Standard settlement for European securities is changing
The standard settlement period for certain European securities is changing to T+2, in accordance with the Central Securities Depository Regulation (CSDR).
In line with market convention, Tradeweb will be making the following changes for October 6, 2014. Clients will continue to be able to select and request a non-standard settlement period when necessary.
European government bonds:
• All, excluding bonds issued by the UK (gilts), as their standard settlement period is T+1.
European spread products:
• All European credit, covered bonds, and SAS (supranationals, agencies and sovereigns) securities, whose ISIN prefix denotes a European country or “XS”.
Please note: this will include USD-denominated bonds available on the Tradeweb European credit (EUCR), covered bond (COVRD), SAS (SUPR) and Dollar SAS (DSUP) platforms.
• All ETFs on Tradeweb will move to T+2 as standard.