挪用客户交易结算资金是我国证券法律规范禁止的欺诈客户行为之一。从经济分析法学角度看 ,该行为普遍存在是由于证券商趋利本能没能通过合法途径予以满足或引导的结果。从技术手段上看 ,是证券商与投资者资金帐户明分实合。因此 ,有必要完善证券法律规范和交易结算制度 ,探求切实可行的法律责任体系 ,为消除、抑制该行为的发生而努力 Misappropriation of customer transaction settlement funds is one of the fraudulent customer behaviors prohibited by the securities law of our country. From the perspective of economic analysis law, this behavior is ubiquitous because the securities firm’s profit instinct can not be met or led through legal channels. From a technical point of view, it is clear that securities companies and investors fund accounts. Therefore, it is necessary to improve the securities law norms and transaction settlement system, to explore practical legal liability system, in order to eliminate, inhibit the occurrence of the behavior and work hard