Securities Market Structure

Definition ∞ Securities Market Structure refers to the overarching framework of rules, systems, and participants that govern the issuance, trading, and settlement of securities. This includes exchanges, brokers, clearinghouses, and regulatory bodies. In the context of digital assets, discussions center on how existing structures apply to or need adaptation for tokenized securities and other digital investment products. It defines how financial instruments are bought and sold.
Context ∞ News frequently addresses the intersection of digital assets and securities market structure, particularly as regulators assess how to classify and oversee various tokens. The debate over whether certain cryptocurrencies constitute securities significantly impacts their trading venues and regulatory treatment. Modernizing market structures to accommodate digital assets while maintaining investor protection is a key challenge.