As of 11 October 2027, a new securities settlement model will be implemented in the EU. Under this new model, the settlement of securities transactions will be completed on the business day immediately following the trade date (T+1). The EU is undertaking this transition to enhance market efficiency, reduce systemic risk and ensure alignment with global standards.
Following 2025, which served as the preparatory year for establishing the transition framework, 2026 stands as a pivotal year dedicated to implementation ahead of the 2027 go-live.
To drive this structural, operational and organisational transformation of European financial markets, an EU T+1 Industry Committee was established. It includes industry stakeholders, with Euronext Group representatives acting as co-leads of key technical workstreams.
In summer 2025, the Committee laid the groundwork for industry readiness by issuing a high-level roadmap with recommendations to support the move to T+1.
Six months after the publication of the roadmap, the Committee took a further step toward ensuring a smooth and timely transition by publishing on 3 February 2026 the Outcome of the Industry Readiness Survey and the Handbook for Market Participants.
Industry readiness: current status and next steps
Three surveys are planned by the Industry Committee this year to assess industry readiness. The first, conducted at the end of 2025 and published on 3 February on the Committee's website, provides an initial overview of how stakeholders are engaging with T+1.
With over 1,000 respondents, the survey provides the clearest picture to date of industry readiness. It indicates strong industry awareness, with 77% of respondents actively involved in the T+1 transition, particularly across the European continent. Participation is increasing on both the buy-side and the sell-side.
While awareness is high, the results also highlight the need for concrete implementation by market participants, as T+1 successful delivery mainly depends on market participants efforts on automation.
It also revealed slower progress among certain market segments: asset managers, smaller firms, and non-EU firms. These developments will be tracked in 2026, which will be a pivotal year 2026 for planning, with 53% of implementation plans to be prepared this year.
Given these findings, and with the next survey set for the coming quarter, Giovanni Sabatini, Chair of the Committee, called on market participants to begin preparations for implementation and to closely monitor further developments, particularly the forthcoming release of the testing methodology at the end of March 2026.
You can read the full survey results via this link : EU T+1 Industry Committee Readiness Survey
Practical guidance from the Industry Committee
To provide further practical guidance on the way forward, the Committee published the T+1 Industry Handbook on the same day as the survey results.
This document is a reference point for T+1 stakeholders. It complements the high-level roadmap and translates it into concrete, operational guidance so that firms can implement the T+1 recommendations, based on practical examples and best practices in the industry.
It is structured by business area and details, task by task, what is affected, providing the key implementation factors for each. The practical examples given range from best practices to timetables outlining changes related to the T+1 settlement cycle.
To access the Handbook, please follow this link: EU T+1 Securities Settlement Handbook
Euronext’s commitment to a seamless T+1 Transition
Euronext is committed to actively contributing to the T+1 readiness of all stakeholders and to ensuring a smooth transition across the entire value chain.
The Group is proud to be a committed team player and industry leader in supporting T+1 in Europe, to have contributed to the industry committee’s work on industry readiness, and to be part of the testing task force which will publish its results in the first quarter of 2026.
You can find further information about T+1 on our dedicated webpage and in the published Euronext’s T+1 FAQ.
We encourage all clients to review their operational readiness, engage with our project teams and participate in upcoming testing activities.