UK Seeks Faster Trade Settlement Time to Catch Up With Peers (4)

The UK will follow other major financial markets in halving the time it takes to settle securities transactions, the nation’s Treasury said, as it looks to catch up with a change that is transforming the global industry.

The nation should move to so-called T+1 no later than the end of 2027, the Treasury said in a statement Thursday. The US, Canada and Mexico are all poised to make the shift in May, and the Securities and Exchange Commission’s chair has urged Europe to consider following suit. The UK said it would try to align the move with the European Union ...