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CME Group provides a 2-deep best bid and ask in the market for each implied-eligible futures contract. Implied book updates are denoted by tag 269-MDEntyrTypeMDEntryType=E (implied bid) and F (implied offer). Implied eligible instruments are designated on the Security Definition Message (tag 35-MsgType=d) via tag 1022-MDFeedType=GBI. When a trade occurs, CME Globex sends Delete (all available quantity at given level matched) and Change (update remaining quantity at given level) data blocks to update the Market by Price (MBP) book accordingly. The Trade data block itself is not used to update the MBP order book.

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