Read the CySEC Circular C741
Memo #64-2025
CySEC Circular No: C741
Date: 18/12/2025
Subject: Shortening of the standard securities settlement cycle in the European Union (T+1)
Purpose: To draw the attention of Regulated Entities to recent developments in relation to Regulation (EU) 2025/2075.
In Summary:
CySEC has issued the Circular C741 on 12/12/2025 to draw the attention of the Cyprus Investment Firms, UCITS and, where relevant, their Management Companies, Alternative Investment Funds (‘AIFs’) established or managed in Cyprus and where relevant, their Alternative Investment Fund Managers (‘AIFMs’), Trading Venues and the Central Securities Depositories, to recent developments in relation to the shortening of the standard securities settlement cycle in the European Union (EU).
In accordance with the Circular C741, the Regulation (EU) 2025/2075 is amending the Regulation (EU) No 909/2014 as regards a shorter settlement cycle in the European Union.
The Circular C741 provides an analysis of the main changes of the Regulatory Framework.
The CySEC informs that the EU T+1 Industry Committee has launched a survey to assess the level of preparedness of market participants and identify potential operational, technological, or procedural challenges associated with the migration to a T+1 settlement cycle. The CySEC notes that Regulated entities are strongly encouraged to participate in the EU T+1 Industry Committee's first readiness survey, which will be open until 19/12/2025.
The CySEC notes that Regulated Entities are urged to begin reviewing the potential impact of the transition to T+1 on their internal systems, operational processes, liquidity and treasury management, client onboarding procedures, and cross-border arrangements.
The Regulation (EU) 2025/2075 can be found on the following link: https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=OJ:L_202502075
The EU T+1 Industry Committee's first readiness survey can be found on the following https://survey.thevalueexchange.co/s3/25EUICT1-PwC
Read the CySEC Circular C741
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