T+1 settlement taskforce updates on progress

The UK Accelerated Settlement Taskforce has published a progress report on the move towards T+1 settlement in October 2027.

The report highlights a number of the task force’s achievements in 2025, including:

• Launching a website and LinkedIn page, which have become valuable resources for global participants;
• Publishing the T+1 Implementation Plan;
• Launching a quarterly implementation forum to facilitate collaboration among market participants.

Readiness surveys indicated progress, with increased engagement and understanding of the compliance tasks required for T+1. However, budget allocation remained a major concern, with 61% of participants not securing necessary funds by Q3 2025. Furthermore, the survey suggested that a majority of participants would fail to meet the end of 2026 deadline for allocation and confirmation processing.

Overall, the review emphasises the importance of accelerating internal automation, engaging with counterparties and updating fund dealing cycles to ensure readiness for T+1 by October 2027.