Recommendations for T+1 Settlement Cycle in Switzerland and Liechtenstein

This document is a technical report outlining the recommendations from the Swiss Securities Post-Trade Council (swissSPTC) regarding the transition to a T+1 settlement cycle in Switzerland and Liechtenstein, scheduled for 11 October 2027. The swissSPTC has formed a dedicated T+1 Task Force to guide this national initiative, which involves over twenty institutions from various sectors including trading, clearing, and settlement. The report details the operational adaptations necessary for this transition, including harmonized processing timelines and increased automation. It emphasizes the importance of aligning with EU and UK standards to avoid operational fragmentation and inefficiencies. The recommendations cover all transferable securities executed on Swiss regulated trading venues and settled within the Swiss central securities depository. Key operational changes are proposed to enhance liquidity management and ensure readiness for the new settlement cycle. The document reflects a collaborative effort to establish best practices and maintain the competitiveness and resilience of the financial markets in Switzerland and Liechtenstein.