The Swedish securities market is entering an important period of change. Euroclear Sweden is preparing to replace its current CSD system and target a migration to T2S in 2030 — the European platform for securities settlement.

This is part of a broader harmonization journey, where the Swedish market will move closer to European post-trade standards. Before the migration, market participants will need to prepare for changes in areas such as settlement models, account structures, corporate actions, messaging standards, reconciliation, reporting, and operational processes. A key part of this journey is also the move towards more standardized communication, including increased use of ISO 20022 messaging.

Each year, the Swift standards are updated to support new market needs, regulatory requirements, and evolving post-trade processes. Brokerway has now started the analysis of the upcoming Swift Release 2026, covering changes in both ISO 15022 MT messages and ISO 20022 MX/XML messages.

The 2026 release includes updates across corporate actions, settlement, general meetings, shareholder identification disclosure, investment funds, tax documentation, market claims, buyer protection, digital assets, DLT-related processing, and T+1 settlement support. Several of the identified changes are mandatory for the market and will require system adjustments to remain compliant.

Brokerway will be attending PostTrade 360° 2026 on 2–3 September 2026 at Stockholm Waterfront Congress Centre — and we look forward to meeting banks, brokers, custodians, asset managers, and other financial institutions working within the securities industry.

The post-trade landscape is changing fast. With the Swedish market preparing for T2S, the move towards ISO 20022, new Swift releases, and growing regulatory demands, now is the time to prepare for the next generation of back-office operations.

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Are you currently using ISO 15022 messages in your processing flows?

Euroclear Sweden has introduced its new ISO 20022 Corporate Actions messaging service — bringing richer data, broader event coverage and near real-time distribution to the Swedish market. The phase-out of ISO 15022 (MT564/MT566) is planned for December 2027 as part of the broader post-trade harmonization program and the future move toward T2S infrastructure.

After several months of analysis, development, and testing, our system platform STX is now ready for SWIFT Standards Release.

September 4-5, Stockholm Waterfront. Read more on PostTrade's site for the event.