The UK’s transition to T+1 securities settlement is a critical work stream for UK financial markets, and with government confirming its support for the move, the industry now has clear backing to move forward.
Firms must act now by planning, securing budgets, and investing in automation which will be critical to meeting the 11 October, 2027 deadline.
We are working closely with Chairman Andrew Douglas, the taskforce team and support partner Euroclear UK & International on all aspects of communications around this important workstream, including building out its new website and LinkedIn page.
Maintaining key stakeholder engagement, media interest will remain critical to the UK’s success and the AST’s digital channels will provide important updates and resource repositories for market participants as the UK moves towards T+1 settlement.
The UK is also taking valuable lessons from the US move to T+1 in May 2024, ensuring that firms can overcome key challenges—particularly the need for automation.
The UK, EU, and Swiss taskforces are also now working towards the same implementation timeline, aligning approaches and sharing insights where appropriate to create a harmonised transition.
Financial firms, industry leaders and public authorities gathered at Canary Wharf to discuss the implementation roadmap for this major market transformation.
This event, hosted by the Accelerated Settlement Taskforce (AST), provided an opportunity to hear directly from taskforce members and other key stakeholders about the critical recommendations outlined in the recently published T+1 implementation plan.
Andrew Douglas opened proceedings, followed by messages of support from the Economic Secretary to the Treasury, Emma Reynolds MP and Sasha Mills from the Bank of England. Mark Francis from the Financial Conduct Authority, reinforced the key messages of reading the report, planning early, securing the budget in 2025 and implementing in 2026.
In a panel session, taskforce members presented the critical recommendations from the final implementation plan, answering audience questions on how firms can start preparing for T+1.
Attendees also heard from firms which have already started their T+1 journey and explored the UK’s shift to T+1, key lessons from the US, challenges ahead for the EU, and why automation is a crucial component in this transition.
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