Norway's FSA tells market to start T+1 testing ahead of EU 2027 shift
Finanstilsynet is pressing Norwegian securities market participants to begin testing systems now for the EU's move to T+1 settlement, even though the underlying EU regulation has not yet been incorporated into Norwegian law. The notice sets out phased deadlines and points firms to EU industry roadmaps and ESMA guidance.
- The EU will shorten the standard settlement cycle to T+1 with effect from 11 October 2027.
- The European Commission's amendments to the settlement discipline regulation (EU) 2018/1229 were published 14 October 2026, with key allocation and confirmation communication requirements applying from 7 December 2026.
- Finanstilsynet expects Norwegian firms to prepare on the same timeline as EU market participants even though the changes are not yet part of Norwegian law.
- ESMA has updated its guidelines on allocation and confirmation procedures, which Finanstilsynet will apply in its supervision from the EU implementation date.
- Firms seeking testing information can contact test leader Pål Albert Lindkjølen at Norges Bank.