Central Limit Order Book (CLOB)

    Asset trading exchanges use a trading model known as a central limit order book (CLOB). Central limit order books function by matching customer orders (bids) and utilizing a “price-time priority” mechanism to ensure that orders with the highest bid are executed as soon as possible. CLOBs are widely regarded as highly transparent, real-time anonymous (allowing customers to trade anonymously), extremely fast, and less expensive to use than other alternatives.