Retrieving "Limit Order Books (lobs)" from the archives

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1. Regulated Exchanges

   Linked via "limit order books (LOBs)"

   Market Structures and Trading Mechanisms
   Modern regulated exchanges predominantly employ electronic limit order books (LOBs)/). The LOB matches the highest outstanding bid price with the lowest outstanding ask price. The speed and efficiency of this matching process are critical performance metrics.
   Latency and Arbitrage