EUROPEAN UNION: EU T+1 Industry Task Force Comments on UK Report on Moving to T+1

Wednesday April 10 2024

On 9^th April 2024, the European T+1 Industry Task Force, comprised of industry associations including Futures Industry Association (FIA) and FIA European Principal Traders Association (FIA EPTA) welcomed the recent publication of a report by the UK Accelerated Settlement Task Force.

In an statement issued, the European T+1 Industry Task Force says:

• The European T+1 Industry Task Force welcomes the recent publication of a report by the Chair of the UK Accelerated Settlement Task Force, and in particular the statement that the ‘UK and other European jurisdictions should continue to explore opportunities for close collaboration to see if they can align their moves to T+1.’ The members of the European T+1 Industry Task Force emphasise the need for a coordinated approach between the EU/EEA, Switzerland, and the UK.
• The Task Force intends to conduct further analysis of how Europe might transition to T+1, including the development of a roadmap for adoption of T+1 in EU securities markets and a potential timeline that would allow enough time for firms to assess the changes they need to undertake, for the industry to conduct comprehensive testing, and for authorities to make the necessary regulatory changes.

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