LONDON, March 25 (Reuters) - Britain, the European Union and Switzerland on Wednesday took a step towards introducing one-day settlement of trades (T+1), as industry-led committees issued a joint
UK, EU and Switzerland Announce One-Day Settlement Testing for 2027
Joint Testing Plan and Transition to T+1 Settlement
LONDON, March 25 (Reuters) - Britain, the European Union and Switzerland on Wednesday took a step towards introducing one-day settlement of trades (T+1), as industry-led committees issued a joint testing plan to banks, brokers and asset managers ahead of the planned move next year.
The three jurisdictions have committed to move to T+1 on October 11, 2027
Financial Market Infrastructure and Testing Details
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Involvement of Market Infrastructure Firms
Financial market infrastructure firms including Euroclear, Euronext and Clearstream have been encouraged to be available to test one-day settlement over five windows in 2027
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Testing Periods
First Testing Window
The first testing period is February 1-12, 2027
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Market Participant Consultation
Major Institutions Involved
More than 50 market participants were consulted on the testing plan, including JP Morgan, BlackRock, Morgan Stanley, Barclays and UBS.
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Global Context
U.S. and Canada Transition
The U.S. and Canada moved to a one-day settlement cycle in 2024
(Reporting by Phoebe Seers. Editing by Mark Potter)
