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Tokenovate: 83% expect to meet T+1 deadline but only 32% are fully prepared
11 September 2026 UK
Image: ikkilostd/stock.adobe.com
UK post-trade technology firm Tokenovate reports that 83 per cent of UK post-trade professionals say their firms are prepared for the October 2027 T+1 settlement deadline, but only 32 per cent describe operations as fully prepared today.
A survey of 250 senior post-trade professionals in the UK reveals a market where confidence is running ahead of operational readiness, with only 41 per cent who say their combined T+1 readiness and post-trade transformation programme is fully funded, according to the report.
The report also states respondents expect widespread UK adoption of T+0 or atomic settlement within an average of 3.7 years, however almost every firm still relies significantly on manual processing somewhere in the post-trade lifecycle including allocation management, reconciliation, and trade confirmation.
Further, 80 per cent of respondents say dependencies on external counterparties and market infrastructure providers significantly or severely limit modernisation, and 88 per cent cite data fragmentation as a significant challenge to post-trade efficiency.
Trapped liquidity is cited as a material burden, with 98 per cent of firms regarding capital tied up as a result of slow or fragmented settlement as a material cost or risk to their organisations.
The report also lists real-time settlement continues to move into planning — 79 per cent have T+0 or real-time settlement on their agendas — as well as tokenised settlement moving into piloting, with 63 per cent of firms citing live or piloting tokenised settlement.
Richard Baker, founder and CEO of Tokenovate, comments: “Confidence around T+1 is encouraging, but being on track is not the same as being operationally ready.”
Baker furthers: “Firms need to make sure the work they do for T+1 also prepares them for what follows. That starts with consistent, standardised data, so trades are represented in the same way across systems and counterparties. If we get that right, the UK has a real opportunity to lead.”
A survey of 250 senior post-trade professionals in the UK reveals a market where confidence is running ahead of operational readiness, with only 41 per cent who say their combined T+1 readiness and post-trade transformation programme is fully funded, according to the report.
The report also states respondents expect widespread UK adoption of T+0 or atomic settlement within an average of 3.7 years, however almost every firm still relies significantly on manual processing somewhere in the post-trade lifecycle including allocation management, reconciliation, and trade confirmation.
Further, 80 per cent of respondents say dependencies on external counterparties and market infrastructure providers significantly or severely limit modernisation, and 88 per cent cite data fragmentation as a significant challenge to post-trade efficiency.
Trapped liquidity is cited as a material burden, with 98 per cent of firms regarding capital tied up as a result of slow or fragmented settlement as a material cost or risk to their organisations.
The report also lists real-time settlement continues to move into planning — 79 per cent have T+0 or real-time settlement on their agendas — as well as tokenised settlement moving into piloting, with 63 per cent of firms citing live or piloting tokenised settlement.
Richard Baker, founder and CEO of Tokenovate, comments: “Confidence around T+1 is encouraging, but being on track is not the same as being operationally ready.”
Baker furthers: “Firms need to make sure the work they do for T+1 also prepares them for what follows. That starts with consistent, standardised data, so trades are represented in the same way across systems and counterparties. If we get that right, the UK has a real opportunity to lead.”
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