SIX and the Swiss Securities Post-Trade Council (swissSPTC) said Friday that they are working together to prepare Switzerland and Liechtenstein for the move to a T+1 settlement cycle on 11 October 2027, aligning with the European Union and the United Kingdom.
SIX and swissSPTC Set Roadmap for T+1 Settlement Shift in Switzerland and Liechtenstein
The swissSPTC on Friday published recommendations for a smooth transition from the current T+2 cycle, reflecting a wider global shift to faster settlement.
North America adopted T+1 in 2024, and Switzerland and Liechtenstein see the change as crucial to maintaining competitiveness, reducing counterparty risk and bolstering market stability.
SIX said more than 20 organisations from across the financial ecosystem contributed to the swissSPTC’s analysis, including trading venues, clearing and settlement providers, banks, issuers and industry associations. Authorities were kept closely involved throughout.
The recommendations, developed by a dedicated T+1 Task Force, are structured across six workstreams covering operational processes, international alignment, liquidity management, legal and regulatory considerations, insights from North America and stakeholder communication.
The swissSPTC said the recommendations are intended to be living guidance and could be adapted if market or regulatory conditions change before implementation.
SIX, which operates the domestic market infrastructure, is incorporating the council’s requirements into its own T+1 project. The framework will apply to all transferable securities traded on Swiss venues and settled through SIX SIS, the Swiss central securities depository.
SIX added that a consultation on the T+1 transition is open until 10 October, with swissSPTC and SIX set to present their plans at an industry event in Zurich on 23 September.
