T+1 settlement and delivery – A roadmap

The Industry Committee, the governing body for Europe’s move to T+1, published in early July its roadmap to the transition, scheduled for 11 October 2027. This change, which has a strategic bearing on the functioning of European markets, raises significant operational and legal challenges, given the complexity of the Union’s infrastructure and the numerous participating jurisdictions.

The roadmap sets out practical recommendations “by the industry, for the industry”, based chiefly on automating, standardising and coordinating post-trade processes. During the consultation on these proposals, AMAFI, speaking through EFSA, emphasised the need to move quickly into project mode and stressed the importance of working on automating the processes as soon as possible (AMAFI / 25-68).