No, It's something different. There is a setting for the position lever beyond the "fully raised" position.
If you do as Markku described, and put the sensitivity lever to the right, then the arms move up slowly. Very slowly. BUT if the position lever is moved into the rearmost position they come up just as fast as if the sensitivity lever was full to the left. In _this_ position, the pump is running the whole time - when there is a heavy weight on the lift, anyway.
It may be that your tractor is different; Markku implied that this arrangement was because of the Finnish trailer coupling system. I can't comment on that because I don't have any experience of tractors that are for other markets than Finland.
Cheers for now
J-P