Equations

Equation 1:

$S(v,s)= (\frac{v-s}{v})^2 \cdot b$

Equation 2:

$Q_{one}= S(v,Spread_{m_1}) \cdot BidSize_{m_1} + S(v,Spread_{m_2}) \cdot BidSize_{m_2} + \dots $ $ + S(v, Spread_{m^\prime_1}) \cdot AskSize_{m^\prime_1} + S(v, Spread_{m^\prime_2}) \cdot AskSize_{m^\prime_2}$

Equation 3:

$Q_{two}= S(v,Spread_{m_1}) \cdot AskSize_{m_1} + S(v,Spread_{m_2}) \cdot AskSize_{m_2} + \dots $ $ + S(v, Spread_{m^\prime_1}) \cdot BidSize_{m^\prime_1} + S(v, Spread_{m^\prime_2}) \cdot BidSize_{m^\prime_2}$

Equation 4:

Equation 4a:

If midpoint is in range [0.10,0.90] allow single sided liq to score:

$Q_{\min} = \max(\min({Q_{one}, Q_{two}}), \max(Q_{one}/c, Q_{two}/c))$

Equation 4b:

If midpoint is in either range [0,0.10) or (.90,1.0] require liq to be double sided to score:

$Q_{\min} = \min({Q_{one}, Q_{two}})$

Equation 5:

$Q_{normal} = \frac{Q_{min}}{\sum_{n=1}^{N}{(Q_{min})_n}}$

Equation 6:

$Q_{epoch} = \sum_{u=1}^{10,080}{(Q_{normal})_u}$

Equation 7:

$Q_{final}=\frac{Q_{epoch}}{\sum_{n=1}^{N}{(Q_{epoch})_n}}$