Market engines - Bayse Markets

Bayse supports two types of market engines. Each event uses one engine for all of its markets.

AMM (Automated Market Maker)

Algorithmic pricing based on supply/demand.
No order book — instant execution.
Price adjusts automatically after each trade.
Liquidity is always available, however depth depends on individual markets.

Example trade:

{
  "side": "BUY",
  "outcome": "YES",
  "amount": 100,
  "currency": "USD"
}

CLOB (Central Limit Order Book)

Traditional order book with bids and asks.
Users place limit orders at specific prices.
Orders match when prices overlap.
Liquidity depth is determined by market participants.

Example trade:

{
  "side": "BUY",
  "outcome": "YES",
  "amount": 100,
  "price": 0.65,
  "currency": "USD"
}

The engine field on an event tells you which engine it uses. See Order lifecycle for how orders behave differently under each engine.