx', [xx_c])
         dist = Distribution({'name': 'xx', 'ext_modules': [xx_ext]})
         dist.package_dir = self.tmp_dir
-        cmd = build_ext(dist)
+        cmd = self.build_ext(dist)
         fixup_build_ext(cmd)
         cmd.build_lib = self.tmp_dir
         cmd.build_temp = self.tmp_dir
@@ -93,7 +96,7 @@
 
     def test_solaris_enable_shared(self):
         dist = Distribution({'name': 'xx'})
-        cmd = build_ext(dist)
+        cmd = self.build_ext(dist)
         old = sys.platform
 
         sys.platform = 'sunos' # fooling finalize_options
@@ -115,7 +118,7 @@
     def test_user_site(self):
         import site
         dist = Distribution({'name': 'xx'})
-        cmd = build_ext(dist)
+        cmd = self.build_ext(dist)
 
         # making sure the user option is there
         options = [name for name, short, lable in
@@ -146,14 +149,14 @@
         # with the optional argument.
         modules = [Extension('foo', ['xxx'], optional=False)]
         dist = Distribution({'name': 'xx', 'ext_modules': modules})
-        cmd = build_ext(dist)
+        cmd = self.build_ext(dist)
         cmd.ensure_finalized()
         self.assertRaises((UnknownFileError, CompileError),
                           cmd.run)  # should raise an error
 
         modules = [Extension('foo', ['xxx'], optional=True)]
         dist = Distribution({'name': 'xx', 'ext_modules': modules})
-        cmd = build_ext(dist)
+        cmd = self.build_ext(dist)
         cmd.ensure_finalized()
         cmd.run()  # should pass
 
@@ -162,7 +165,7 @@
         # etc.) are in the include search path.
         modules = [Extension('foo', ['xxx'], optional=False)]
         dist = Distribution({'name': 'xx', 'ext_modules': modules})
-        cmd = build_ext(dist)
+        cmd = self.build_ext(dist)
         cmd.finalize_options()
 
         from distutils import sysconfig
@@ -174,14 +177,14 @@
 
         # make sure cmd.libraries is turned into a list
         # if it's a string
-        cmd = build_ext(dist)
+        cmd = self.build_ext(dist)
         cmd.libraries = 'my_lib, other_lib lastlib'
         cmd.finalize_options()
         self.assertEqual(cmd.libraries, ['my_lib', 'other_lib', 'lastlib'])
 
         # make sure cmd.library_dirs is turned into a list
         # if it's a string
-        cmd = build_ext(dist)
+        cmd = self.build_ext(dist)
         cmd.library_dirs = 'my_lib_dir%sother_lib_dir' % os.pathsep
         cmd.finalize_options()
         self.assertIn('my_lib_dir', cmd.library_dirs)
@@ -189,7 +192,7 @@
 
         # make sure rpath is turned into a list
         # if it's a string
-        cmd = build_ext(dist)
+        cmd = self.build_ext(dist)
         cmd.rpath = 'one%stwo' % os.pathsep
         cmd.finalize_options()
         self.assertEqual(cmd.rpath, ['one', 'two'])
@@ -198,32 +201,32 @@
 
         # make sure define is turned into 2-tuples
         # strings if they are ','-separated strings
-        cmd = build_ext(dist)
+        cmd = self.build_ext(dist)
         cmd.define = 'one,two'
         cmd.finalize_options()
         self.assertEqual(cmd.define, [('one', '1'), ('two', '1')])
 
         # make sure undef is turned into a list of
         # strings if they are ','-separated strings
-        cmd = build_ext(dist)
+        cmd = self.build_ext(dist)
         cmd.undef = 'one,two'
         cmd.finalize_options()
         self.assertEqual(cmd.undef, ['one', 'two'])
 
         # make sure swig_opts is turned into a list
-        cmd = build_ext(dist)
+        cmd = self.build_ext(dist)
         cmd.swig_opts = None
         cmd.finalize_options()
         self.assertEqual(cmd.swig_opts, [])
 
-        cmd = build_ext(dist)
+        cmd = self.build_ext(dist)
         cmd.swig_opts = '1 2'
         cmd.finalize_options()
         self.assertEqual(cmd.swig_opts, ['1', '2'])
 
     def test_check_extensions_list(self):
         dist = Distribution()
-        cmd = build_ext(dist)
+        cmd = self.build_ext(dist)
         cmd.finalize_options()
 
         #'extensions' option must be a list of Extension instances
@@ -272,7 +275,7 @@
     def test_get_source_files(self):
         modules = [Extension('foo', ['xxx'], optional=False)]
         dist = Distribution({'name': 'xx', 'ext_modules': modules})
-        cmd = build_ext(dist)
+        cmd = self.build_ext(dist)
         cmd.ensure_finalized()
         self.assertEqual(cmd.get_source_files(), ['xxx'])
 
