The change means that trades in shares, bonds and exchange‑traded funds must be completed the day after they are made. Today, settlement usually takes two days. Market participants now face a wide range of system upgrades and new routines to meet the tighter deadline.
One major challenge is managing foreign exchange transactions, which often require processing across multiple time zones. Firms must also prepare for new requirements under the European Union’s Digital Operational Resilience Act, a regulation that sets rules for how financial companies handle operational risks and cybersecurity.
“The move to T+1 is a structural change for the entire industry”, says Ann Magnusson, head of Investor Services at SEB. “It demands coordinated system changes and clear communication with clients, especially for cross‑border transactions.”
For investors, the main advantages are faster access to cash after selling a security and lower risk, since the time between entering a trade and completing it is shorter. Clearinghouses in some markets may also reduce the collateral investors must set aside.
The Nordic region is particularly exposed to the change because many households hold investments. In Sweden, a large share of the population saves in funds, shares or pension products, which increases the focus on operational resilience and cybersecurity as markets become more digital.
Magnusson expects the coming 12 months to be decisive. “In 2026, firms will need to focus on execution – preparing for new rules, securing operations and supporting clients through the transition”, she says.
SEB is collaborating with regulators, authorities, and industry groups on the shift. A key priority is ensuring that the migration to T+1 does not disrupt processes that already function well. Market engagement from both corporate and institutional clients will be essential as the deadline approaches.