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Documents related to securities registration and maintenance.
Holiday calendar & working hours in the Baltics and Iceland.
Transparency is the key to being trusted. Find the related documents regarding the rules, regulations and compliance of Nasdaq CSD’s operations.
Accelerated settlement will affect markets in different ways. Local practices, sub-custody arrangements, cut-off times, and domestic workflows vary across jurisdictions – and timelines become tighter with T+1.
For this reason, Nasdaq CSD’s preparations focus on challenges specific to the Baltic and Icelandic markets, tailoring readiness efforts to participants’ needs and local conditions.
Like other European market infrastructures, Nasdaq CSD is adjusting its operations for a shorter settlement cycle.
We are committed to supporting our participants and markets to ensure a seamless transition.
The EU T+1 Industry Committee plays a central role in guiding the transition to a shortened settlement cycle.
The EU T+1 High Level Roadmap, published in summer 2025, includes 58 recommendations to support market participants in their analysis and planning for T+1. The recommendations were developed by stakeholders across the financial sector. They are not legally binding, but are strongly recommended.
ESMA’s RTS on settlement discipline reflects certain recommendations (for example, on allocations and confirmations, and on CSD functionalities). These recommendations are therefore likely to become enforceable regulatory requirements.
While the final RTS has not yet been published, ESMA’s report on amendments to the RTS on Settlement Discipline, published in October 2025, provides detailed information.
The EU, UK and Switzerland have published a joint Testing and Readiness Plan for the move to T+1 settlement, setting out how market participants should prepare for the October 2027 transition.
More information is available on the committee’s website:
https://eu-t1.eu/, including a dedicated Q&A section.
Nasdaq CSD will provide further information to its participants, including details on key changes and testing plans.
All information will be published in the Participants’ Secure Portal.
