As the vanguards standing at the very end of the settlement cycle, CSDs have the responsibility to provide support to their participants in the transition to T+1. At the upcoming PostTrade 360° 2026 conference in September, Paolo Carabelli will discuss how both parties can make the best of this collaborative relationship in the session titled “The CSDs’ and CSD participants’ readiness for T+1”.
“No one can achieve T+1 on their own. It is a cooperative challenge,” says Carabelli, the senior manager for Product Development at Euronext Securities Milan. “On our end, as CSDs, we have to offer knowledge, the right environment to help participants complete testing, and new functionalities to optimise the settlement process.”
That said, support can look very different from one CSD participant to the next, depending on its role in the ecosystem and whether it is operating on a global or local scale. No matter the type of CSD participant, however, Carabelli emphasised that it is important for all entities involved before settlement occurs in the CSDs to be well-synchronised.
Plan for success
He hopes to highlight two key messages during his session – preparation and coordination. “Preparation is about introducing automation to internal systems in order to fully streamline the whole processing chain. When we talk about T+1, we talk about being faster. To be faster, you have to remove manual intervention and avoid exceptions – which implies interruption and thus, delays. This can only be achieved with automation.”
Secondly, coordination – “Information flow should go quick and without interruption from beginning to end, meaning from trade execution to settlement. This requires coordination and highly automated interactions between different actors.”
• For more information about the PostTrade 360° conference happening on 2-3 September 2026 and to register, click here
