Journey to T+1

Shortening the settlement period

Based on the recommendation of the European Securities and Markets Authority (ESMA) report, the European Union (EU) plans to shorten the settlement cycle for securities from T+2 to T+1. 

The move to T+1 is targeted for 11 October 2027, with the aim of increasing settlement efficiency and the resilience of EU capital markets. 

Clearstream, in its role as a CSD, supports the move to T+1 and will help clients to transition to T+1.