ISITC TALKTIME: T+1 Report – Is it fit for purpose?

ISITC TALKTIME: T+1 Report – Is it fit for purpose?

Posted on February 27, 2025 by Cathy Wright

TalkTime Podcast: T+1 Report – Is it fit for purpose?

In February 2025, the UK T+1 Task Force published its final report and recommendations for the implementation of T+1 in the UK. This podcast is part of a series discussing all things related to the move to T+1 settlement by the capital markets globally.

In this ISITC TalkTime podcast, Gary Wright, Director of Policy, ISITC Europe and Anthony Gandy, Director of Academic Research, ISITC Europe, critic and discuss; Is the report fit for purpose?

The podcast is an interesting run through of the report, providing unique, independent observations. Gary and Tony raise their concerns from an overall industry perspective on

• industry wide implementation
• governance of the changes required by different firms
• cost implications for
  • firms operating within the Capital Markets
  • Investors
• the UK Code of Conduct

The podcast delves into some of the important decisions many firms will have to make, during this calendar year and beyond, prior to the UK T+1 implementation date of the 11th October 2027. Including some of the key areas many firms will have to allocate budgets to.

In 2022/23 ISITC Europe conducted an independent in-depth analysis of the global impact of a move to T+1 accelerated trade settlement, which was commissioned by the Swift Institute. The task was to analyse the effects on both buy and sell side firms and investors in the major global markets of the USA moving to T+1 in 2024. In addition, ISITC Europe has been part of the UK, Accelerated Settlement Taskforce since its inception, and has continued to analyse, the ongoing impact as various markets have moved to T+1.

Both Gary and Tony were an integral part of the team that conducted this research, along with Tony Freeman, Director of ISITC Europe, plus Professor Mark Durkin and Professor Daniel Bropy, who were both at Ulster University Business School at the time. So it was as informed analysts that they undertook a deep dive analysis into the T+1 report and its recommendations. Measuring the information in the report with their own research and were able to make a detailed assessment and draw conclusions.

We hope that listeners will be engaged by this discussion and find their deliberations informative and useful.

Viewing time: 32 mins