The central limit order book is the list of limit and market orders that have not yet resulted in a transaction.

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The central limit order book (CLOB) is a list of buy and sell orders for a specific security or financial instrument organized by price level that have not yet been matched or executed. It primarily includes limit orders, not market orders, since market orders are executed immediately upon entry based on available limit orders.

The Central Limit Order Book Is the List of Limit