A large majority of UK market participants are now preparing for the country’s move to T+1 settlement in October 2027, according to new data published in the UK T+1 Pulse Survey from The ValueExchange. The survey, conducted with the UK Accelerated Settlement Taskforce and sponsored by Euroclear and DTCC, indicates growing momentum across the post-trade ecosystem, though significant gaps remain.

The survey reports that 95 per cent of firms have begun preparing for the transition, and 60 per cent expect to meet the Taskforce’s mandatory T+0 allocation and confirmation targets set for December 2026. Awareness and planning appear to have increased sharply since early 2025.

Yet confidence in the wider ecosystem is noticeably weaker. Fewer than one-third of firms believe their service providers will be ready to support the required process changes, with investors the least assured. Dependencies on clients, custodians and CSDs remain the most frequently cited obstacles.

Impact expectations vary by segment. North American custodians and investors report average impact scores of 3.5 out of 5, while UK brokers anticipate the most disruption at 3.7.

Costs, automation, and ecosystem testing

The findings suggest that firms are prioritising budget alignment, automation, and third-party coordination as they approach the 2027 deadline. While 62 per cent expect to complete their T+1 work for under USD 500.000, the survey warns that complex operations may face higher costs.

Increased automation is a near-universal theme. More than three-quarters of brokers plan to boost automation in areas such as securities lending, SSIs, and corporate actions, seen as essential to meeting tighter post-trade timelines. Fund managers also expect operational change, with 85 per cent planning to adjust dealing cycles.

Third-party engagement remains a central issue, with 62 per cent highlighting client and counterparty alignment as critical to readiness.

Taskforce urges early action

Quotations from the Taskforce and market infrastructures underscore calls for accelerated testing, operational readiness and data hygiene, as well as alignment with parallel moves in the EU and Switzerland. All transition milestones set by the Taskforce point toward full adoption of T+1 settlement on 11 October 2027.