Euroclear and HSBC Partner to Launch Automated FX Service Ahead of T+1 Settlement Shift | LeapRate
Euroclear and HSBC have announced a strategic collaboration to launch AutoFX, a new automated foreign exchange service aimed at helping Euroclear’s clients prepare for the move to T+1 settlement across European and UK securities markets.
Unveiled on September 1, 2026, from Brussels and London, AutoFX is designed to embed clients’ FX execution directly into the settlement process. The service will automatically source required currencies, helping firms reduce operational risk while supporting settlement certainty and streamlining cross-border activity.
The shift to T+1 settlement, anticipated for October 2027 in Europe and the UK, will shorten the window between trade execution and settlement.
While this is expected to improve market efficiency and reduce counterparty risk, it will also demand faster funding, liquidity and FX processes, increasing the need for automation.
AutoFX will initially cover more than 30 currencies, integrating FX conversion and execution into the settlement workflow.
Clients are expected to gain real-time visibility through an execution dashboard, access to intraday FX fixing points aligned with global settlement schedules, transparent pricing and tools intended to optimize liquidity and reduce excess funding needs. The service is expected to launch in early 2027.
The partnership combines Euroclear’s settlement infrastructure with HSBC’s global FX pricing and liquidity capabilities.
Sebastien Danloy, Euroclear’s Chief Business Officer, described the T+1 transition as one of the most significant post-trade changes in decades, while Vincent Bonamy, HSBC’s Head of Global FX Services, called AutoFX a first-of-its-kind offering that could shape future FX solutions industry-wide.
