Industry Groups Unveil Cross-Border Plan for T+1 Settlement Transition by 2027
A joint Testing & Readiness Plan for the transition to T+1 settlement has been published by three key industry groups. The UK Accelerated Settlement Taskforce (AST), the EU T+1 Industry Committee (IC), and the Swiss Securities Post Trade Council T+1 Task Force (SPTC) released the framework this month. It marks the first cross-jurisdictional effort covering the UK, EU, and Switzerland ahead of the 11 October 2027 deadline. The plan follows the creation of a joint Testing & Readiness Workstream by the AST and EU T+1 IC in December 2025. Its goal is to reduce risks before the T+1 go-live date by ensuring thorough testing across the entire settlement chain. The document highlights that success depends on every participant in the chain being prepared—not just individual firms.
The framework sets out a clear testing timeline and logistics structure. It recommends when providers should open test environments and how Financial Market Infrastructures (FMIs) should communicate access details. Automation is also stressed as critical for a smooth transition.
Testing is advised to begin immediately. The plan provides a structured approach for market participants and FMIs to assess their readiness well before the 2027 implementation date. The plan offers a coordinated strategy for firms across the UK, EU, and Switzerland to prepare for T+1 settlement. By encouraging early and widespread testing, it aims to prevent disruptions when the new system goes live. The next steps will involve market participants following the outlined timelines and automation guidelines.
