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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 in the EU, UK and Switzerland webinar – July 7 | 16:00 CEST

Join the live discussion on the latest T+1 readiness findings across the EU, UK and Switzerland, drawing on insights from The ValueExchange. Our expert, Céline Duquaine, Product Manager, Settlement at Euroclear, will join the discussion.

The session will highlight both the progress made and the remaining gaps in planning, coordination and operational preparedness.

Bringing together market participants and infrastructure providers, it will compare readiness across the three regions, share key insights, and explore the priorities firms should focus on as they move into the next phase of T+1 implementation.

Secure your place today: https://thevx.io/campaign/t1/#register >

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

The Q1 2026 ValueExchange T+1 readiness surveys show that both the UK and EU are making solid progress towards T+1, with engagement levels increasing significantly.

The UK is leading, with 83% of firms actively engaged and ahead of both Europe and North America. However, challenges remain, particularly on the buy-side and with service provider readiness.

In the EU, engagement is also rising (80%), with increasing alignment across the industry and steady progress on implementation, although some concerns persist.

Read the full reports and prepare your organisation for T+1. 

EU >

UK >

Europe publishes a joint T+1 Testing Plan with a call for action in 2026

The EU T+1 Industry Committee, the UK Accelerated Settlement Taskforce, the Swiss Securities Post-Trade Council T+1 Taskforce and the joint Testing Taskforce published their joint T+1 industry Testing Plan on 25 March 2026.

The testing and readiness plan outlines:

  • the general scope and principle on industry-wide testing and the business-readiness activities to consider in preparing for the T+1 transition
  • testing compliance both individually and as part of the industry settlement chain

Access the report now

T+1 Testing Plan (pdf-1.5MB)

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.

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.