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Executive Summary

This white paper launches the final stage in the industry’s long-standing campaign to achieve full dematerialization in the U.S. financial markets. It also opens a formal discussion among industry stakeholders to gain consensus on critical next steps. 

Complete dematerialization will contribute to a more cost-effective, efficient, secure and competitive U.S. marketplace. It will also support the industry’s move to a shorter settlement cycle, as handling physical securities, already a burden in today’s markets, could be a source of risk in a shorter cycle. What’s more, it will strengthen the global competitiveness of U.S. markets. Dozens of countries across Europe, the Asia-Pacific, Africa and Latin America have stopped issuing paper certificates altogether.

Download the White Paper: Proposal To Fully Dematerialize Physical Securities, Eliminating the Costs and Risks They Incur