Formal series over a field (or ring) k can be composed in the following sense: given $y \in k[[x]]$, $y$ lying in the maximal ideal, there exists a unique map of topological rings $k[[x]] \to k[[x]]$ mapping $x$ to $y$.
Is there a similar statement for Puiseux series, $\cup_n k((x^{1/n}))$? I am not sure what a correct statament should sound like, but at least the composition of Puiseux series should specialise to the operation mentioned abouve for formal series.
My intuition is that formal series are germs of analytic functions and their composotion is the compostion of function on the formal level. Puiseux series are germs of multi-valued functions around a branching point and thus also ought to have some operation corresponding to composition defined on them.