# Auctioneer

The Auctioneer contract allows users to create and manage bond markets. All bond pricing logic and market data is stored in the Auctioneer.  An Auctioneer is dependent on a Teller to serve external users and an Aggregator to register new markets.

<figure><img src="https://content.gitbook.com/content/RLNHGppzWLIBhbHOvrRS/blobs/FFexEa1tqLSkljmBvEmE/Bond%20System%20-%20Auctioneer%20Inheritance.png" alt=""><figcaption></figcaption></figure>