T+1 in Asia-Pacific in 2025: key findings

Asia-Pacific sees the long-term case for T+1 clearly, but the path to implementation remains operationally demanding. The data shows a region facing compressed funding windows, settlement discipline pressures and uneven readiness across the post-trade lifecycle. 

How much of Asia-Pacific's post-trade model needs to change to support T+1? Where are firms already engaged, and which dependencies across foreign exchange (FX), messaging and market infrastructure still threaten delivery?

The findings are based on input from 244 market participants across the industry and provide a regional view of how firms are preparing for accelerated settlement, where friction remains and what the transition could require in practice.

Produced in partnership with Depository Trust & Clearing Corporation (DTCC), FIS, Nasdaq, Standard Chartered and Society for Worldwide Interbank Financial Telecommunication (SWIFT), the research highlights:

• 74% of respondents are already working on T+1 in Asia-Pacific, but 54% of post-trade processing will still need to accelerate to comply

• 70% of settlement instructions must speed up: more than half of respondents expect to struggle with funding and fails discipline as settlement timelines compress

• 2028 is emerging as the likely transition year: firms see additional time as necessary to address market structure, sequencing and cross-border complexity

• 80% are looking to financial market infrastructures (FMIs) to lead: market infrastructures are seen as central to driving alignment across messaging standards, FX cycles and settlement timings

• Rule alignment remains critical: all foreign investors surveyed see harmonised rules across Asia as essential to reducing trade fails and operational friction