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Securities settlement in the EU and central securities depositories (CSDs): shorter settlement cycle in the Union

Document TA-10-2025-0179 · P10_TA(2025)0179 · PE770.091

Kind
Adopted text TA-10-2025-0179
Date
10 September 2025
Dossier
2025/0022(COD)
More facts (3)
Voted
  • 10 Sept 2025 (adopted text) Passed 612 for, 7 against, 45 abstained
Formats
Official page PDF Word
Subject matter
PECO, FIN
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Cite this page Official page (opens the official site)
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In short

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AI: In short Written by AI from the official text — check the source · deepseek-v4-flash · 4 Sept 2026

Parliament's amended version of the proposed regulation shortens the securities settlement cycle in the EU to one business day after the trading date, with certain exceptions. It introduces penalties for failed settlements and requires central securities depositories to offer cash settlement services.

Key points

  1. The settlement cycle is reduced to one business day after the trading date for most securities transactions.
  2. Exceptions to the shorter cycle are allowed for certain types of transactions, such as those involving small and medium-sized enterprises.
  3. Penalties for failed settlements are harmonised across the EU, with a minimum amount and a daily charge.
  4. Central securities depositories must offer cash settlement services to support the shorter cycle.
  5. The regulation sets out requirements for the timing of confirmation of trades and the allocation of securities.

Who is affected

  • Central securities depositories in the EU, which must adapt their systems and services.
  • Investment firms and market participants that execute securities transactions.
  • Small and medium-sized enterprises, whose transactions may be exempt from the shorter cycle.

Figures and deadlines

  • One business day after the trading date

Legal basis. Article 114 of the Treaty on the Functioning of the European Union

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Text

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Committee on Economic and Monetary Affairs

European Parliament legislative resolution of 10 September 2025 on the proposal for a regulation of the European Parliament and of the Council amending Regulation (EU) No 909/2014 as regards a shorter settlement cycle in the Union (COM(2025)0038 – C10-0011/2025 – 2025/0022(COD))

(Ordinary legislative procedure: first reading)

The European Parliament,

–having regard to the Commission proposal to Parliament and the Council (COM(2025)0038),

–having regard to Article 294(2) and Article 114 of the Treaty on the Functioning of the European Union, pursuant to which the Commission submitted the proposal to Parliament (C100011/2025),

–having regard to Article 294(3) of the Treaty on the Functioning of the European Union,

–having regard to the opinion of the European Central Bank of 31 March 2025,

–having regard to the opinion of the European Economic and Social Committee of 30 April 2025,

–having regard to the provisional agreement approved by the committee responsible under Rule 75(4) of its Rules of Procedure and the undertaking given by the Council representative by letter of 27 June 2025 to approve Parliament’s position, in accordance with Article 294(4) of the Treaty on the Functioning of the European Union,

–having regard to Rule 60 of its Rules of Procedure,

–having regard to the report of the Committee on Economic and Monetary Affairs (A10-0095/2025),

1.Adopts its position at first reading hereinafter set out;

2. Calls on the Commission to refer the matter to Parliament again if it replaces, substantially amends or intends to substantially amend its proposal;

3. Instructs its President to forward its position to the Council, the Commission and the national parliaments.

P10_TC1-COD(2025)0022

Position of the European Parliament adopted at first reading on 10 September 2025 with a view to the adoption of Regulation (EU) 2025/… of the European Parliament and of the Council amending Regulation (EU) No 909/2014 as regards a shorter settlement cycle in the Union

(As an agreement was reached between Parliament and Council, Parliament's position corresponds to the final legislative act, Regulation (EU) 2025/2075.)

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Sources & citation

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Permalink
https://news.eu-parl.st-solutions.dev/texts/TA-10-2025-0179
Official source
Data source
Licensed CC BY 4.0.
Retrieved
26 September 2026

Cite as

European Parliament (2025). “Securities settlement in the EU and central securities depositories (CSDs): shorter settlement cycle in the Union”. Text, 10 September 2025. docId TA-10-2025-0179, reference TA10-0179/2025. EU Parl Watch Research. https://news.eu-parl.st-solutions.dev/texts/TA-10-2025-0179 (retrieved 26 September 2026). Official source: The text on the European Parliament’s website, https://www.europarl.europa.eu/doceo/document/TA-10-2025-0179_EN.html. Data: EP Open Data API: document record, https://data.europarl.europa.eu/api/v2/documents/TA-10-2025-0179 (CC BY 4.0).
BibTeX 
@misc{epw-text-ta-10-2025-0179,
  author = {{European Parliament}},
  title = {{Securities settlement in the EU and central securities depositories (CSDs): shorter settlement cycle in the Union}},
  year = {2025},
  date = {2025-09-10},
  howpublished = {\url{https://news.eu-parl.st-solutions.dev/texts/TA-10-2025-0179}},
  url = {https://news.eu-parl.st-solutions.dev/texts/TA-10-2025-0179},
  urldate = {2026-09-26},
  publisher = {EU Parl Watch Research},
  note = {Text. docId TA-10-2025-0179, reference TA10-0179/2025. Official source: https://www.europarl.europa.eu/doceo/document/TA-10-2025-0179\_EN.html. Data: EP Open Data API: document record (CC BY 4.0)}
}