New research from DTCC and ValueExchange has highlighted significant gaps in European post-trade automation as the industry prepares to move to T+1 settlement in October 2027. The report finds that settlement volumes across Europe increased by 15% in 2025, while failed trades rose by 21%, adding pressure to already fragmented operational processes. Only 33% of European middle offices have invested in automated standing settlement instruction (SSI) storage and exchange, while approximately 68% of firms still rely on some manual trade matching. Just 62% appear prepared for upcoming place of settlement (PSET) requirements.
With T+1 compressing settlement timelines by approximately 83%, the research calls for greater standardisation, automated instruction flows and more consistent trade data across middle- and back-office systems. DTCC argues that existing matching infrastructure and reference data utilities provide a foundation for improving settlement efficiency, reducing exceptions and strengthening operational resilience ahead of the transition.
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