In the context of securitisations, book-entry refers to a system of recording ownership of
securities that does not involve the physical transfer of certificates. In a book-entry system, ownership of securities is recorded in a central register, and investors are issued electronic records of ownership.
Book-entry systems have a number of advantages over traditional certificate-based systems. They are more efficient, as they eliminate the need to physically move certificates. They are also more secure, as they reduce the risk of certificates being lost or stolen. Additionally, book-entry systems can make it easier for investors to trade securities, as they do not need to wait for certificates to be delivered.