(2 September 2026 – Europe) Euroclear and HSBC are collaborating on AutoFX, a new automated foreign exchange service designed to help clients navigate the upcoming shift to T+1 settlement in Europe and the UK, expected in October 2027.
The compressed post-trade window will require firms to complete funding, liquidity, and FX activities significantly faster, increasing the need for automation across the settlement process.
AutoFX will integrate FX conversion and execution — initially covering more than 30 currencies — directly into the securities settlement process, linking Euroclear’s settlement infrastructure with HSBC’s global FX pricing, conversion, and liquidity capabilities. Clients will have access to real-time visibility over FX activity via an execution dashboard, intraday FX fixing points aligned to settlement schedules across time zones, transparent pricing, and liquidity optimisation tools designed to reduce excess funding requirements. The service is scheduled for introduction in early 2027.
“The move to T+1 is one of the most significant changes to Europe’s post-trade landscape in decades,” said Sebastien Danloy, chief business officer at Euroclear. “By partnering with HSBC, we are extending our settlement offering with integrated FX services that help clients improve settlement certainty and confidently adapt to a faster settlement environment.”