Trading accounts, venues, assets, and instruments

Structure separates where trading happens (venues and instruments) from how it is authorized (trading accounts). This page explains how those pieces fit together.

Venues

A venue is any place where trades can occur, such as:

• Hyperliquid during the launch phase.
• Other supported exchanges or protocols as Structure adds venue coverage.

Each venue has a human-readable name and a supported set of instruments, account requirements, and permission labels.

From your perspective, venues are:

• The exchanges or protocols you connect in Trading accounts.
• The labels you see in Holdings and strategy‑level views (for example, “Hyperliquid”).

Assets

An asset is a base currency or token:

• Crypto assets such as SOL or USDC.
• Fiat currencies such as USD.

Assets have properties like:

• Symbol – for example, SOL.
• Name – human‑readable name.
• Type – crypto vs fiat.
• For crypto:
  • Which blockchain it lives on.
  • Its number of decimals.

Assets appear in:

• Balances and holdings (for example, “You hold 12.34 SOL”).
• Any price or P&L metrics that require a base unit.

Instruments

An instrument is a specific market you can trade, such as:

• A spot pair (SOL/USDC).
• A perpetual contract (SOL‑PERP).

Each instrument is linked to:

• A venue (for example, the exchange where SOL‑PERP trades).
• One or more underlying assets.

In the UI you typically see:

• Instrument symbols when configuring strategies.
• Positions per instrument in advanced holdings or P&L breakdowns.

Trading accounts

A trading account is how Structure trades on your behalf at a venue. It wraps the details of:

• Which venue the account is on.
• Which specific venue account is connected.
• How Structure is authorized to execute and monitor that account.

Structure is Hyperliquid-first at launch. As venue support expands, the product will show the account details and permission labels that apply to each supported venue.

Connected account boundary

A connected trading account is specific to one venue account. It does not grant Structure access to unrelated wallets, exchange accounts, venues, withdrawals, or transfers.

Where the venue supports permission scoping, Structure uses the permissions required for strategy execution and account monitoring. Withdrawal and transfer permissions are not part of the launch account model.

Each trading account has:

• A human‑readable display name.
• A venue.
• A confirmation status:
  • pending – created but not yet verified.
  • confirming – undergoing venue authorization or account validation checks.
  • confirmed – eligible for live deployment execution.
  • failed – confirmation failed; see details.
• An optional link to a strategy that uses this account.

Why confirmation is required

Confirmation ensures that:

• You truly own or control the account.
• Necessary permissions are correctly set for strategy execution and account monitoring.
• The account is in a valid state for automated trading.

Only confirmed accounts are eligible for live deployment execution and holdings aggregation.

You can remove a connected account in Structure or revoke Structure’s access at the venue. After access is removed, any live deployment using that account no longer has venue authorization for it.

How everything ties together

Putting it all together:

• Venues define where markets live.
• Assets are the tokens or currencies that underlie positions and balances.
• Instruments are specific markets (spot or derivatives) at venues.
• Trading accounts:
  • Sit at the boundary between you and a venue.
  • Hold balances and positions in instruments and assets.
  • Are the channels through which live deployments operate.

From a high level:

• Strategies emit target positions.
• The Target Position Executor manages order activity through specific trading accounts to move account positions toward those targets.
• Resulting positions and balances are recorded per trading account and per instrument/asset.
• The Holdings view then aggregates this into the portfolio‑style summaries you see in the UI.

Direct order actions are roadmap functionality. When introduced, they will let strategies place, cancel, and modify orders directly for strategies that need order-level control.

Understanding this model helps you answer:

• “On which venues am I actually trading?”
• “Which accounts belong to which strategies?”
• “How do my token and instrument‑level exposures relate to each other?”