UMOA Securities Depository Shortens Settlement Cycle to Two Days

Finance

Tuesday, 04 November 2025 18:16

UMOA Securities Depository Shortens Settlement Cycle to Two Days

(Togo First) - The Board of Directors of the Central Depository/Settlement Bank (DC/BR) has approved shortening the settlement and delivery period for securities transactions on the regional financial market from three to two days.

The change, which takes effect in December 2025, aims to enhance market liquidity and improve operational efficiency.

According to the DC/BR, shifting the settlement cycle from T+3 to T+2 will reduce transaction risks and align regional practices with international standards. The move forms part of broader efforts to modernize financial infrastructure across the West African Monetary Union (UMOA).

The Board, chaired by Faman Touré, also approved new procedures for handling late settlements in post-trade operations. The framework was cleared in advance by the WAMU Financial Markets Authority (AMF-UMOA).

Based in Abidjan,Côte d’Ivoire, the DC/BR manages securities custody for market participants and oversees post-trade settlements, helping to maintain the stability and security of the regional financial system.

R.E.D

REFORMS OVERVIEW

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Creation of special chambers of commerce for small debts • Creation of chambers of commerce at the Court of Appeal • Civil and commercial cases now handled by distinct clerks • Establishment of commercial courts in Lomé and Kara • Lawyers and bailiffs now have access to the FORSETI COMMERCIAL platform • A maximum period of 100 days was fixed to settle a commercial dispute .

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In comparison to previous years, Togo has significantly improved its ranking on the “Trading across borders” index by adopting multiple reforms that focus mainly on the digitalization and reduction in delays, for import and export procedures related to import and export.

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