MFSA and Central Bank establish national taskforce for T+1 settlement transition - The Malta Independent
The MFSA and Central Bank of Malta have formed a national taskforce to prepare for the EU-wide transition to T+1 securities settlement by October 2027.Summary
The Malta Financial Services Authority (MFSA) and the Central Bank of Malta (CBM) have jointly established a T+1 National Coordination Group (NCG) to manage Malta’s transition to a T+1 securities settlement cycle, aligning with the EU program scheduled for completion by October 11, 2027. The NCG will serve as the central forum for decision-making, planning, and coordination, with the MFSA as Chair and the CBM as Vice-Chair, and the Malta Stock Exchange plc (MSE) as a permanent technical member.
The NCG will operate through four workstreams: Legal and Rulebook, focusing on necessary statutory amendments; Operations and Market Practice, standardizing trade lifecycles; Technology, Messaging and T2S, adapting systems and messaging; and Liquidity, Foreign Exchange and Testing, coordinating liquidity arrangements and testing. The authorities are encouraging participation from relevant national associations and regulated entities, requesting they designate contact points and submit a participation statement by April 17, 2026.
Official information will be published on the MFSA website, and market communication will be jointly issued by the MFSA and CBM. The binding obligation for transactions will be settlement no later than T+1 as of October 11, 2027, and entities are urged to prioritize early preparation.
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