UK Accelerated Settlement Taskforce Quarterly Review – Q2 2025

The T+1 Implementation Forum Kicks Off

On 4 June, we hosted the inaugural session of the T+1 Implementation Forum, a new quarterly industry engagement initiative designed to offer an open space for questions, clarification and collaboration.

The session featured a live Q&A format, giving firms the opportunity to discuss issues directly with members of the AST and hear insights from across the market. We were encouraged by the level of engagement and interest shown and look forward to the next one.

The next forum will be held in September (exact date to be confirmed), and we strongly encourage all market participants to join. These sessions are designed to support the industry through the transition and your input will help shape future guidance and focus areas.

Save the Date: EY Road to T+1 Event, 16 July

Our next major in-person event in collaboration with EY, will take place on Tuesday 16 July at EY’s office in London, with the option to join virtually too.

The event will explore the operational, technical and behavioural implications of moving to T+1, with panels covering everything from data readiness and FX challenges to operational resilience. It will also include contributions from regulators and members of the AST.

Registration is now open – spaces are limited, so we encourage early sign-up via the event page.

Website Enhancements: Your Go-To Resource Hub

The UK Accelerated Settlement Taskforce website has undergone several updates this quarter to help firms prepare more effectively:

·       Countdown: The home page now includes a countdown to 11 October 2027.

·       Comms Calendar: Stay ahead with a forward view of key dates, industry events and AST publications.

·       FAQs Page: Browse answers to questions around implementation or submit your own directly through the website.

·       CREST Settlement Monitoring: We’ve launched a new data section that tracks CREST settlement efficiency ahead of the 2027 transition.

·       New Blog Post: A mid-sized investment firm shares their journey to T+1 in North America, providing practical insight for UK firms beginning similar preparations. Find it in the additional resources section and on the homepage.

We encourage all firms to regularly check the website and follow the AST LinkedIn page for the latest updates.

ValueExchange Survey: Measuring Industry Readiness

The latest ValueExchange research, published in June, highlights strong market momentum – with over 80% of firms already beginning their T+1 planning.

The survey identifies key risk areas including trade matching, FX cut-offs, and settlement instruction processes. It also reveals a growing awareness of the behavioural and cultural changes required to meet the T+1 deadline.

You can access the full summary here.

Stay Engaged: The Transition is Underway

As we move into the second half of 2025, the pace of activity is accelerating. Practical implementation efforts must take priority across firms as we move from exploration to execution. The timely success of the transition to T+1 will heavily depend on the decisions made this year, especially when it comes to securing budgets. With many firms entering their budget planning cycles, now is the time to ensure that T+1 implementation is prioritised and adequately resourced.

We encourage all market participants to:

·       Secure budgets for T+1 implementation

·       Read the Implementation Report and map recommendations to your firm’s systems and processes

·       Participate in readiness forums, surveys and webinars

·       Reach out to the AST with questions or interest in contributing to workstreams

Breaking news: EU finalises high-level road map for T+1

As we went to publication of this newsletter, we were very happy to see the EU T+1 Industry Committee, led by my colleague and friend Giovanni Sabatini, publishing on time and as promised, its high level roadmap to T+1. You can read it here.

Read it, work out what you need to do and then get on with doing it, the clock is ticking!

The countdown to October 2027 is well underway. Now is the time to prepare.

Kind regards,

Andrew Douglas

Chair, Accelerated Settlement Taskforce

July 2025