# Order Book

VDEX operates a central limit order book with bids and asks sorted by price. Orders can be placed in integer multiples of the [asset tick size](/trading/vdexcore/contract-specifications.md). Orders are matched in price-time priority.

The clearing house verifies margin during order creation and matching. If margin is insufficient to cover the full order, it will be reduced until a partial match can be executed.

VDEX orders execute peer-to-peer via [Virtual Rollups](broken://pages/o3FwAB5qpfDXyxpSLdU2), not through a centralized backend or blockchain. Transactions are not batched and are executed in the order received. This prevents MEV attack vectors whereby orders are placed and processed jointly.


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