What does T+1 mean for you?

See how T+1 preparation practically differs across segments as Europe enters the final year before the 2027 transition.

In Partnership with

The countdown to Europe’s T+1 settlement transition has officially reached its final year.

The shift to T+1 settlement in Europe is more than just a change in the calendar – it is a fundamental evolution of the post-trade operating model. With critical requirements arriving as early as December 2026, firms across the market are now working through the practical implications of compressed settlement timelines.

Electronic allocation

Private banks

The automation imperative drives readiness.

Private banks show a clear automation gap ahead of the earlier T+1 requirements, with manual allocation processes still creating operational pressure.

Ecosystem dependency

Securities lending

No single participant can achieve T+1 compliance in isolation.

Compressed settlement timelines increase reliance on counterparties, particularly around recalls, returns and inventory management.

Formal readiness

Global custodians

83% of organizations already have a formal implementation plan established.

This provides strong foundations for clients relying on the sector to bridge time zones and provide FX solutions.

Custodians are among the more advanced areas of the market, with preparation focused on client readiness, time zones, FX and settlement workflows.

Our latest T+1 research with BNP Paribas employs a dual-lens approach, combining quantitative findings from the EU T+1 Industry Committee’s Q2 2026 Readiness Survey with qualitative interviews with senior operations leaders.

The result is a practical guide that examines the specific operational impacts of T+1 on: