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Euroclear and HSBC launch AutoFX
02 September 2026 Europe
Image: Artemii Sh/stock.adobe.com
Euroclear and HSBC are collaborating to launch AutoFX, a new automated FX service, which embeds clients’ FX execution directly into the settlement process.
The service comes as European and UK securities markets prepare to move to T+1 settlement, anticipated for October 2027.
According to the firm, AutoFX will integrate FX conversion and execution, initially for over 30 currencies, directly into the securities settlement process to enable Euroclear’s clients to manage cross-currency transactions more efficiently.
Euroclear anticipates AutoFX will be available in early 2027, and says the initiative will link HSBC’s global FX pricing, conversion, and liquidity capabilities with Euroclear’s settlement infrastructure.
Sebastien Danloy, chief business officer of Euroclear, says: “The move to T+1 is one of the most significant changes to Europe’s post-trade landscape in decades. While it will deliver important efficiency gains for the market, it also requires firms to modernise and automate their processes.
“Our role is to support clients through this transition by achieving the right balance between simplicity and resilience.” Danloy continues: “Solutions such as AutoFX will help the industry realise the full benefits of T+1 while supporting a more harmonsied settlement landscape.”
Vincent Bonamy, head of global FX services of HSBC, adds: “The first-of-its-kind FX service for Euroclear will help pave the way for enhanced FX solutions across our industry on a global scale. As part of our Global FX Services offering, which has on-the-ground presence in more than 20 markets, we have developed a broad range of FX solutions across the full FX value chain, from front to back.”
The service comes as European and UK securities markets prepare to move to T+1 settlement, anticipated for October 2027.
According to the firm, AutoFX will integrate FX conversion and execution, initially for over 30 currencies, directly into the securities settlement process to enable Euroclear’s clients to manage cross-currency transactions more efficiently.
Euroclear anticipates AutoFX will be available in early 2027, and says the initiative will link HSBC’s global FX pricing, conversion, and liquidity capabilities with Euroclear’s settlement infrastructure.
Sebastien Danloy, chief business officer of Euroclear, says: “The move to T+1 is one of the most significant changes to Europe’s post-trade landscape in decades. While it will deliver important efficiency gains for the market, it also requires firms to modernise and automate their processes.
“Our role is to support clients through this transition by achieving the right balance between simplicity and resilience.” Danloy continues: “Solutions such as AutoFX will help the industry realise the full benefits of T+1 while supporting a more harmonsied settlement landscape.”
Vincent Bonamy, head of global FX services of HSBC, adds: “The first-of-its-kind FX service for Euroclear will help pave the way for enhanced FX solutions across our industry on a global scale. As part of our Global FX Services offering, which has on-the-ground presence in more than 20 markets, we have developed a broad range of FX solutions across the full FX value chain, from front to back.”
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