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From: Robov	1/6/2014 11:30:22 AM
	of 14245

What Is A "Velocity Logic" Event?Submitted by Tyler Durden on 01/06/2014 - 11:19 Velocity Logic is designed to detect market movement of a predefined number of points either up or down within a predefined time. Velocity Logic introduces a momentary suspension in matching by transitioning the futures instrument(s) and related options into the Reserved/Pause State. When a lead month futures instrument is placed in the Reserved State, the following actions occur in the corresponding options markets: Options auto-reserve functionality automatically pauses matching in the associated options and options strategies markets. All resting mass quotes are canceled when the auto-reserve functionality is initiated. This Reserved State is maintained for a few seconds after the futures instrument has resumed trading. During the reserved period, customers can submit, modify and cancel orders. Mass quotes are rejected. Allowing the user community this momentary opportunity to enter, modify, or cancel orders in this situation provides the ability to re-establish the proper market prices. The market data Security Status (tag 35-MsgType=f) message is used to communicate the instrument status during the Velocity Logic event.

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