Center Lock is Shimano's splined rotor mount: the rotor slides onto the hub splines and is fixed with a single central lockring at 40 N·m. It's faster to fit and remove than 6-bolt and centers the rotor perfectly. There are two lockring types: internal (tightened with a cassette-type tool like FR-5) and external (with a bottom-bracket tool; required on 15/20 mm thru-axles). Although it's Shimano's, SRAM adopted it: it's an open standard.
If mounting the rotor took 20 seconds and a single nut, you have Center Lock. Fast, centered and increasingly common.
Instead of 6 bolts, the rotor engages the hub splines and locks with a central lockring at 40 N·m. That removes the warping risk from uneven tension and speeds up swaps. Mind the lockring type: the internal one uses the cassette tool (won't fit thick axles), and the external one, using the BB tool, is required on 15/20 mm front thru-axle hubs.
It fits only hubs with Center Lock splines (Shimano, SRAM and many DT Swiss). It accepts Center Lock rotors of any brand (it's an open standard) and, with a specific adapter, 6-bolt rotors. It won't fit 6-hole hubs.
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40 N·m. It's high: you must really tighten it, even though the ratchet clicks; if left loose, the rotor wobbles and damages the splines.
Depends on the lockring: the internal one uses the cassette tool (FR-5); the external one uses the BB tool (16-notch), required on 15/20 mm front axles.
Yes. The Center Lock spline is an open standard both brands use identically.