T+1 in the UK in Q3 2025: key findings

How ready is the UK for T+1 as 66% of firms move into project mode?

In Partnership with

Content Types

Topics

Region

Tags

SHARE THIS INSIGHT

UK T+1 readiness is advancing, but confidence in third-party support remains weak. Based on input from more than 350 market participants across the EU and UK, these key findings show where timelines, automation and service provider readiness could still affect delivery.

Deadline already missed

Risk

Less than a third trust their service providers to be ready – adding external dependency risk to internal gaps.

Implementation cost is expected to remain below USD 1 million for most firms, making execution the main challenge.

UK in project mode

Engagement

Expectations of T+1 have improved, but short-term cost and operational impacts still look unavoidable.

The majority of firms are planning to change their fund dealing cycle as a direct result of T+1.

Brokers automating now

Automation

Third-party dependencies remain the critical factor – the success of T+1 will depend on the strength of the wider community.

Middle office, foreign exchange and funding will be the most affected functions.

The UK is making visible progress towards T+1, but the transition is moving from planning into execution pressure. The data shows growing industry engagement alongside persistent concerns over service providers, automation and deadline delivery.

How ready is the UK market for T+1 in practice? Where is momentum strongest, and which dependencies across confirmations, funding and service providers still create risk ahead of implementation?

The findings are drawn from the Q3 2025 Accelerated settlements: T+1 in the EU & UK pulse survey, based on feedback from more than 350 market participants across the two regions.

Produced in partnership with the T+1 Accelerated Settlement Taskforce, Depository Trust & Clearing Corporation (DTCC), Euroclear and Clearstream, and supported by International Securities Services Association (ISSA), European Fund and Asset Management Association (EFAMA), Investment Systems and Technology Consulting (ISITC), Asia Securities Industry & Financial Markets Association Asset Management Group (ASIFMA AMG), Investment Association (IA), European Central Securities Depositories Association (ECSDA) and European Banking Federation (EBF), the research highlights:

66% in project mode: the majority of the UK industry is now actively working on T+1, putting the market in a relatively strong position at this stage

39% of firms are already scheduled to miss the 2026 market deadline for T+0 confirmations

Less than one third trust service provider readiness: confidence in external support remains low across key requirements for implementation

Implementation in the UK is expected to cost less than US dollar (USD) 1 million for the majority of firms

More than 75% of brokers plan to increase automation across securities lending, corporate actions and standing settlement instructions (SSIs), while 85% are changing the fund dealing cycle