ICE FEU T+1 Settlement Changes

Published on: May 18, 2026

On May 13, ICE FEU issued advice on shorter settlement cycle.

  • ICE FEU published circular on changes to standard settlement cycle for physically delivered contracts due to T+1 transition in EU, UK and Switzerland.
  • Changes Overview
  • Settlement of physically delivered single-stock futures, options, and ETF options contracts will change to E+1.
  • This excludes underlyings listed on SWI SIX, NYSE and NASDAQ.
  • Settlement of stock leg of delta-neutral single-stock option trades will be T+1.
  • 18:30 UK time exercise deadline will remain unchanged.
  • List of Company Shares referenced in Contract Rules will be updated for new settlement cycle and posted online.
  • Effectiveness
  • Changes to settlement of single-stock futures, options and ETF options contracts will apply from Oct. 11, 2027.
  • Contracts based on SWI SIX underlyings will switch to E+1 in line with EU go-live date.
Regulators
ICE FEU
Entity Types
CTA; Depo; Exch; FCM; SHC
Reference
Cir 26/074, 5/13/2026; T+1 Cycle
Functions
Compliance; Financial; Legal; Operations; Reporting; Risk; Settlement; Trading
Countries
EU Exchange
Category
State
N/A
Products
Clearing; Derivatives; Equity; ETFs; Futures; Payments; Securities; Stock Lending
Rule Type
Final
Regions
EMEA
Rule Date
May 13, 2026
Effective Date
Oct 11, 2026
Rule ID
297939
Linked to
N/A
Reg. Last Update
May 13, 2026
Report Section
EU