Research Note

Market infrastructure is economic security infrastructure.

Control over critical market systems can affect continuity, financial stability, data, technology dependence, and national strategic capacity.

Economic security increasingly extends beyond trade flows to the infrastructure, technology, data, and institutional dependencies that support market function.

Exchanges, clearing systems, settlement rails, custody, payment infrastructure, market data, identity, cloud services, cybersecurity, and specialist technology can each create concentration or dependency that matters under geopolitical or operational stress.

The response is not automatic localization. A resilient architecture distinguishes dependencies that are efficiently external from dependencies that create unacceptable loss of control, continuity, or strategic optionality. That analysis can support procurement, provider diversification, contractual safeguards, interoperability, contingency planning, and targeted domestic or regional capability development.

Market resilience and economic security therefore overlap whenever failure, coercion, or loss of access to an external dependency would impair the state's ability to preserve financial-system function.

Reference basis

National Security and International Economic Law: contemporary economic-security strategies increasingly address supply-chain resilience, critical infrastructure, technology leakage, and the weaponization of economic dependencies.