Industry roadmap highlights multi-phase testing, weekend simulations and heavy reliance on coordination across CSDs, CCPs and custodians to avoid settlement disruption.
As the clock begins to tick on the countdown to T+1 settlement in the UK, EU and Switzerland, market experts from the UK Accelerated Settlement Taskforce , Duco, Symphony , and Taskize, highlight the importance of automation and early preparation ahead of the shift.
With ValueExchange research in April revealing that 26% of firms surveyed indicated they would miss the target date, the UK Accelerated Settlement Taskforce is urging firms who have not begun preparing to do so now, reiterating that “rewards will be meaningful”.
Taskforce states that the UK, EU and other European jurisdictions should align on T+1 with a regional timeframe possibly overriding the timeline.
Letter from UK Accelerated Settlement Taskforce chair says lessons need to be learned from the US move in May, with final report delayed to Q1, as previously revealed by The TRADE's sister publication Global Custodian.