The European Association of CCP Clearing Houses (EACH) issued a statement on the treatment of deliverable exchange traded derivatives (ETDs) under the planned European move to T+1 on 11 October 2027. It indicates that EU and UK central counterparties (CCPs) clearing deliverable ETDs intend to support aligning the exercise and assignment process for deliverable equity ETDs to T+1, while deliverable fixed income ETDs will continue to settle on T+2. The statement responds to market questions on whether physical delivery of the underlying security on exercise or expiry would also move to T+1 on a voluntary basis. EACH frames the intended approach as support for a Futures Industry Association (FIA) request to align deliverable equity ETD exercise and assignment to T+1. EACH expects individual CCPs to issue their own communications in due course to provide formal confirmation.
European Association of CCP Clearing Houses 2026-03-24
European Association of CCP Clearing Houses says EU and UK CCPs will support T+1 exercise and assignment for deliverable equity ETDs while fixed income ETDs remain T+2
The European Association of CCP Clearing Houses (EACH) announced support for aligning the exercise and assignment process for deliverable equity exchange traded derivatives (ETDs) to T+1, while deliverable fixed income ETDs will remain on T+2. This move aligns with the Futures Industry Association's request and addresses market queries about the voluntary shift to T+1 for physical delivery. EACH anticipates individual central counterparties will issue formal confirmations.