One year to T+1: How should firms get ready for October 2027?

With just a year to go before the final October 2027 deadline, the countdown is on for firms to transition to a next-day settlement timeline. Andrew Douglas, chair of the UK Accelerated Settlement Taskforce, lays out what the UK financial ecosystem must accomplish if it is to smoothly transition to T+1 next year.  The 11 October 2027 deadline is now within reach as we enter the final year before the UK, EU and Switzerland move to T+1 settlement. Time has flown by since we published the UK T+1 Implementation Plan in February 2025, and encouragingly the industry has made good progress, with our latest research showing that 83 per cent of firms are actively engaged in preparing for T+1. However, at this stage, readiness must now be the key focus, rather than just engagement. The next 12 months need to be about firms implementing and then testing their processes to ensure that they are T+1 compliant. For everyone, that means understanding both their own readiness and that of thei