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 Best practices for T2S markets’ migration to T+2: proposals by the T2S Harmonisation Steering Group, 2 May 2014

View Proposals for best practices for moving to T+2, 2 May 2014