Bulgaria's Financial Supervision Commission provided an update from the third meeting of the National Forum on the Transition to T+1, where Chairman Vasil Golemanski called for coordinated marketwide preparation and testing ahead of the European Union's move to a shorter settlement cycle. Market participants are expected to complete the main analysis, solution development and implementation work by the end of 2026, in line with European Securities and Markets Authority recommendations. Preparations focus on testing transaction processing times, data exchange, discrepancy handling and interaction among systems and institutions. Participants also reviewed partial settlement, corporate events, mandatory European requirements and necessary changes to Bulgaria's regulatory framework. Golemanski emphasized that firms must test the full process collectively, from transaction processing and confirmation through settlement and exception management. The forum's next official meeting is scheduled for November 2026.
Bulgaria's Financial Supervision Commission outlines end-2026 preparation priorities for EU T+1 transition
Bulgaria's Financial Supervision Commission called for coordinated marketwide preparation and testing for the EU's transition to T+1 settlement. Participants are expected to complete the main analysis, solution development and implementation work by the end of 2026, with end-to-end testing covering transaction processing, settlement and discrepancy management.