The European Securities Services Association (ESSF) welcomes the successful conclusion of the second and final diplomatic Conference on the UNIDROIT Convention on Substantive Rules regarding Intermediated Securities.
The adoption of the Convention marks a major step forward toward creating a much needed global legal framework for the holding, transfer and collateralisation of intermediated securities. We believe that this framework will enhance the stability of national financial markets and their cross-border compatibility and thus promote capital formation.
We strongly encourage the Governments of UNIDROIT member states to ratify and adopt the Convention on a timely basis.
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