Abstract

Subject. The article deals with the transformation of basic trading procedures, mechanisms, and conceptual justifications of the financial market. Objectives. Our aim is to substantiate the genesis of the basic concepts of financial markets and trading practices. Methods. The study employs the evolutionary analysis of both the financial market and the main approaches to its explanation. We assess changes in market processes through structural analysis and identification of drivers, and the logic of ongoing transformations. Results. We underpinned the possibilities and limitations of using traditional financial structures to analyze modern processes associated with the development of algorithmic market procedures. Determining the logic of transitions of conceptual justifications of the financial market, trading practices and technological changes as a single process made it possible to open new research space to study algorithmic-computational transformations of the financial market and the performative function of finance. Conclusions. Analysis of the genesis of the main financial hypotheses and the influence of financial models and structures on the market and its organization enables to conclude about strengthening the performative properties of finance.

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