UK T+1 in Q1 2025: key findings

The UK's move to T+1 is creating a clear execution challenge well ahead of the 2027 deadline. The data shows strong market engagement, but practical readiness remains uneven across allocations, confirmations, funding and operational planning. 

How prepared is the UK financial community for accelerated settlement in practice? Which deadlines are already creating pressure, and where do firms still need to accelerate activity to avoid falling behind?

The findings are based on the Q1 2025 Pulse Survey, which gathered input from more than 550 financial professionals and covers market guidelines, technology recommendations, risk factors, expected costs and key dates linked to UK T+1 compliance.

Produced in partnership with the UK Accelerated Settlement Taskforce and supported by Depository Trust & Clearing Corporation (DTCC), Euroclear and leading industry associations, the research highlights:

• Up to 26% of firms are already scheduled to miss the 2026 market deadline for T+0 allocations

• 35% do not know what UK T+1 means: understanding remains weakest in areas such as funding and valuations, showing that engagement has not yet translated into full preparedness

• 29% must accelerate before December 2026: allocations and confirmations need to move faster, rising to more than 30% for Asian investors and smaller firms ahead of October 2027

• 56% expect the UK shift to be easier than the US: many firms believe earlier middle- and back-office investment from US T+1 will support the UK transition

• 49% of project activity is process transformation: firms are focusing less on theory and more on redesigning workflows to make T+1 viable in practice