> For the complete documentation index, see [llms.txt](https://docs.nexus.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.nexus.xyz/exchange-layer-1/architecture/architecture.md). # Overview The Nexus Exchange runs on a purpose-built financial execution engine. Its financial modules are native parts of the engine rather than deployed contracts, and traders and applications reach them through one API. ## The Exchange Kernel The core modules form the **Exchange Kernel**, the matching, risk, funding, and liquidation machinery behind every market: * **Central Limit Order Book (CLOB)** matches orders natively with price-time priority. * **Risk Engine** handles margining and real-time position risk. * **Oracle Engine** provides mark and index pricing for every market. * **Liquidation Engine** provides deterministic liquidations and solvency protection. ## Modules and parallelism Each module is an isolated, purpose-built state machine. Independent modules (matching, oracles) run concurrently, and individual modules parallelize internally across markets and accounts. ## One API The Exchange is API-first. Every module is reached through a **native API** (REST and WebSocket) for direct, low-latency access, and the SDKs, CLI, and UI are built on the same API. See the [API Reference](https://docs.nexus.xyz/api-reference). ## Markets BTC, ETH and SOL perpetual futures are listed on testnet today. Equities are next. Commodities and FX are on the roadmap. `GET /markets` is the authority for what is listed at any moment. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation by asking a question. Perform an HTTP GET request on the following URL with the `ask` and `goal` query parameters: ``` GET https://docs.nexus.xyz/exchange-layer-1/architecture/architecture.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is what the user is ultimately trying to achieve, the reason they need the answer. Sharing it helps GitBook give you a better, more relevant answer. A goal is most helpful when it describes the outcome the user wants rather than restating the question. For example, with `ask=how do I create an API token`, a goal like `automate deployments from our CI pipeline` lets GitBook tailor the answer to that use case. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.