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The tutorial begins with a welcome to participants, noting a slow start as more attendees join. The speaker mentions the unusual experience of addressing an empty room, which has its advantages. The main topic of the session is "pledge structures for securities financing transactions." The speaker clarifies what will not be covered, specifically tri-party repo and stock loan, indicating that the focus will strictly be on the use of collateral as security in securities financing transactions. A brief introduction is set to follow.