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Banque de France, AMF call for efficient transition to T+1 trade settlement cycle

( July 23, 2024, 09:05 GMT | Official Statement) -- MLex Summary: Banque de France and the Autorité des Marchés Financiers have called for a “well-coordinated and efficient” transition to a T+1 settlement cycle for securities transactions across the EU. This follows the European Commission's confirmation that the principle of T+1 has been accepted, according to a position paper released by the authorities setting out the best way to implement this reform. The statement urges strong coordination with other European institutions, as well as a two-step approach including the confirmation and allocation of all securities trades by the trade date followed by the reduction of the settlement cycle to T+1.Statement follows. The joint position paper is attached....

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