Published by Global Banking & Finance Review®
Posted on March 25, 2026
1 min readLast updated: March 25, 2026
Add as preferred source on Google
The UK, EU and Switzerland have unveiled a joint testing plan for transitioning to a one-day (T+1) settlement cycle, with industry participants invited to test over five 2027 windows ahead of the planned go-live on October 11, 2027.
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 firms including Euroclear, Euronext and Clearstream have been encouraged to be available to test one-day settlement over five windows in 2027
The first testing period is February 1-12, 2027
More than 50 market participants were consulted on the testing plan, including JP Morgan, BlackRock, Morgan Stanley, Barclays and UBS.
The U.S. and Canada moved to a one-day settlement cycle in 2024
(Reporting by Phoebe Seers. Editing by Mark Potter)
T+1 settlement refers to settling trades one business day after the transaction date, reducing the previous settlement cycle.
The UK, EU, and Switzerland plan to implement one-day (T+1) settlement on October 11, 2027.
The industry-led testing plan helps banks, brokers, and asset managers prepare for the transition to T+1 settlement.
Over 50 market participants, including JP Morgan, BlackRock, Morgan Stanley, Barclays, and UBS, have been consulted.
The initial testing period is scheduled for February 1-12, 2027.
Explore more articles in the Finance category
