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The video begins with a welcome from the host, who thanks attendees for joining and prepares to start the presentation on pledge structures for securities financing transactions. The host acknowledges the slightly odd experience of speaking in front of an empty room but appreciates the lack of potential heckling. They clarify that the session will focus specifically on taking collateral through security in securities financing transactions and will not cover tri-party repo or stock loan, as those topics are separate. The host then moves on to provide a brief introduction to the subject matter.