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

# Trading

- [Derivatives Clearing](https://docs.reya.xyz/trading/derivatives-clearing.md)
- [Perpetual Futures](https://docs.reya.xyz/trading/perpetual-futures.md)
- [Cross-margining](https://docs.reya.xyz/trading/cross-margining.md)
- [Margin System](https://docs.reya.xyz/trading/margin-system.md)
- [Cross-collateralization](https://docs.reya.xyz/trading/cross-collateralization.md)
- [Haircuts](https://docs.reya.xyz/trading/cross-collateralization/haircuts.md)
- [Auto-exchange conditions](https://docs.reya.xyz/trading/cross-collateralization/auto-exchange-conditions.md)
- [Auto-exchange mechanism](https://docs.reya.xyz/trading/cross-collateralization/auto-exchange-mechanism.md)
- [Liquidation Engine](https://docs.reya.xyz/trading/liquidation-engine.md)
- [Ranked liquidations](https://docs.reya.xyz/trading/liquidation-engine/ranked-liquidations.md)
- [Dutch auction](https://docs.reya.xyz/trading/liquidation-engine/dutch-auction.md)
- [Backstop LPs](https://docs.reya.xyz/trading/liquidation-engine/backstop-lps.md)
- [Insurance Funds](https://docs.reya.xyz/trading/liquidation-engine/insurance-funds.md)
- [Automatic leveraging of PnL across instruments](https://docs.reya.xyz/trading/automatic-leveraging-of-pnl-across-instruments.md)
- [Spot markets](https://docs.reya.xyz/trading/spot-markets.md)
- [Reya Governance](https://docs.reya.xyz/trading/reya-governance.md)
- [The Liquidity Layer](https://docs.reya.xyz/trading/the-liquidity-layer.md): What is the passive liquidity mechanism?
- [Reya’s pool for perpetual futures](https://docs.reya.xyz/trading/the-liquidity-layer/reyas-pool-for-perpetual-futures.md)
- [Offering liquidity in the passive pool](https://docs.reya.xyz/trading/the-liquidity-layer/offering-liquidity-in-the-passive-pool.md)
- [Deepdive into passive perps](https://docs.reya.xyz/trading/the-liquidity-layer/deepdive-into-passive-perps.md)
- [Network Owned Liquidity](https://docs.reya.xyz/trading/the-liquidity-layer/network-owned-liquidity.md)
- [Reya DEX](https://docs.reya.xyz/trading/reya-dex.md): THE UNSTOPPABLE DEX
- [Auto-exchange and Liquidations](https://docs.reya.xyz/trading/reya-dex/auto-exchange-and-liquidations.md)
- [Conditional Orders](https://docs.reya.xyz/trading/reya-dex/conditional-orders.md)
- [Collateral liquidations](https://docs.reya.xyz/trading/reya-dex/collateral-liquidations.md)
- [Settlement and cross-collateralization](https://docs.reya.xyz/trading/reya-dex/settlement-and-cross-collateralization.md)
- [Margin](https://docs.reya.xyz/trading/reya-dex/margin.md)
- [Reya Network](https://docs.reya.xyz/trading/reya-network.md): The Three Pillars of Reya Network
- [The structure of Reya Network](https://docs.reya.xyz/trading/reya-network/the-structure-of-reya-network.md)
- [Who's Behind Reya Network](https://docs.reya.xyz/trading/reya-network/whos-behind-reya-network.md)