Which Markets Settle on T+1: A Dated Reference for October 2026
Updated October 2026. First published February 2024.
This is a short reference: which markets settle cash equities on T+1 as of October 26, 2026, which have a date to move, and the public statement each fact comes from. It replaces the February 2024 version of this post, which discussed Europe's plans and Latin America's silence in general terms. Dates move, so each row gives the source and the date of its statement.
| Market | Cycle | Since or from | Source (date of statement) |
|---|---|---|---|
| United States | T+1 | May 28, 2024 | SEC adopting release for Rule 15c6-1(a) (February 15, 2023) |
| Canada | T+1 | May 2024 | FCA T+1 page (updated August 13, 2026); DTCC |
| Mexico | T+1 | May 2024 | FCA T+1 page (August 13, 2026); DTCC |
| Argentina | T+1 | May 2024 | FCA T+1 page (August 13, 2026) |
| India | T+1, phased in by liquidity | Completed in 2023 | U.K. Accelerated Settlement Taskforce report (March 2024); DTCC APAC page (2026) |
| Mainland China | T+0 / T+1 | Before the U.S. move | U.K. Taskforce report (March 2024); DTCC APAC page (2026) |
| United Kingdom | T+2 now | T+1 from October 11, 2027 | HM Treasury (February 19, 2025; draft regulations November 20, 2025) |
| European Union | T+2 now | T+1 from October 11, 2027 | Regulation (EU) 2025/2075 (October 8, 2025); ESMA (October 16, 2026) |
| Switzerland and Liechtenstein | T+2 now | T+1 from October 11, 2027 | SIX and the Swiss Securities Post-Trade Council (September 12, 2025) |
| Other Asia-Pacific markets | Under consideration | No dates set | DTCC APAC page (2026) |
How to Read the Table
The rows aren't all the same kind of rule. In the U.S., Rule 15c6-1(a) sets T+1 as the maximum for most broker-dealer trades and excludes government securities, municipal securities, and commercial paper, among others. Treasuries already settled T+1 by market practice, as the SEC noted when it adopted the rule. The EU rule covers trades in transferable securities executed on trading venues, with exemptions for documented securities financing transactions. The U.K. draft is built the same way. U.K. gilts already settle on T+1.
India moved in tranches. The U.K. Taskforce describes the approach: securities migrated to T+1 in groups ordered by liquidity, and the move finished before the Taskforce reported in March 2024. DTCC dates it to 2023. The same Taskforce report notes that India's regulator had consulted on optional T+0 and optional instant settlement.
China is the row where sources disagree on wording. The Taskforce report says in one place that China "already operates on a T+0 settlement cycle" and in another that China and India operate "in a T+0 / T+1 settlement environment." DTCC's page calls China's market "a T+1 structure." Check with your local custodian for the exact cycle on the instruments you trade.
In March 2024 the U.K. Taskforce put North America, China, and India together at over 55% of global equity markets, a figure it credited to SIFMA. DTCC's accelerated settlement page now estimates that 85% of global trades will settle on T+1 by 2028.
Related Posts
For the U.K. date and deadlines, see U.K. T+1 on October 11, 2027. For the EU and Swiss rules and the cost of the mismatch until then, see EU and Swiss T+1. For why the SEC stopped at T+1 instead of going to trade-date settlement, see our T+0 post.