French financial regulator The Autorité des Marchés Financiers (AMF) and the Banque de France have issued a call for a well-coordinated and efficient transition to a T+1 settlement cycle for transactions on securities across the EU. This initiative comes at a time when the European Commission has confirmed that the principle of T+1 has been accepted. This shift brings substantial challenges, in particular due to EU market specificities that must be managed smoothly and requires a careful calibration of the timeline.
The AMF and the Banque de France notably stress the significance of cooperating closely in particular with the UK and Switzerland, given the interdependencies between EU and these markets.
Both the USA and Canada moved to T+1 settlement earlier this year.
The AMF…
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