Europe: Commission publishes securities settlement proposals

The European Commission has published legislative proposals for the reform of the securities settlement process. The harmonisation of the timing and conduct of securities settlement in Europe is proposed, including a maximum settlement period of two days after the trading day. The dematerialisation of most securities by 1 January 2010 is also proposed. For further information see: Commission press release | FAQs | Proposed Regulation (pdf) | Impact assessment: summary (pdf) and full text (pdf) |