ESMA completes T+1 rulebook, sets 7 December 2026 as first compliance deadline
ESMA has published the final piece of the regulatory framework for the EU's move to T+1 securities settlement, confirming an 11 October 2027 switchover. The briefing matters because the first binding obligation arrives sooner, on 7 December 2026, when investment firms and their clients must meet new allocation and confirmation requirements. This covers what is now fixed and what firms must do next.
- The EU will switch to T+1 settlement on 11 October 2027, with the regulatory framework now complete.
- From 7 December 2026, investment firms and their clients must comply with new allocation and confirmation requirements.
- Those requirements mandate electronic, standardised communication channels, international messaging standards and machine-readable methods, except during temporary technical disruptions.
- ESMA has published the RTS and revised Guidelines on standardised procedures and messaging protocols, and published a final report under reference ESMA74-2119945926-3749.