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 Industry Committee checklist

The EU T+1 Industry Committee’s checklist is a practical tool market participants can reference internally while preparing for the transition to a T+1 securities settlement cycle. It translates the EU T+1 High‑Level Road Map recommendations and associated technical work into actionable considerations across the trade lifecycle. Firms applying the checklist should do so within the context of their specific operating model, activities, and market arrangements.

EU T+1 Checklist

Testing Plan

The T+1 Testing Plan is a joint initiative and publication from the EU T+1 Industry Committee, UK Accelerated Settlement Taskforce and Swiss Securities Post-Trade Council to outline a collective industry framework around testing for T+1 settlement.

The report focuses on testing logistics and timelines, different testing touchpoints and scenarios and encourages firms of all sizes to undertake an analysis of their own metrics with a view to de-risking the transition.

T+1 Testing Plan

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.

Second iteration of the document – released in June 2026 – incorporates updated and new content, with amendments marked in the document for ease of reference.

EU T+1 Securities Settlement Handbook

T+1 – Corporate Events Harmonised Implementation Guide

The T+1 – Corporate Events Harmonised Implementation Guide by AMI-SeCo provides detailed guidance on the implementation of the changes to corporate events processing to facilitate harmonised implementation by market stakeholders in AMI-SeCo markets. It complements the information on corporate events included in the High-Level Roadmap.

T+1 – Corporate Events Harmonised Implementation Guide (link is to the document on the ECB website)

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.

The EU T+1 Industry Committee has published additional guidance to its Standing Settlement Instruction (SSI) market practices. The guidance provides further clarity on SSI standards relating to the storage and exchange of SSIs between trading parties and/or their appointed intermediaries.

A core element of the clarification is that there is a common European standard: The Financial Markets Standards Board (FMSB) taxonomies and templates for sharing SSIs are compatible with the European Economic Area’s (EEA) requirements for pre-settlement storage and exchange requirements of SSI data (as previously advised in the EU T+1 SSI Taskforce’s December 2025 guidance). This signifies alignment with the UK Accelerated Settlement Taskforce (AST), which recommended the same approach.

Additional Guidance: Standards for the storage and exchange of SSIs: alignment between the EU and the UK

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

The final Taskforce report, published in December 2025, acknowledges the need for additional market practice/guidance on the Gating Event to ensure consistent/appropriate usage. The report also notes a few other open questions which require further discussions, including the CCP approach towards the Gating Event and the technical details around the Gating Event indicator and related reporting.

Based on further work by the relevant stakeholders in H1 2026, which has been coordinated through the SFT TWS, the SFT Settlement Optimisation TF, as well as the Industry Committee itself, a detailed additional guidance document on the Gating Event has been prepared and published on 22 June. The Gating Event guidance was published as a separate document, complementing the second iteration of the Implementation Handbook.

The Gating event guidance includes an FAQ section that explains the Gating Event and its key specifications. The FAQ section also explains progress on the two open questions noted above regarding CCPs (see Q9), as well as the technical details of the Gating Event indicator (see questions 4, 5 and 7).

In addition, the document sets out clear best practices for market participants in terms of using the Gating Event, including an explanation and illustration of use cases for which the Gating Event has been designed and can be used, as well as scenarios for which the Gating Event should not be used as it may cause unnecessary settlement delays.

Gating Event – FAQs and Best Practice

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