UK, EU and Switzerland set out one-day settlement testing plan - Reuters
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The Bottom Line
The UK, EU, and Switzerland are jointly testing one-day settlement for financial transactions instead of the current two-day standard.
AI Summary
The UK, EU, and Switzerland have announced a joint plan to test one-day settlement for financial transactions, a significant acceleration from the current two-day standard used across most global markets. One-day settlement would reduce the time between when a trade is executed and when cash and securities actually change hands, lowering counterparty risk and freeing up capital more quickly for market participants. The three jurisdictions are collaborating on a testing phase to evaluate operational feasibility and identify any technical or regulatory hurdles before potential wider implementation. This initiative reflects a broader international push toward faster settlement cycles, with market infrastructure providers and regulators increasingly viewing one-day settlement as the next standard. The outcome of these tests could influence whether other major financial centers, including the US, adopt similar timelines.
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The three jurisdictions are collaborating on a testing phase to evaluate operational feasibility before potential wider implementation.
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