ECB Executive Board Member Piero Cipollone says Europe will transition to T+1 settlement by October 2027, reducing trade-to-payment time from two to one day
ECB Executive Board Member Piero Cipollone stated that Europe will move to T+1 securities settlement on October 11, 2027, reducing the settlement cycle from two days to one. The transition is part of a broader modernization effort to make Europe's financial infrastructure more efficient, resilient, and competitive. It will force standardization and automation of post-trade processes and align Europe with other major markets shortening their own settlement cycles.
The transition to T+1 settlement represents a major structural change to Europe's financial infrastructure, directly impacting market efficiency, risk management, and cross-border capital flows, making it a key development for those tracking European financial market modernization.
Source: European Central Bank News · ecb.europa.eu