> For the complete documentation index, see [llms.txt](https://docs.defx.com/docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.defx.com/docs/archive/defx-platform-overview/central-limit-order-book-clob.md).

# Central-Limit Order Book (CLOB)

At the heart of Defx is a Central Limit Order Book (CLOB) that ensures every trade is executed with transparency and fairness. Unlike Automated Market Makers (AMMs), the CLOB model allows for more efficient price discovery and tighter spreads, leading to better trade execution for participants. This system matches buy and sell orders based on price and time priority, ensuring that the best possible price is always achieved for both makers and takers.


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