Recommendations for T+1 Settlement Cycle in Switzerland and Liechtenstein

This final report outlines the recommendations from the Swiss Securities Post-Trade Council (swissSPTC) regarding the transition to a T+1 settlement cycle in Switzerland and Liechtenstein, set to occur on 11 October 2027. The report is the result of extensive analysis conducted by the T+1 Task Force, which involved over twenty institutions from various sectors, including trading, clearing, and settlement. The initiative aims to align with the European Union and the United Kingdom to avoid operational fragmentation and inefficiencies in cross-border financial transactions. The report details the operational adaptations required for this transition, including harmonized timelines for trading, clearing, and settlement, as well as the introduction of partial settlement as the default practice. It emphasizes the importance of cooperation among stakeholders and the need for continuous dialogue to ensure a smooth migration. The recommendations serve as a foundation for the transition, aiming to enhance market stability and maintain global competitiveness.