Switzerland and Liechtenstein will move to a T+1 settlement cycle on 11 October 2027, in coordination with the EU and UK and in support of the key objective of a joint migration. „The move follows North America’s adoption of T+1 in 2024 and reflects a global shift toward faster settlement, which aim to reduce counterparty risk, enhance liquidity, and strengthen market stability.” – the company said.
As part of the preparations for the 11 October 2027 migration to the T+1 settlement cycle in Europe, the Swiss Securities Post-Trade Council (swissSPTC) has published its recommendations for the Swiss and Liechtenstein markets to ensure a successful adoption of the new market standard. SIX, as primary Financial Market Infrastructure (FMI), is participating in the specialized Task Force and will integrate the swissSPTC’s requirements in its own project.
The recommendations are the result of an extensive analysis carried out in 2025 with the participation of more than 20 entities from the Swiss and Liechtenstein financial ecosystem. The swissSPTC, through its dedicated T+1 Task Force, has undertaken a national initiative to guide the financial markets of Switzerland and Liechtenstein through the transition from the current T+2 settlement cycle to a new T+1 standard.
The proposal framework covers all transferable securities executed on Swiss trading venues and settled within the Swiss central securities depository (CSD), SIX SIS.
To assist the industry in preparing for the transition, the swissSPTC has initiated a market consultation on T+1, open until 10 October 2025. Additionally, SwissSPTC will present its recommendations, implementation plans, and timeline at an event hosted by SIX on 23 September 2025.
SIX continues to actively adapt its services to the new standard, leading specialized working groups both in Spain and Switzerland, and participating in international initiatives. These efforts represent a key milestone in the transition process to T+1 in the European Union, Switzerland, Liechtenstein, and the United Kingdom.
Further information, such as the contribution of SIX or developments in important markets, is available on the T+1 information platform of SIX.
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SIX serves the Swiss and Spanish financial centers and a broad international client base, offering stable and efficient infrastructure services. SIX operates stock exchanges and provides services in post trading, financial information as well as the payments business. The company is owned by its users (about 120 financial institutions). With over 4,400 employees and a presence in 19 countries, SIX generated operating income of CHF 1.6 billion and EBITDA of CHF 443.7 million in 2024.
The Swiss Securities Post-Trade Council (swissSPTC) is an independent market committee representing banks, issuers, SwissHoldings, and the Swiss financial market infrastructure, including SIX. Acting on behalf of the Swiss and Liechtenstein financial community, the swissSPTC addresses key post-trade topics and provides a trusted forum for market dialogue.
Banking 4.0 – „how was the experience for you”
„To be honest I think that Sinaia, your conference, is much better then Davos.”
Many more interesting quotes in the video below:
