T+1 in Asia - making global settlements work in Asia: report

How global settlement change is increasing pressure on Asia’s post-trade operating model.

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As T+1 settlement accelerates globally, Asian firms face growing pressure from legacy infrastructure, cross-border dependencies and tighter trade-date processing demands. This report examines where the region is most exposed and what will be required to support a more resilient settlement model.

Asia legacy platforms

Technology

Asia has the highest level of legacy back-office technology globally, with 16% of systems approaching end-of-life within three years.

The combination of legacy infrastructure and faster settlement cycles is creating a compounding operational risk.

North America dependency

Exposure

More institutional trades from Asia leave the region than remain within it — creating direct exposure to North American settlement cycle changes.

T+1 in North America is not a distant market change for Asian firms — it is already reshaping daily operations.

Trade date pressure

Operations

With the vast majority of processing moving to trade date, the time available is limited — intelligent automation is becoming urgent.

The window to adapt before the pressure becomes unmanageable is narrowing.

Global settlement change is creating a disproportionate challenge for Asia. As more activity moves to a trade-date basis and cross-border dependencies increase, existing post-trade infrastructure is coming under greater pressure from speed, complexity and external market exposure.

How prepared is Asia for a world of faster global settlement? What happens when legacy platforms and cross-border processing demands collide with tighter operational timelines?

The report examines how T+1 and broader settlement acceleration are affecting Asian post-trade operations. It looks at the region's exposure to North American markets, the age of existing back-office platforms and the operational strain created by compressed processing windows.

The research, sponsored by Digital Asset and co-written with SWIFT, highlights:

40% of platforms older than 10 years: Asia has the highest level of legacy back-office technology globally, with 16% of systems approaching end-of-life in the next three years

50% of cross-border settlements linked to North America: half of Asian cross-border settlements relate to North American securities, exceeding the 45% that remain within Asia

90% of processing moving to trade date: compressed settlement timelines are shifting most trade processing onto trade date, increasing pressure on existing operating models