Question to the HM Treasury:

To ask His Majesty's Government what assessment they have made of whether to align new rules on reducing settlement times for trades with the United States or the European Union.

In December 2022 the Chancellor established the ‘Accelerated Settlement Taskforce’. This industry taskforce will examine the case for trades to be settled more quickly in the UK, such as moving to a ‘T+1’ standard settlement period. The full terms of reference can be found on gov.uk^[1]. The government looks forward to receiving the taskforce’s recommendations and setting out its next steps as appropriate.

[1] https://www.gov.uk/government/publications/accelerated-settlement-taskforce