Hague Securities Convention enters into force
On Saturday 1 April 2017, the Hague Convention of 5 July 2006 on the Law Applicable to Certain Rights in Respect of Securities held with an Intermediary (Hague Securities Convention) entered into force. The Convention provides legal certainty and predictability as to the law governing issues that are of crucial practical importance for cross-border holdings and transfers of intermediated securities. As a result, it markedly improves transactional efficiencies in global securities markets, reduces systemic risk, and facilitates cross-border access to capital.
It is on this auspicious occasion that the Permanent Bureau wishes to renew its deep gratitude to the three Co-Rapporteurs of the Explanatory Report to the Securities Convention: Professor Roy Goode (United Kingdom), Professor Hideki Kanda (Japan) and Professor Karl Kreuzer (Germany). Moreover, to celebrate the entry into force of the Convention, the Permanent Bureau has published a second, re-designed edition of this Explanatory Report, of which the substantive text remains unchanged. For more information, see here.
The Hague Securities Convention presently counts three States Parties: the United States of America , Switzerland and Mauritius .