Equity Settlement Cycles: Global Markets in transition
Over the past five years, 28 securities depositories servicing 46 exchanges have changed their cash equity settlement cycles. All but one (Iraq) have moved to shorter settlement periods, reflecting a global shift toward reducing settlement risk, accelerating access to capital, and improving market efficiency.
The momentum shows little sign of slowing. While T+2 remains the dominant cycle globally, the industry’s direction is clear. With many European markets expected to transition to T+1 in 2027, the world is approaching a tipping point where T+1 begins to challenge T+2 as the global standard.
At Swaps Monitor, we monitor settlement cycle changes across global markets, helping our customers prepare before change becomes impact.
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