Globally, financial markets have been moving in droves towards a shorter settlement cycle, from two days after the execution of a trade to one day, known as the T+1 cycle.
According to the plan, UK cash equities will first be eligible for settlement on a T+1 cycle from 11 October 2027.
The AST has also set out a defined UK T+1 Code of Conduct (UK-TCC), which includes the scope, a timetable of recommended actions to bolster market practices and a set of expected behaviours that UK market participants must oblige by to meet their legislative obligations under the new regime.
ESMA r…
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