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The tutorial begins with the host welcoming attendees and noting the time, suggesting a brief wait for more participants to join. After a moment, they decide to start the session despite some attendees still coming in. The focus of the presentation is on "pledge structures for securities financing transactions." The host clarifies that the session will not cover tri-party repo or stock loan, even though these topics have been inquired about, emphasizing that the discussion will specifically address the aspect of taking collateral as security in securities financing transactions. A brief introduction is set to follow.