Trading

Gary Gensler tells UK to set firm T+1 transition deadline

The UK is looking to make the shift to T+1 settlement by 2027

Gensler said the move to T+1 needed to involve all market participants ANDREW CABALLERO-REYNOLDS/AFP via Getty Images
Gensler said the move to T+1 needed to involve all market participants ANDREW CABALLERO-REYNOLDS/AFP via Getty Images

Securities and Exchange Commission chair Gary Gensler said the UK should set a firm deadline as it looks to shift to T+1 settlement.

“Just set a day and stick with it,” he told a UK Finance conference on 20 June. “This is a collective action problem. If some market participants think this date may not be real, they may not budget for it.”

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