Market structure

Order book

A list of buy and sell orders on an exchange.

What it means

Order books show visible bids, asks, sizes, and spreads for centralized or order-book-based venues.

Why it matters

Thin books create slippage and can make quoted prices fragile.

Same category

Related glossary reads

Market structure

Liquidity

How easily an asset can be bought or sold without moving price heavily.

Glossary read
Market structure

Slippage

The difference between expected price and executed price.

Glossary read
Market structure

Holder concentration

How much supply is controlled by the largest wallets.

Glossary read
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