Giovanni Sabatini to lead EU T+1 migration as independent industry chair

Giovanni Sabatini has been appointed as independent industry chair to lead the facilitation of the EU’s migration to T+1 settlement. The appointment was announced in a LinkedIn post by the European Securities and Markets Authority (ESMA). As industry chair, Sabatini will be “acting as the link between the industry and the public sector working to shorten the settlement cycle,” states the authority.

Sabatini brings to the role decades of experience in the securities markets, in both the private and public sectors. He has served within the European Economic and Social Committee (EESC), the International Organization of Securities Commission (IOSCO), European Banking Federation (EBF), and European Central Securities Depositories Association (ECSDA). His appointment is a part of the agreement between ESMA, the European Commission, and European Central Bank (ECB) to put in place “specific governance to help the industry coordinate the shift to T+1 in the EU”.