EUROPEAN UNION: Moving to T+2

Monday September 15 2014

The European Commission’s Clearing and Settlement Advisory and Monitoring Expert Group (CESAME 2 group) set up the Harmonisation of Settlement Cycles Working Group in 2009. The Working Group recommended T+2. This was implemented in the Regulations on improving securities settlement in the European Union on central securities depositories.

T+2 will harmonise securities settlement periods at a maximum of two business days after the trading day, (T+2) for certain securities transactions across the EU.
27 markets have confirmed 6 October 2014 as their migration date:

Austria
Belgium
Croatia
Czech Republic
Cyprus
Denmark
Finland
France
Hungary
Ireland
Italy
Luxembourg
Netherlands
Norway
Portugal
Sweden
Switzerland
UK

Spain equities are expected to change in Q4 2015.

Germany is already using T+2 for exchange activity.

Bulgaria and Slovenia already use T+2

Click here for Euro CCP

Click link above for further details.