Having witnessed the move to T+1 in the North American markets during the week commencing 27th May 2024 and the relatively smooth transition within the region, this paper is to focus on the viewpoint within European markets and the different approaches with regard to corporate actions processing. These different approaches considered the specificities of each market and could cater for the different needs of clients.

The Associations that provided the information in this paper, AFME, ECSDA and FESE, have done so on a best-effort basis and will continue to support the work and the analysis in the EU Industry T+1 Task Force to provide recommendations of how Europe might eventually transition to a T+1 settlement cycle, and for any potential harmonisation initiatives in the four scenarios listed.

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Source: FESE

Jesús Benito, Securities Services at SIX, said in an email: “This transition to T+1 in North America is not just a technical adjustment, it fundamentally alters the landscape for corporate actions processing. For financial institutions emersed in cross-border trading, this change introduces complexities that could affect everything from dividend entitlements to voting rights. As the industry continues to navigate this new landscape, collaboration with market participants will be crucial in minimise disruption and ensuring a smooth experience for all stakeholders.”