The UK’s move to T+1
The UK Accelerated Settlement Taskforce (AST) is recommending that the UK moves to the T+1 settlement cycle for securities on 11 October 2027.
Phase 1: Accelerated Settlement Taskforce review
The UK Accelerated Settlement Taskforce (AST) is recommending that the UK moves to the T+1 settlement cycle for securities on 11 October 2027.
As part of the Edinburgh Reforms announced in December 2022, HM Government established the Accelerated Settlement Taskforce (AST) chaired by Charlie Geffen. The AST published its Geffen report in March 2024 including ten recommendations, all of which were accepted by the government in its response.
The key recommendations agreed by HM Government were that:
- The UK should move to T+1 settlement no later than 31st December 2027
- The UK and other European jurisdictions should collaborate closely to see if a coordinated move to T+1 is possible, and if other European jurisdictions commit to a transition date then the UK should consider whether it wishes to align with that timeline
- A Technical Group should be established to make detailed recommendations on how the transition should be delivered.