Market architecture.
Map the complete transaction and institutional system before changing any one layer.
A market is a coordinated system of rights, participants, rules, technology, liquidity, data, risk allocation, settlement, governance, and continuity.
Market purpose and products
Participant eligibility and access
Legal rights and obligations
Price formation
Trading rules
Market data
Clearing and settlement
Custody and ownership records
Risk allocation
Governance and oversight
Surveillance and enforcement
Technology and resilience
One operating picture.
A market-system map identifies each participant, transaction, dependency, legal relationship, data flow, control point, settlement obligation, and failure pathway.
The map supports strategy, procurement, modernization, regulatory analysis, and institutional decision-making.