EU are working on introducing new regulation of CSDs in Europe, which among other items include a requirement of having a settlement cycle of maximum two days for all trades performed on exchanges and MTFs. With few exceptions all European countries currently offer a settlement cycle of T+3. However, in most countries there are processes ongoing on introducing T+2 in order to be in compliance with the new EU-regulation (the CSD directive).
Both Nordic and international market participants has given Oslo Børs VPS feedback that they prefer a Nordic coordination of implementation of T+2. The Nordic securities dealers associations have recommended that T+2 should be introduced in all the Nordic countries on 6 October 2014. Oslo Børs VPS supports this recommendation and will for this reason prepare the transfer for the Norwegian market with effect from 6 October 2014.