A large number of TARGET2-Securities (T2S) markets will be migrating to the T+2 settlement cycle on 6 October 2014. The simultaneous change of the settlement cycle of a large number of markets is without precedent and to assist in a coherent migration the T2S Harmonisation Steering Group (HSG) has published proposals for best practices for T2S markets’ migration to T+2.
The proposals are set out under three headings covering:
- scope of the T+2 settlement cycle;
- migration; and
- interim measures until level 2 of the CSD Regulation is in place.
The proposals also contain four annexes covering:
- the CSD Regulation settlement cycle rule;
- scope of financial instruments;
- summary of the HSG best practice proposals;
- members of the HSG task force on T+2.
View Proposals for best practices for moving to T+2, 2 May 2014