Canary Wharf: T+1 settlement emerged as the clearest shared commitment when EU and UK financial regulators met for the sixth time on 10 November 2026. Both sides agreed to keep coordinating towards a common move to one-day settlement of securities trades on 11 October 2027, according to a joint statement HM Treasury published on 11 November.
The meeting brought together the Commission’s financial services department, DG FISMA, and HM Treasury, whose directors general co-chaired the session. The European Central Bank, the EBA, ESMA, EIOPA and the Single Resolution Board attended. On the UK side, the Bank of England and the Financial Conduct Authority took part.
The shared date matters to every firm that trades across the Channel. A shift to T+1 settlement cuts the time between a trade and its final transfer from two business days to one. Misaligned deadlines would have forced brokers, custodians and asset managers to run two operating models at once.
Each jurisdiction will still follow its own legal process. The EU wrote the date into its Central Securities Depositories Regulation in 2025, while the UK relies on an industry-led roadmap backed by the authorities. Both routes to T+1 settlement now point at the same October 2027 target.
Banking policy also featured prominently. The Commission briefed on its July 2026 communication on EU banking competitiveness and its plan for a legislative package in early 2027. Officials discussed the securitisation framework review, Basel standards, cross-border resolution and open bank bail-in.
Market structure took up a further session. The Commission presented its Savings and Investments Union agenda, including the Market Integration and Supervision Package. The UK outlined its Financial Services Growth and Competitiveness Strategy and its Financial Services and Markets Bill.
Funds and private markets formed another strand. The UK extended its Temporary Marketing Permissions Regime, which avoids a cliff edge for EU money market funds, and updated partners on Overseas Funds Regime recognition. Both sides discussed private credit, including the Commission’s call for advice to the European Supervisory Authorities and the Bank of England’s exploratory scenario on private markets.
Digital finance and sustainability rounded out the talks. Officials compared approaches to artificial intelligence, stablecoins, cryptoassets and tokenisation, and pledged further work on transaction reporting and a consolidated tape. Faster T+1 settlement and better trade data go together, because both depend on clean, automated post-trade processes.
The statement is cautious in tone but significant in substance. Post-Brexit relations in finance rest on dialogue rather than market access, and the two sides agreed to stay in contact before the next meeting. For market participants, aligned T+1 settlement is now the most concrete test of that cooperation.
