As part of the preparations for the Migration on October 11, 2027 to the T+1 Settlement in Europe, the Swiss Securities Post-Trade Council (SWISSSPTC) today published its recommendations for Swiss markets and Liechtenstein to ensure the successful adoption of the new model.
Six, as a Primary Financial Market Infrastructure (FMI), participates in the specialized working group and will incorporate SWISSSPTC’s requirements into its own work.
Switzerland and Liechtenstein will move to a T+1 cycle on October 11, 2027, coordinated with the EU and the United Kingdom and to support the main purpose of a common migration. The movement follows the adoption of T+1 by North America in 2024 and reflects a global shift towards faster settlement, which aims to reduce the risk of the counterparty, enhancing liquidity and enhancing market stability. competitiveness and durability.
The recommendations are the result of an extensive analysis made in 2025 with the participation of more than 20 entities from the Economic Ecosystem of Switzerland and Liechtenstein. The SwisSptC, through the dedicated T+1 team, has taken a national initiative to guide Switzerland and Liechtenstein through the transition from the current T+2 settlement cycle to a new T+1 standard.
This strategic change follows months of strict analysis between the financial sectors that include top institutions from infrastructure, trading, clearance and settlement surfaces, banks, publishers and industrial associations. Throughout the process, regulatory and supervisory authorities have been closely informed.
SWISSSPTC’s work has been structured around six special work, facing operational processes, international alignment, liquidity management, legal and regulatory estimates, lessons from the North American transition and communication of interested parties. This organizational design allowed both vertical deep waterfalls in specific technical areas and horizontal validations in all work, creating a holistic and coordinated transition route map.
The approach remains adaptive. Recommendations are intended to be guidance for the living to be reviewed if market conditions or regulatory requirements change significantly before the date of application. Parallel efforts six, the domestic provider of the market infrastructure, are closely aligned with these recommendations.
The proposal framework covers all the transferable mobile values performed in Swiss trade areas and settled in the SWISS Central Securities STateitory (CSD), six SIS.
To help the industry prepare for the transition, SWISSSPTC has launched a market consultation on T+1, open until October 10, 2025. In addition, SWISSSPTC will present recommendations, implementation plans and timetable at an event hosted on September 23.