yes, it is called that.
he chooses the nicest loaf of bread (while the people pray 'Lord have mercy'), puts a little wine on it and some water and then (after praying) lifts it above his head with the cross (we don't use a lance; we break the bread only using fingers) and prays 'Glory and honour' to God, and processes around the altar.
we don't use a separate table, as the bread does not get broken up until just before we take Holy Communion.
at a specific part towards the end of the liturgy it is incompletely divided into sections, but not separated.
this means there is no lengthy preparation process, and so no separation between the preparation and the rest of the liturgy.
this, i think, is nice.
what we don't do so well, is that we don't do the great entrance (except at major feasts) and i think we really miss out on that. i love it.