> For the complete documentation index, see [llms.txt](https://docs.ticko.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.ticko.xyz/trading-on-ticko/matching-rules.md).

# Matching Rules

Orders are matched on-chain using price-time priority.

**Priority:**

1. **Price**: Buy orders at higher prices match first. Sell orders at lower prices match first.
2. **Time**: Orders at the same price are matched in the sequence they were received (FIFO).

**Execution:**

Each order is fully processed before the next order in the block is evaluated. Within a single block, orders execute sequentially.

**Order modification:**

Modifying an order's price results in the order losing its queue position (treated as cancel and re-place). Reducing quantity only preserves queue position.


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