Settlement cycles

T+1 and T+2 settlement by market

The standard cash-equity settlement cycle for 29 stock markets, any change already scheduled, how certain it is, and the rule behind it. The same table is in the API at /v1/settlement-cycles.

Market	MIC	Today	Scheduled change	Rule
Australian Securities Exchange	`XASX`	T+2	—	ASX CHESS T+2
B3 (Brasil Bolsa Balcao)	`BVMF`	T+2	—	B3 equities T+2
Bolsa de Madrid	`XMAD`	T+2	T+1 from 2027-10-11 confirmed in law	CSDR Art. 5(2) (T+2) Change: Regulation (EU) 2025/2075 amending CSDR Art. 5(2): T+1 applies from 11 Oct 2027
Bolsa Mexicana de Valores	`XMEX`	T+1	—	Mexican market move to T+1 (aligned with US/Canada)
BSE (Bombay Stock Exchange)	`XBOM`	T+1	—	SEBI T+1 rolling settlement (fully phased in 27 Jan 2023)
Euronext Amsterdam	`XAMS`	T+2	T+1 from 2027-10-11 confirmed in law	CSDR Art. 5(2) (T+2) Change: Regulation (EU) 2025/2075 amending CSDR Art. 5(2): T+1 applies from 11 Oct 2027
Euronext Brussels	`XBRU`	T+2	T+1 from 2027-10-11 confirmed in law	CSDR Art. 5(2) (T+2) Change: Regulation (EU) 2025/2075 amending CSDR Art. 5(2): T+1 applies from 11 Oct 2027
Euronext Dublin	`XDUB`	T+2	T+1 from 2027-10-11 confirmed in law	CSDR Art. 5(2) (T+2) Change: Regulation (EU) 2025/2075 amending CSDR Art. 5(2): T+1 applies from 11 Oct 2027
Euronext Lisbon	`XLIS`	T+2	T+1 from 2027-10-11 confirmed in law	CSDR Art. 5(2) (T+2) Change: Regulation (EU) 2025/2075 amending CSDR Art. 5(2): T+1 applies from 11 Oct 2027
Euronext Milan (Borsa Italiana)	`XMIL`	T+2	T+1 from 2027-10-11 confirmed in law	CSDR Art. 5(2) (T+2) Change: Regulation (EU) 2025/2075 amending CSDR Art. 5(2): T+1 applies from 11 Oct 2027
Euronext Oslo	`XOSL`	T+2	T+1 from 2027-10-11 announced, not final	CSDR via EEA Agreement (T+2) Change: EU T+1 (Reg. 2025/2075) expected to apply in Norway via EEA incorporation; Norwegian implementation not yet final
Euronext Paris	`XPAR`	T+2	T+1 from 2027-10-11 confirmed in law	CSDR Art. 5(2) (T+2) Change: Regulation (EU) 2025/2075 amending CSDR Art. 5(2): T+1 applies from 11 Oct 2027
Hong Kong Exchanges (HKEX)	`XHKG`	T+2	—	HKEX CCASS T+2
Johannesburg Stock Exchange	`XJSE`	T+3	—	JSE equities T+3
Korea Exchange	`XKRX`	T+2	—	KRX equities T+2
London Stock Exchange	`XLON`	T+2	T+1 from 2027-10-11 announced, not final	UK CSDR Art. 5(2) (T+2) Change: HM Treasury: UK T+1 from 11 Oct 2027; draft Central Securities Depositories (Amendment) (Intended Settlement Date) Regulations 2026 published Nov 2025, not yet made (checked 2026-10-24)
Nasdaq Copenhagen	`XCSE`	T+2	T+1 from 2027-10-11 confirmed in law	CSDR Art. 5(2) (T+2) Change: Regulation (EU) 2025/2075 amending CSDR Art. 5(2): T+1 applies from 11 Oct 2027
Nasdaq Helsinki	`XHEL`	T+2	T+1 from 2027-10-11 confirmed in law	CSDR Art. 5(2) (T+2) Change: Regulation (EU) 2025/2075 amending CSDR Art. 5(2): T+1 applies from 11 Oct 2027
Nasdaq Stock Market	`XNAS`	T+1	—	SEC Rule 15c6-1 amendments (T+1)
Nasdaq Stockholm	`XSTO`	T+2	T+1 from 2027-10-11 confirmed in law	CSDR Art. 5(2) (T+2) Change: Regulation (EU) 2025/2075 amending CSDR Art. 5(2): T+1 applies from 11 Oct 2027
New York Stock Exchange	`XNYS`	T+1	—	SEC Rule 15c6-1 amendments (T+1)
NZX	`XNZE`	T+2	—	NZX T+2
Shanghai Stock Exchange	`XSHG`	T+1	—	SSE A-shares: securities T+0, cash T+1 (modelled as T+1)
Singapore Exchange	`XSES`	T+2	—	SGX equities T+2
SIX Swiss Exchange	`XSWX`	T+2	T+1 from 2027-10-11 announced, not final	SIX Swiss Exchange rule book (T+2) Change: swissSPTC recommendation (acknowledged by SIF) for T+1 from 11 Oct 2027; SIX rule-book change pending
Tokyo Stock Exchange (JPX)	`XTKS`	T+2	—	JPX cash equities T+2 (since 16 Jul 2019)
Toronto Stock Exchange	`XTSE`	T+1	—	CSA NI 24-101 amendments (T+1)
Wiener Boerse	`XWBO`	T+2	T+1 from 2027-10-11 confirmed in law	CSDR Art. 5(2) (T+2) Change: Regulation (EU) 2025/2075 amending CSDR Art. 5(2): T+1 applies from 11 Oct 2027
Xetra (Deutsche Boerse)	`XETR`	T+2	T+1 from 2027-10-11 confirmed in law	CSDR Art. 5(2) (T+2) Change: Regulation (EU) 2025/2075 amending CSDR Art. 5(2): T+1 applies from 11 Oct 2027

Status: in effect in force, confirmed in law adopted in law, announced, not final announced but not yet final. Checked 2026-11-06. Confirm critical dates with your broker or CSD.

Common questions

Is the UK on T+1?

London Stock Exchange settles T+2 today (UK CSDR Art. 5(2) (T+2)), moving to T+1 from 2027-10-11 announced, not final. Details on the 2027 switch.

Is Canada on T+1?

Toronto Stock Exchange settles T+1 today (CSA NI 24-101 amendments (T+1)).

Is Australia (ASX) on T+1?

Australian Securities Exchange settles T+2 today (ASX CHESS T+2).

Is India on T+1?

BSE (Bombay Stock Exchange) settles T+1 today (SEBI T+1 rolling settlement (fully phased in 27 Jan 2023)).

Is Europe on T+1?

Xetra (Deutsche Boerse) settles T+2 today (CSDR Art. 5(2) (T+2)), moving to T+1 from 2027-10-11 confirmed in law. The same date applies across EU venues.

Settlement dates, not just cycles

A cycle counts business days, and a business day needs both the exchange and the currency's payment system open (for US stocks, NYSE and the Federal Reserve). See the settlement date calculator and Friday and pre-holiday examples.

curl "https://settledate.dev/v1/settlement-cycles?market=XLON"

curl "https://settledate.dev/v1/settlement-date?market=XLON&trade_date=2027-10-08"