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Firms actively engaged in UK T+1 on the rise, says new report
09 June 2026 UK and EU
Image: Olivier_Le_Moal/stock.adobe.com
The latest market readiness survey for T+1 in the UK has revealed that 83 per cent of firms are actively engaged in the UK’s move to T+1, up from 66 per cent in Q3 2025.
Conducted by The ValueExchange, the research reveals how preparations are progressing in the UK and the EU, as the market heads towards the 11 October 2027 joint deadline for one-day trade settlement.
According to the UK T+1 Accelerated Settlement Taskforce (AST), at a similar juncture in the US transition to T+1 completed in 2024, just 67 per cent of firms were actively engaged in the transition.
The survey shows significant progress in market readiness since the last survey in Q3 2025, with the volume of firms still in preparation stages reducing by half.
The survey also found that 90 per cent of firms expect to have scoped and funded their T+1 work by the end of 2026.
Chris Elms, CEO of Euroclear UK & International, states: “These results mark a positive step forward, with firms across both the UK and EU clearly making strong progress towards the T+1 deadline.
“The rise in firms actively engaging with the UK’s transition is particularly encouraging and reflects growing momentum across the market.
“It is essential that this progress continues, and we will continue engaging with stakeholders to support market preparedness as we approach the transition date.”
Automation has been a strong area of focus for preparations, with the AST advising that automation of post-trade processes is the only way to ensure success in a T+1 world.
These new figures show that 51 per cent of firms have already automated settlement instruction processing, and 63 per cent of firms expect to complete their automation work in 2027.
The data also shows where the challenges for T+1 preparedness could lie, with the buy side emerging as less prepared than the rest of the market.
57 per cent of the buy side has yet to start development work, with concerns around funding and FX challenges ranking highly.
The buy side is also concerned about how dependencies on custodians or settlement agents, as well as on clients and counterparties, could impact them in T+1.
Concerns have also emerged around broker and service provider readiness, with less than half of firms believing their service provider is able to support their T+1 preparations today, and only 19 per cent of respondents feeling that their prime broker is able to do the same.
The number of fund managers planning to change their fund dealing cycle as a result of T+1 in the UK has increased by 4 per cent, with 63 per cent planning to change it ahead of the deadline and 26 per cent after the deadline.
On the sell side, overall confidence is higher but the main challenges are settlement exceptions and pre-trade set-up.
Following the release of the UK and EU’s joint T+1 testing plan earlier this year, 78 per cent of financial market infrastructures will be ready for testing in Q1 2027, the core industry window.
Andrew Douglas, chair of the UK Accelerated Settlement Taskforce, states: “These findings demonstrate the momentum that is building across the market towards T+1 ahead of the all-important 11 October 2027 deadline.
“We are sitting ahead of where the US was at a comparable point in its journey and the industry is acting on the lessons learned from that US experience about the need for automation, with good progress made particularly in settlement instruction automation.
“Encouragingly, the number of fund managers planning to change their fund dealing cycle as a result of T+1 in the UK is increasing, showing that this segment of the market is engaging with the transition.
“Over the coming months, we would like to see greater progress on the buy side in order to ensure a smooth transition to T+1 in which everyone within the settlement chain is ready for success.”
Conducted by The ValueExchange, the research reveals how preparations are progressing in the UK and the EU, as the market heads towards the 11 October 2027 joint deadline for one-day trade settlement.
According to the UK T+1 Accelerated Settlement Taskforce (AST), at a similar juncture in the US transition to T+1 completed in 2024, just 67 per cent of firms were actively engaged in the transition.
The survey shows significant progress in market readiness since the last survey in Q3 2025, with the volume of firms still in preparation stages reducing by half.
The survey also found that 90 per cent of firms expect to have scoped and funded their T+1 work by the end of 2026.
Chris Elms, CEO of Euroclear UK & International, states: “These results mark a positive step forward, with firms across both the UK and EU clearly making strong progress towards the T+1 deadline.
“The rise in firms actively engaging with the UK’s transition is particularly encouraging and reflects growing momentum across the market.
“It is essential that this progress continues, and we will continue engaging with stakeholders to support market preparedness as we approach the transition date.”
Automation has been a strong area of focus for preparations, with the AST advising that automation of post-trade processes is the only way to ensure success in a T+1 world.
These new figures show that 51 per cent of firms have already automated settlement instruction processing, and 63 per cent of firms expect to complete their automation work in 2027.
The data also shows where the challenges for T+1 preparedness could lie, with the buy side emerging as less prepared than the rest of the market.
57 per cent of the buy side has yet to start development work, with concerns around funding and FX challenges ranking highly.
The buy side is also concerned about how dependencies on custodians or settlement agents, as well as on clients and counterparties, could impact them in T+1.
Concerns have also emerged around broker and service provider readiness, with less than half of firms believing their service provider is able to support their T+1 preparations today, and only 19 per cent of respondents feeling that their prime broker is able to do the same.
The number of fund managers planning to change their fund dealing cycle as a result of T+1 in the UK has increased by 4 per cent, with 63 per cent planning to change it ahead of the deadline and 26 per cent after the deadline.
On the sell side, overall confidence is higher but the main challenges are settlement exceptions and pre-trade set-up.
Following the release of the UK and EU’s joint T+1 testing plan earlier this year, 78 per cent of financial market infrastructures will be ready for testing in Q1 2027, the core industry window.
Andrew Douglas, chair of the UK Accelerated Settlement Taskforce, states: “These findings demonstrate the momentum that is building across the market towards T+1 ahead of the all-important 11 October 2027 deadline.
“We are sitting ahead of where the US was at a comparable point in its journey and the industry is acting on the lessons learned from that US experience about the need for automation, with good progress made particularly in settlement instruction automation.
“Encouragingly, the number of fund managers planning to change their fund dealing cycle as a result of T+1 in the UK is increasing, showing that this segment of the market is engaging with the transition.
“Over the coming months, we would like to see greater progress on the buy side in order to ensure a smooth transition to T+1 in which everyone within the settlement chain is ready for success.”
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