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This research examines the conflicts in legal traditions and their effect on the underlying conceptual structure of securities in financial markets. This practical development has led to poor availability of investment products and under-performance of the Nigerian Capital Market. The research adopts the contextualist approach to achieve semantic legal re-modelling of the incoherent definitional conceptual structure of securities occasioned by the conflicts between formalism and functionalism. In terms of relevance and applicability, the models in this book support the development of programming language, codes, symbols and protocols necessary for improved development of investment products. It could also support security enforcement mechanism; clarify real world behaviour against underlying assumptions and provide a basis for product and market analysis to achieve internal consistency.