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.

Executive summary

ESMA has announced that the European Union will move to T+1 settlement on 11 October 2027 and has declared its regulatory framework for the transition complete. The completion is marked by the publication of the RTS and ESMA Guidelines on…

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