‘When, not if’: EU plots course for T+1 transition
Not everyone saw eye to eye at a European Commission roundtable discussing how to shorten settlement cycles, but most participants recognized the need to make the transition to T+1.
If there was ever any doubt that the EU would follow North America’s lead on shortening settlement cycles, it has been put to bed for good. A roundtable held by the European Commission last Thursday saw widespread agreement from industry associations, market participants, and authorities that Europe must move to T+1—and sooner rather than later.
Mairead McGuinness, the EU commissioner responsible for financial services, set the tone in the opening speech, telling attendees, “I think we all know a
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