13/10/2025 (Agence Europe) – On Monday 13 October, the European Securities and Markets Authority (ESMA) published its proposed amendments to a European Commission technical delegated act relating to the Central Securities Depositories Regulation (‘CSDR’) (see EUROPE 13716/35). These changes are intended to improve the efficiency of trade settlement across the EU and prepare for the transition to a shorter settlement cycle (‘T+1’) in October 2027 (see EUROPE 13714/32). In particular, they provide for same-day instructions to be sent for the settlement of transactions, the use of standardised digital formats and the introduction of new technical functions to make transactions more fluid. A gradual timetable for implementation between December 2026 and October 2027 is planned to facilitate the adaptation of the sector. The Commission now has three months to examine these proposals. See ESMA’s proposed regulatory technical standards (RTS): https://aeur.eu/f/ixc (BD)