Subject. This article examines the evolution of the basic functions of the stock market, which have been most changed under the influence of digitalization. Objectives. The article aims to analyze the impact of digitalization processes on the basic functions of the stock market, identify new patterns of their development, and develop recommendations for improving the mechanisms of market regulation. Methods. For the study, I used systems, comparative, and institutional analyses. Results. The article presents the key aspects of the impact of digitalization processes on the functions of the stock market, the transformation of mechanisms for their implementation, and offers recommendations for adapting the institutional regulation of the stock market to the new challenges of digital transformation. Conclusions and Relevance. The results obtained can contribute to understanding the changes taking place in the stock market under the influence of digitalization, and can be used to develop rules and regulations for the activities of stock market participants, regulators and financial institutions.
Keywords: stock market, price discovery, liquidity, information asymmetry, digitalization
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