The Swiss Securities Post-Trade Council (swissSPTC) recommended to move to T+1 in October 2027 for the domestic markets in Switzerland and Liechtenstein. It is assumed that the EU and UK will adopt the same migration date as a combined migration of CH/FL, EU and UK.
SIX also acknowledges this recommendation and will commence the process of seeking approval to adjust the Rule Book of SIX Swiss Exchange to accommodate the change of the settlement cycle at the appropriate time.
In the event of a delay in one jurisdiction, domestic markets will seek to align their timeline with the “first mover”, provided the migration occurs no earlier than October 2027. This approach ensures consistency with the agreed schedule while accommodating any necessary adjustments. The recommendation is acknowledged by the Swiss State Secretariat for International Finance (SIF).
The swissSPTC Task Force T+1 will now commence detailed assessments on specific proposals and produce recommendations for the transition. It is further recommended that Swiss and Liechtenstein market participants continue to drive forward their internal planning to adopt a shorter settlement cycle and ensure their preparedness for an effective migration.