Guides & Resources

This section includes Committee publications and regulatory updates. Access key documents, guidance materials, and technical references to support your organization’s T+1 readiness.

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EU T+1 Implementation Handbook

The EU T+1 Handbook is a comprehensive industry guide designed to help European financial market participants prepare for the transition to a T+1 securities settlement cycle, going live in October 2027 by translating the EU T+1 High‑Level Roadmap into practical operational guidance.

The document is accessible by clicking this link.

Additional guidance on partial settlement, SSIs and SFTs

To support industry participants in their adherence to key pre-settlement recommendations outlined in the High-level Roadmap to T+1 Securities Settlement in the EU (HLRM), the EU T+1 Industry Committee has highlighted the wish to develop additional guidance to promote efficiency and standardisation across partial settlement, Standing Settlement Instructions (SSIs) and SFTs. These documents serve as addenda to the HLRM.

Taskforce on partial settlement market practice

The document outlines the conclusions of the EU T+1 Industry Committee’s Partial Settlement Task Force and proposes a common market practice to make partial settlement the default across European markets in preparation for the T+1 transition. It draws on T2S statistics, which show that settlement efficiency improves after each partial settlement window—though with natural limits—and on ESMA’s Final Report on the settlement discipline RTS, which discourages default non‑eligibility settings and supports broader use of partial functionalities.

The document also clarifies the responsibilities of participants, custodians, and CSDs, highlights ongoing and planned T2S enhancements supporting wider use of partial settlement and partial release, and encourages early adoption ahead of the October 2027 T+1 go‑live, supported by a structured monitoring framework.

Partial settlement Market Practice Report

Taskforce on SSI market practice

These documents reflect the final reports of the SSI Task Force delivered to the Committee. The documents have been agreed by the Committee and reflect a consensus of the Committee Associations.

Currently, the pass-on of client’s standing settlement instructions (SSIs) can be sub-standard due to manual processing and different data standards.

To address this, the TF has developed three market practices, also in collaboration with other recognised and established industry bodies. Links to these market practices, together with relevant supporting documentation, are below.

Taskforce on settlement optimisation for SFTs

To support industry participants in their adherence to recommendations on Securities Financing Transactions (SFTs) outlined in the HLRM, the Committee identified that the transition to T+1 presents significant risks and challenges in terms of intraday liquidity consumption and settlement efficiency. A taskforce on settlement optimisation for SFTs was thus formed to mitigate these risks ahead of implementation date.

The task force addressed solutions to this problem, including the introduction of gating events. The document below addresses proposed specifications of such a solution.

SFT Settlement optimisation Report

FX-specific considerations

The FX workstream within the EU T+1 Industry Committee has created a short summary highlighting FX-specific considerations for the transition.

It is expected that preparation to enable the successful migration to T+1 in jurisdictions that have already gone live, such as the US, will enable many firms to successfully implement T+1 in the EU. For those firms who are yet to commence their own preparation, these supplementary findings provide guidance, considerations and value-add to aid the journey to implementation – and to achieve a successful outcome for all.

FX supplementary findings

EU T+1 Governance

a. High-level Roadmap to T+1 Securities Settlement in the EU

b. EU T+1 Industry Committee meetings

c. EU T+1 Coordination Committee meetings

See ESMA webpage on Shortening the settlement cycle to T+1 in the EU under section ‘Coordination Committee meetings’

EU legislative and regulatory framework

See ESMA webpage on Shortening the settlement cycle to T+1 in the EU under section ‘Related Legislative and Regulatory Developments’

T+1 transitions in other European countries

UK: Find here “the UK Implementation Plan for first day of trading for T+1 settlement –11th October 2027” published by the UK AST
Switzerland: Find here “the Recommendations to the Shortening of the Settlement Cycle” published by the Swiss Securities Post-trade Council (swissSPTC)

EU T+1 INDUSTRY COMMITTEE