By Yasmine EDDAM
13 June 2025
The pledge of financial instrument accounts is an essential guarantee tool for companies seeking to obtain credit or secure market transactions. Particularly effective and relatively flexible, this security makes it possible to mobilise a portfolio of securities without losing ownership. However, its implementation is based on a technical legal system that must be mastered to guarantee its validity and effectiveness. This is a special form of security, the mechanisms of which need to be understood in addition to the fundamental principles of pledging under French law. This article sets out the rules governing this form of security and the practical implications for both creditors and debtors. Understanding the pledge of financial instrument accounts The pledge of a financial instrument account, sometimes still referred to as a "securities account pledge" in the old terminology, is a real security interest without dispossession. In practical terms, the holder of an account in which the...
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