[However, the Guide does cover non-intermediated securities because of the importance of such securities to secured transactions involving small- and medium-sized businesses (see A/CN.9/631, recommendation 4, subpara. (c))].
[不过，指南涵盖了非中介证券，因为这类证券对涉及中小型企业的担保交易很重要（见A/CN.9/631，建议4(c)项）。