When you click on any token pair in Markets it will bring you to that token pairs market exchange. This example uses the TLM to WAX market in the WAX mainnet. The information on token pairs in other mainnets may be slightly different.
TLM to WAX market
Red Box - Shows all open orders or the "Order books".
Yellow Box - Graphical information on your selected token pair.
Orange Box - An easy way to switch between markets without going back to the markets page.