Draft Recommendations for T+1 Settlement Transition

This document is a Draft Recommendations Report prepared by the Accelerated Settlement Taskforce (AST) regarding the transition to T+1 settlement in the UK capital markets. It outlines the recommendations developed by a Technical Group (TGT) consisting of over 450 participants from more than 110 firms. The report details the critical operational changes necessary for a successful transition to T+1, including the scope of instruments affected and the categorization of recommendations into Principal and Additional. Principal recommendations emphasize the importance of automation to enhance efficiency and reduce manual processing, while Additional recommendations address environmental issues that could optimize the transition. The report also highlights the need for compliance with a forthcoming Post-trade Code of Conduct to ensure all market participants adhere to the new operational standards. The recommendations are open for consultation until the end of October 2024, with the final report expected by the end of 2024, providing clarity on implementation timelines.