Cell membranes contain a large number of different lipid species. Such a multicomponent mixture exhibits a complex phase behavior with regions of structural and compositional heterogeneity. Especially domains formed in ternary mixtures, composed of saturated and unsaturated lipids together with cholesterol, have received a lot of attention as they may resemble raft formation in real cells. Here we apply a simulation model to assess the molecular nature of these domains at the nanoscale, information that has thus far eluded experimental determination. We are able to show the spontaneous separation of a saturated phosphatidylcholine (PC)/ unsaturated PC/cholesterol mixture into a liquid-ordered and a liquid-disordered phase with structural and dynamic properties closely matching experimental data. The near-atomic resolution of the simulations reveals remarkable features of both domains and the boundary domain interface. Furthermore, we predict the existence of a small surface tension between the monolayer leaflets that drives registration of the domains. At the level of molecular detail, raft-like lipid mixtures show a surprising face with possible implications for many cell membrane processes.A ccording to a recent definition, rafts are small (Ͻ200 nm) heterogeneous, highly dynamic, sterol-and sphingolipidenriched domains that compartmentalize cellular processes (1) and are believed to play an important role in cellular function (2). Although direct observation of rafts in vivo remains complicated, raft-like mixtures in model membranes can form domains that have been visualized directly for an increasing number of experimental systems and conditions (3-7). At cholesterol levels representative of biological membranes (10-30%), mixtures of saturated and unsaturated lipids separate into macroscopic domains of a liquid-ordered (L o ) phase and a liquiddisordered (L d ) phase. The first, raft-like phase is enriched in both cholesterol and the saturated lipid; the second, non-raft phase consists mainly of the unsaturated lipid and is depleted of cholesterol. In order to not confuse the reader concerning the meaning and implication of the term raft, here and throughout the remainder of this article we use the term ''raft-like'' phase or domain to denote the L o phase observed in model membranes. Interestingly, isolated plasma membranes have recently been shown to be capable of forming such domains as well (8, 9). Yet it should be stressed that in real cell membranes raft formation may not resemble macroscopic phase separation. For instance, other recent experiments on plasma membranes demonstrate micrometer-scale composition fluctuations arising from critical demixing behavior (10). The focus of the current work is on phase segregation in model membranes.To interpret the experimental measurements performed on model membranes, knowledge of the structure and dynamics of the domains at the molecular level is essential. Here we report molecular dynamics simulations of the spontaneous formation of raft-like domains in ternar...