kaal:claim:3936876-008

The inefficiencies of paperwork based custodial requirements are what produced the first central securities depository, which substituted electronic book entry records for the physical exchange of certificates.

Source quote, verbatim

The inefficiencies in custodial requirements for paperwork led to the introduction of the first central securities depository (CSD).

From

Wulf A. Kaal, Hayley Howe, Custody of Digital Assets (2021), II.1 Custody Requirements for Traditional Assets, p. 8
https://ssrn.com/abstract=3936876 · source PDF

Cite as

Wulf A. Kaal, Hayley Howe, Custody of Digital Assets (2021). SSRN: https://ssrn.com/abstract=3936876

Holds when

United States securities markets after the 1960s paperwork crisis

Classification

mechanismsupport: arguedsecurities-lawdefi

Verify

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