Procedure

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

2025/0022(COD)·10th term·ECON·COD - Ordinary legislative procedure (ex-codecision procedure)·CompletedProcedure completed

Subjects: Securities and financial markets, stock exchange, CIUTS, investments · Banks and credit · Financial services, financial reporting and auditing · Financial supervision

Rapporteur (the Member appointed to lead Parliament's work on this text): VAN OVERTVELDT Johan (ECR)

Summary

Legislative dossier on securities settlement in the EU and central securities depositories, introducing a shorter settlement cycle in the Union. Amendments debate shortening the mandatory settlement cycle to one day after trading, exclusions for securities financing transactions, risks of delayed and failed trades, liquidity and cash penalties, cash-management complications for foreign exchange components, and a future review exploring the feasibility of a T+0 cycle.

Procedure timeline

Committee amendments tabled
2 May 2025
Plenary vote — Adopted
10 Sep 2025 · On the provisional agreement negotiated with the Council (the trilogue deal) — amendment 2
Procedure completed

Amendments

distinct, in window

Members

tabled at least one

Committee(s)

2 May 2025

Dates

Plenary votes

1 roll-call votes

In plenary, Parliament usually votes in steps: first on amendments to the text (sometimes split into parts, so Members can accept one half of a sentence and reject the other), then on the text as a whole. The “main vote” is the one that adopts or rejects the text itself. Each vote below shows exactly which step it was. How voting works →

10 Sep 2025Main voteAdopted
On the provisional agreement negotiated with the Council (the trilogue deal) — amendment 2
Official label: Accord provisoire - Am 2 · what was voted ↗
612 for7 against45 abstentions55 did not vote
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Against
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