UK T+1 Accelerated Settlement Taskforce confirms implementation plan
06 February 2025 UK
Image: TA_design/stock.adobe.com
The UK T+1 Accelerated Settlement Task Force (AST) has published its implementation plan for the UK’s transition to T+1 securities settlement.
Included in the plan is a code of conduct for market participants which confirms 11 October 2027 as the first trading date in the UK cash equities for settlement on T+1.
The plan also confirms a ‘clearly defined scope’, 12 critical operational actions and 26 highly recommended actions.
It also includes five behavioural commitments such as a push for automation in standard settlement instructions (SSIs), corporate actions, and stock lending recalls.
This is in addition to a focus on ‘action this day’, urging firms to begin planning and where practicable, immediate implementation.
Following this news, the UK T+1 AST will hold an online and in-person event for market participants on 20 February to provide an opportunity to hear the task force detail the critical recommendations made in the implementation plan.
Attendees will also hear a live discussion among firms which have already begun to plan their own journey to this shorter settlement cycle.
Andrew Douglas, chair of the UK T+1 AST, says: “This is a milestone in the UK’s journey to T+1 settlement and reflects a substantial amount of work and co-operation across the industry.
“We have a date and a detailed plan for the way ahead. Market participants should start planning now ahead of the 2025 budget process for project funding in 2026. Automation will be a key component of a successful implementation.”
Included in the plan is a code of conduct for market participants which confirms 11 October 2027 as the first trading date in the UK cash equities for settlement on T+1.
The plan also confirms a ‘clearly defined scope’, 12 critical operational actions and 26 highly recommended actions.
It also includes five behavioural commitments such as a push for automation in standard settlement instructions (SSIs), corporate actions, and stock lending recalls.
This is in addition to a focus on ‘action this day’, urging firms to begin planning and where practicable, immediate implementation.
Following this news, the UK T+1 AST will hold an online and in-person event for market participants on 20 February to provide an opportunity to hear the task force detail the critical recommendations made in the implementation plan.
Attendees will also hear a live discussion among firms which have already begun to plan their own journey to this shorter settlement cycle.
Andrew Douglas, chair of the UK T+1 AST, says: “This is a milestone in the UK’s journey to T+1 settlement and reflects a substantial amount of work and co-operation across the industry.
“We have a date and a detailed plan for the way ahead. Market participants should start planning now ahead of the 2025 budget process for project funding in 2026. Automation will be a key component of a successful implementation.”
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