Dear Clearing Member,
Based on a decision of the European Union, the European securities markets – in coordination with the United Kingdom and Switzerland – will transition from the current T+2 settlement cycle to a T+1 cycle as of 11 October 2027.
The objective of this transition is to enhance the stability of financial markets, reduce market and settlement risks, strengthen international harmonisation, and increase operational efficiency. At the same time, the shorter settlement cycle requires significant operational, liquidity, and technological adjustments from market participants.
KELER CCP, as the central counterparty clearing house of the Hungarian capital market, is committed to the continuous development of market infrastructure and alignment with international standards. We view the T+1 transition not only as a regulatory requirement but also as an opportunity for development and innovation.
Within this framework, we are examining the possibility of technological renewal of clearing reports (exchange statements, notifications), with particular focus on the potential application of SWIFT ISO 20022 MX messages within the ‘secl’ domain.
The purpose of this short survey is to assess whether there is demand among Clearing Members for the development of electronic clearing reports and, if so, in which direction.
We kindly ask for your cooperation in supporting our joint preparation through your responses.