The High-Level Roadmap marks a major milestone in the EU’s transition to T+1. The EU T+1 Industry Committee has released its Report to assist market participants in preparing for the transition to a T+1 settlement cycle, set to take effect on 11 October 2027. The report outlines critical operational considerations and proposes coordinated steps to help firms align processes and budgets with the new regime.
Roadmap to T+1 Securities settlement
High-level Roadmap to T+1 Securities settlement in the EU
T+1
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30 Jun 25
- From a trading perspective, the Report mentions that the European market structure is highly diverse, shaped by varying national practices, investor types, and technological maturity across Member States. In this context, maintaining flexible trading cut-off times is critical—not only for operational reasons but as a strategic imperative.
- Flexibility supports retail and global investor participation, enhances accessibility, and safeguards Europe’s competitiveness as U.S. markets move toward 24-hour trading.
- To meet the demands of a T+1 environment, operational coordination is needed among trading venues, CCPs, CSDs, and settlement agents. This includes aligning end-of-day signals from trading venues to CCPs, streamlining allocation and confirmation timelines, and updating trading venues’ rulebooks to reflect the new settlement standard.