The reform of clearing and settlement in Spain concludes successfully

The settlement of exchange-traded instruments has changed smoothly to T+2 since last week

The Reform of Clearing and Settlement in Spain concluded successfully this week with the reduction in the equities settlement cycle from three to two days following the trade date (T+2), a cycle that previously applied only to Fixed Income instruments.

The reform of the Spanish stock market began on April 27^th. One of the main elements worth mentioning is the creation of a Central Counterparty (CCP), BME Clearing.

The reform now completed will allow the inclusion of Iberclear in the T2S platform of the ECB, whose main aim is to facilitate the settlement of trades of participants in different European CSDs through a single platform.