@@ -281,7 +284,7 @@
         # should not be overriden by a compiler instance
         # when the command is run
         dist = Distribution()
-        cmd = build_ext(dist)
+        cmd = self.build_ext(dist)
         cmd.compiler = 'unix'
         cmd.ensure_finalized()
         cmd.run()
@@ -294,7 +297,7 @@
         ext = Extension('foo', [c_file], optional=False)
         dist = Distribution({'name': 'xx',
                              'ext_modules': [ext]})
-        cmd = build_ext(dist)
+        cmd = self.build_ext(dist)
         fixup_build_ext(cmd)
         cmd.ensure_finalized()
         self.assertEqual(len(cmd.get_outputs()), 1)
@@ -357,7 +360,7 @@
         #etree_ext = Extension('lxml.etree', [etree_c])
         #dist = Distribution({'name': 'lxml', 'ext_modules': [etree_ext]})
         dist = Distribution()
-        cmd = build_ext(dist)
+        cmd = self.build_ext(dist)
         cmd.inplace = 1
         cmd.distribution.package_dir = {'': 'src'}
         cmd.distribution.packages = ['lxml', 'lxml.html']
@@ -464,7 +467,7 @@
             'ext_modules': [deptarget_ext]
         })
         dist.package_dir = self.tmp_dir
-        cmd = build_ext(dist)
+        cmd = self.build_ext(dist)
         cmd.build_lib = self.tmp_dir
         cmd.build_temp = self.tmp_dir
 
@@ -483,8 +486,19 @@
             self.fail("Wrong deployment target during compilation")
 
 
+class ParallelBuildExtTestCase(BuildExtTestCase):
+
+    def build_ext(self, *args, **kwargs):
+        build_ext = super().build_ext(*args, **kwargs)
+        build_ext.parallel = True
+        return build_ext
+
+
 def test_suite():
-    return unittest.makeSuite(BuildExtTestCase)
+    suite = unittest.TestSuite()
+    suite.addTest(unittest.makeSuite(BuildExtTestCase))
+    suite.addTest(unittest.makeSuite(ParallelBuildExtTestCase))
+    return suite
 
 if __name__ == '__main__':
-    support.run_unittest(test_suite())
+    support.run_unittest(__name__)
diff -r 13cd8ea4cafe Modules/Setup.dist
--- a/Modules/Setup.dist	Fri Sep 05 11:00:56 2014 +0300
+++ b/Modules/Setup.dist	Fri Sep 05 11:45:58 2014 +0200
@@ -118,6 +118,7 @@
 itertools itertoolsmodule.c    # Functions creating iterators for efficient looping
 atexit atexitmodule.c      # Register functions to be run at interpreter-shutdown
 _stat _stat.c			# stat.h interface
+time timemodule.c		# time module
 
 # access to ISO C locale support
 _locale _localemodule.c  # -lintl
diff -r 13cd8ea4cafe setup.py
--- a/setup.py	Fri Sep 05 11:00:56 2014 +0300
+++ b/setup.py	Fri Sep 05 11:45:58 2014 +0200
@@ -25,6 +25,11 @@
 py_cflags_nodist = sysconfig.get_config_var('PY_CFLAGS_NODIST')
 sysconfig.get_config_vars()['CFLAGS'] = cflags + ' ' + py_cflags_nodist
 
+class Dummy:
+    """Hack for parallel build"""
+    ProcessPoolExecutor = None
+sys.modules['concurrent.futures.process'] = Dummy
+
 def get_platform():
     # cross build
     if "_PYTHON_HOST_PLATFORM" in os.environ:
@@ -173,6 +178,7 @@
     def __init__(self, dist):
         build_ext.__init__(self, dist)
         self.failed = []
+        self.parallel = True
 
     def build_extensions(self):
 
@@ -252,6 +258,9 @@
 
         build_ext.build_extensions(self)
 
+        for ext in self.extensions:
+            self.check_extension_import(ext)
+
         longest = max([len(e.name) for e in self.extensions])
         if self.failed:
             longest = max(longest, max([len(name) for name in self.failed]))
@@ -295,6 +304,15 @@
                           (ext.name, sys.exc_info()[1]))
             self.failed.append(ext.name)
             return
+
+    def check_extension_import(self, ext):
+        # Don't try to import an extension that has failed to compile
+        if ext.name in self.failed:
+            self.announce(
+                'WARNING: skipping import check for failed build "%s"' %
+                ext.name, level=1)
+            return
+
         # Workaround for Mac OS X: The Carbon-based modules cannot be
         # reliably imported into a command-line Python
         if 'Carbon' in ext.extra_link_args: