Some 62% of global firms are now engaging on plans to prepare for the UK transition to T+1, a new industry survey has found.
Andrew Douglas
The ValueExchange report – led by the UK Accelerated Settlement Taskforce and sponsored by Euroclear, the Depository Trust & Clearing Corporation (DTCC) and several industry associations – found that the majority of the 550 organisations surveyed are beginning preparations to meet the guidelines set out by the taskforce’s implementation plan.
“We are encouraged to see such strong, early engagement from the industry ahead of the UK’s transition to T+1 in 2027,” said Andrew Douglas, chair of the UK Accelerated Settlement Taskforce.
“With the industry Implementation Plan now published, firms now need to begin their T+1 preparations as soon as possible in 2025, so that they can be fully prepared for our industry deadlines in 2026 and 2027.”
Challenges remain, however. The survey revealed a limited amount of planned activity in 2025, while 26% of respondents indicated that they will miss the target of all trade allocations and confirmations being completed on trade date by 31 December 2026.
More than half of respondents (51%) said they need more clarity on the specific operational details behind the industry guidelines, with alignment discrepancies between the UK and the EU a key concern for participants.
Chris Elms, chief executive of Euroclear UK and International, added: “There is strong industry engagement on the UK’s T+1 transition, and it is encouraging that many firms are building on their North American T+1 investment and expecting those upgrades to benefit the UK transition.
“But, with 26% already at risk of missing the 2026 deadline for same-day allocations, and 35% unclear on what T+1 means in practice, particularly around funding and valuations, the need for decisive action is pressing.”