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T+1

Euroclear’s pivotal role in Europe’s transition to T+1

It is massively important that settlement cycles are harmonised across international markets and the EU and the UK have both committed to migrating to a mandatory T+1 settlement regime, with trades settled one day after the transaction date, from 11 October 2027. The transition date was only set after a prolonged period of consultation between regulators, industry trade associations and market participants.

Euroclear was an active participant in these consultations from the earliest stages and has also committed to providing resources to support the transition by leading workstreams, contributing as subject matter experts and offering operational support to our clients as they make their own T+1 preparations.

Euroclear as a Financial Market Infrastructure (FMI) is integral to the ecosystem that facilitates the clearing and settlement of trades and will be at the heart of the migration to T+1.

It is important to recognise that many trades already settle on a T+1 basis. 

We have innovative solutions to assist efficient and timely settlement, from our AI powered tools to support efficient trade matching, Taskize, to help resolve matching and settlement issues and partial settlement services to minimise settlement failures and CSDR penalties.

T+1 Pulse Q1 2026 – Industry readiness across the EU, UK and Switzerland

The ValueExchange pulse survey provides a dynamic snapshot of where the industry is on its T+1 journey and is supported by key FMIs and an extensive range of industry associations. We invite you to participate in the T+1 Pulse 2026 Q1 Survey and contribute to creating a benchmark for how perspectives, priorities and preparedness are evolving across the industry.

Building on the work completed in 2025, the survey explores: 

  • lifecycle exposure across trading, funding and asset servicing
  • infrastructure scalability
  • service provider readiness
  • automation and budget alignment
  • market testing timelines
  • cross-market coordination challenges

Highlight the factors that set your own pulse racing and will drive, or delay, successful implementation of T+1 and help the industry understand the collective readiness as we enter a critical phase of the initiative.

Take the survey now on thevalueexchange.co

The path to T+1 in the EU and the UK

There are marked similarities between the EU and UK T+1 governance structures, with both designed to achieve the broadest range of industry engagement and participation.

Many trade associations are common to both groups, as are many of their members.

Euroclear is fully supportive of both transitions and is committing significant resources until the end of 2027 to support a smooth and seamless transition to T+1 throughout Europe.