Overview
Agenda

Date: 9 November 2026
Time: 14:00-15:30 GMT | 15:00-16:30 CET

Overview

As the EU prepares for the transition to T+1 settlement, market participants are assessing the operational changes needed to support a shorter settlement cycle. For securities financing transactions (SFTs), the introduction of a new Gating Event, one of the key recommendations of the EU T+1 Industry Committee, is an important part of these preparations. The Gating Event will be rolled out across all major EU CSDs ahead of the T+1 go-live in October 2027. It is designed to optimise the settlement of SFTs and related cash market transactions, while mitigating adverse effects on firms’ liquidity management and settlement efficiency more broadly.

Background material

EU T+1 High-Level Roadmap (June 2025) - see SF-01, as well as problem statement on pp.46-47

Final report of the SFT Settlement Optimisation Taskforce (December 2025) - setting out key specifications of the Gating Event solution

Gating Event FAQs and Best Practices (June 2026) - further guidance published by the EU T+1 Industry Committee

For further background and resources, see: Website of the EU T+1 Industry Committee

Webinar

Hosted under the auspices of the EU T+1 Industry Committee, this webinar will bring together industry experts to explore the purpose and practical application of the new Gating Event, its implications for market participants, and key considerations for firms preparing for T+1.

In the first part of the webinar, the two ICSDs and T2S experts from the ECB will outline their Gating Event implementation plans, timelines and testing arrangements. In the second part, a panel of market practitioners will discuss practical use cases and challenges, including recently published best practices on the appropriate use of the functionality, CCPs’ approach to the Gating Event, and the steps firms need to take to prepare.

There will be a Q&A session as part of the webinar. To submit questions in advance, please send them to events@icmagroup.org

Registration for this event is now closed.

If you have any questions, please contact ICMA events.

Hosted under the auspices of

GMT    
14:00   Welcome and background: What is the new SFT Gating Event and why will it be introduced?
  • Marcello Topa, Director, Global Head of Advocacy, Investor Services, Citi
  • Alex Westphal, Senior Director, Market Practice and Regulatory Policy, ICMA
14:15   CSD update: Implementation plans and testing for the Gating Event
  • Eric de Spirlet, Director, Head of Credit and Liquidity service, Product Management, Euroclear
  • Arnaud Jochems, Head of Settlement Product, Clearstream
  • Rémy Al Sbinati, T2S evolution management, Market Infrastructure Division, European Central Bank
14:45   Panel discussion: The market practitioner's perspective on the Gating Event
  • Thomas Hansen, Global Head of Securities Finance, Santander CIB
  • Roy Zimmerhansl, Head of Capital Markets, WTS Hansuke 
  • James Upton, COO, LCH RepoClear and Collateral and Liquidity Management, LSEG
  • David Le Guern, Executive Director, Head of FIF & Securities Middle Office, J.P. Morgan Chase
15:15   Q&A
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