As firms prepare for the move to T+1 on 11 October 2027, we’re updating firms on our expectations and plans.
Jamie Bell, the FCA’s interim head of capital markets, took part in a fireside chat with Richard Monks of EY at the Accelerated Settlement Taskforce (AST) industry event, ‘The Journey to T+1 in the UK and Europe – will you be ready?’, hosted by EY on 16 July 2025.
The event marked almost 6 months since the AST published its T+1 UK Implementation plan[1]. It focused on market participants’ preparations for the UK move to T+1 on 11 October 2027.
A poll taken at the event indicated that approximately 87% of respondents had already identified the changes they need to make to prepare for T+1.
Jamie explained how initial engagement with market participants has been positive and we are largely satisfied with preparations with T+1 so far.
Other topics included:
- How automation is important for an efficient settlement process and market participants’ plans support this.
- While the FCA is playing a supportive role to the market, we will act if firms are not prepared for the October 2027 deadline.
In response to an audience question, Jamie described how the FCA cannot meet with all relevant authorised firms.
Our work should be seen as part of a broader market initiative to communicate about T+1, including by firms through their client engagement.