Recent research from the Accelerated Settlement Taskforce has found that almost 83% of UK firms are actively engaging on T+1, beating competitors in the US.
The T+1 settlement refers to a change in financial markets where buying a stock or bond will be settled within one business day, as opposed to the current two-day cycle (T+2), which is targeted to come into effect by October 2027.
More than half of firms have started their T+1 project work, according to the survey, almost three times as much compared to the previous taskforce survey six months ago. On top of this, almost 14% now see themselves as compliant or fully prepared already.
By the end of 2026, around 90% of firms expect to have funded their T+1 work, according to the survey.
Andrew Douglas, chair of the UK Accelerated Settlement Taskforce, said: “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.”
The research found that 89% of UK fund managers are planning to change their fund dealing cycle because of T+1in the UK.
However, the research found there was still more to be done. While the number of firms still in the preparation stage has reduced by half since Q3 2025, roughly 57% of firms have yet to start any development work on the buy side, the survey found.
Douglas added: “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.”
