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.”

WSJ Logo
Bank of New York Mellon Approached Northern Trust to Discuss Potential MergerExternal link

Bank of New York Mellon Approached Northern Trust to Discuss Potential Merger