 The Central Order Book has a matching engine that generates trades with matching algorithms based on trading limits, price, and time.The Auto Matching System shall provide the basic structure for the key product offering of trading between and among public participants.To support the Auto-Matching System, PDEx launched a Market Maker Program with the expressed objective of increasing price liquidity in twelve (12) pre-identified government securities with outstanding size of Php8.0 Billion or higher.