Britain to follow U.S. move to halve 在庫／株 解決／入植地 time
By Huw Jones
LONDON, March 28 (Reuters) - Britain's 株式市場s should halve the time it takes to settle a 株 貿易（する） to stay 競争の激しい and 完全にする this 転換 by the end of 2027, a 報告（する）／憶測 recommended on Thursday, a step the UK 政府 has 支援するd to play catch up with 塀で囲む Street.
交流s in the 部隊d 明言する／公表するs, Canada and Mexico move to 解決／入植地 within one 商売／仕事 day - dubbed T+1 - at the end of May to 削減（する） 危険, catching up with India and 中国, meaning 55% of 全世界の 公正，普通株主権 markets will operate on T+1 or いっそう少なく by the end of this year.
This is piling 圧力 on Britain and 大陸の Europe to follow 控訴. The European Union has already said it would do so, though with no date 始める，決める. Switzerland will have little choice but to switch 同様に.
Britain's 財政／金融 省 （売買）手数料，委託（する）／委員会／権限d the 報告（する）／憶測 into cutting 解決／入植地 times for 貿易（する）s on the London 在庫／株 交流 and other 壇・綱領・公約s. This would 減ずる the time it takes to settle 貿易（する）s for cash to one 商売／仕事 day from two 現在／一般に.
The 加速するd 解決／入植地 Taskforce, which produced the 報告（する）／憶測, 設立する there was 産業 合意 to move to T+1 given that 増加するing efficiency is 必須の to 持続する international competitiveness.
Taskforce 議長，司会を務める Charlie Geffen said 政府 and regulators needed to 押し進める for a 連係させた move to T+1 given that it will mean "重要な 投資", but also bring cost 貯金 and 減ずる 危険.
"It just makes sense to have a 時刻表／予定表 and a 最終期限. If you don't have timelines, stuff doesn't get done," Geffen told Reuters.
"Learning the lessons from the 部隊d 明言する／公表するs is going to be important. I 嫌疑者，容疑者／疑う there will be some teething 問題／発行するs to 解決する."
European 資産 経営者／支配人s have already complained about not having enough time to find dollars to 支払う／賃金 for U.S. 在庫／株s under the new 解決／入植地 政権 which comes into 影響 in the 部隊d 明言する／公表するs at the end of May.
Switching is 高くつく／犠牲の大きい. In the 報告（する）／憶測, 顧問s Accenture 概算の that in relation to the T+1 switch in the U.S., total 投資 of $30-50 million a year for three years would be needed by each large 財政上の 会社／堅い to make the switch.
Geffen recommended setting up a technical group to 報告（する）／憶測 by year-end on 操作の changes that will cost millions of 続けざまに猛撃するs, such as 支援する office automation at banks and 資産 経営者／支配人s. The 産業 should 完全にする this by the end of 2025 to get systems ready.
The technical group would decide on a 最終期限 for a 委任統治（領）d switch to T+1 which would be the end of 2027 at the 最新の.
"I am delighted to 確認する that we are 受託するing all of the 推薦s that the 報告（する）／憶測 makes to the 政府," Britain's 財政上の services 大臣 Bim Afolami said in a 共同の 声明 with the Taskforce.
在庫／株s （不足などを）補う 42% the 8.8 一兆 続けざまに猛撃するs ($11.10 一兆) of 資産s managed out of London, with 32% of this in North American 在庫／株s and 19% in European 在庫／株s.
ALIGNMENT OR GO IT ALONE?
The 在庫／株 解決／入植地 switch 追加するs to a whole string of regulatory changes the UK 財政／金融 産業 has 直面するd 地位，任命する-Brexit.
Geffen said it had been difficult to 達成する 合意 on the pace at which Britain should move to T+1, with some wanting EU alignment, while others want the mismatch with 塀で囲む Street to be as short as possible.
Britain, the EU and other European 裁判権s should try to work together to try to 提携させる the 転換s to T+1, the 報告（する）／憶測 said.
EU regulators have 公式文書，認めるd that the 圏 has 多重の 在庫／株 交流s, and （疑いを）晴らすing and 解決／入植地 houses, making a switch to T+1 more 複雑にするd than for a 選び出す／独身 裁判権.
"If the EU or other European 裁判権s commit to a 移行 date to T+1 the UK should consider whether it wishes to 提携させる with that timeline," the 報告（する）／憶測 said.
"However if that cannot be 達成するd within a suitable timescale the UK should proceed in any event."
Jos Dijsselhof, CEO of SIX Group, which operates the Zurich 在庫／株 交流 and the Madrid bourse in the EU, said he would like to see Britain, the EU and Switzerland 可決する・採択する T+1 at the same time. "We don´t see much 利益s from everybody going 個々に," he told Reuters.
Whether 会社／堅いs that want to move 早期に to T+1 would be 許すd to do so after 2025 is an 問題／発行する the technical group would work through, Geffen said.
The 報告（する）／憶測 also said the technical group should consider a move at a later date to instant 解決／入植地 or T+0, which was "technically possible today". ($1 = 0.7925 続けざまに猛撃するs) (報告（する）／憶測ing by Huw Jones, 付加 報告（する）／憶測ing by Pablo Mayo Cerqueiro, editing by Jane Merriman)
