‘All hands on deck’ as banks rush to prepare for T+1

Trading

Across the market, firms are gearing up for a revolution in settlement times

Hundreds of staff are on call for the move to T+1, but will it be enough? Photo: Getty Images/Science Photo Library RF

Banks are rushing to get ahead of a major change in how trades are settled, roping in extra staff and resources to make sure they are ready.

The move to T+1 settlement in the US — where trades must be settled within a day of the transaction — is still nine months away, but it is set to be one of the most significant changes in markets next year, according to experts.

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