Across Asia-Pacific, the move to T+1 is not just a technical change, it is a fundamental shift that will test the foundations of post-trade. Shorter settlement cycles are compressing already tight operational windows, exposing the limits of legacy infrastructure and manual workflows. For financial institutions, this is no longer a back-office issue; it is a business priority.
With the EU and UK set to move to T+1 in 2027 and Asia-Pacific markets such as Hong Kong, Singapore, and Japan expected to follow soon after, the timeline for change is rapidly approaching. Firms cannot afford to keep patching outdated systems together; the industry must move decisively from manual, analogue-based processes to digital, scalable models.
Transformation is more than just technology
At Broadridge, we have led multiple transformation journeys for clients across Asia-Pacific, helping them move away from outdated, manual post-trade processes to modern, digital operating models. Through this work, what we have learnt is clear: technology alone does not guarantee success.
Change is never simple, and lasting transformation is not achieved by just delivering the final implementation. It is enabled through partnership, where expertise and experiences are shared, old assumptions are questioned, and support continues long after the system is launched.
Nowhere is this clearer than in our post-trade work across capital markets, where clients often face end-of-life technology, outdated processes, and low STP rates. With core legacy back-office technology deeply embedded in the heart of financial-institution ecosystems, replacement can be extremely difficult, expensive, and operationally risky. Limited discretionary budgets and increasing pressure to maintain or improve margins mean that many firms have resorted to tactical workarounds rather than strategically addressing core systems, instead prioritising mandatory or regulatory changes and new-revenue initiatives.
Rethinking the operating model
The rapid advancement of technology over the past decade means many firms now operate with polarised technology ecosystems with pockets of next-generation tools integrated with legacy monolithic post-trade systems. When firms make the strategic decision to address their core infrastructure, much more needs to be considered than simply replacing the technology itself.
According to the 2025 Broadridge Digital Transformation & Next Gen Technology study, 40% of respondents in Asia-Pacific felt their firm’s technology strategy is not moving at a fast enough pace. A further 36% of respondents in Asia-Pacific said that the biggest impediments to digitalisation were balancing innovation with conducting day to day business, followed by regulation and compliance concerns (31%) and growing cyber-security risk (31%).
It is common for even leading financial institutions to underestimate the cultural, regulatory, and operational hurdles standing in the way of digitisation.
Overcoming these hurdles is critical for technology programmes to succeed. Many clients we work with face this exact challenge. It is not uncommon for post-trade platforms to be 15-20 years old, with bespoke updates and enhancements patched on over time, creating a tangled web of legacy technology.
In initial conversations, the client’s request often sounds straightforward: deliver a best-in-class, end-to-end solution. Quickly, both sides realise that the real opportunity — and the real challenge — lies in rethinking and re-engineering the entire operating model. With T+1 no longer a far-off regulatory deadline, this creates a new level of urgency and highlights the importance of using technology programmes as catalysts for deep, strategic reinvention.
While technology matters, what truly sets service providers apart is their ability to act as trusted partners. Broadridge’s approach is to treat consultancy and ongoing engagement as mission-critical: the software is only as good as the synergy we achieve working together with our clients.
Turning strategy into action
Before any project work can begin at a bank, we insist on sitting down with the client’s operations team and other key stakeholders to better understand the full scale of the challenges facing the organisation. This is a very tactical play, as operations executives have more visibility than anybody else into the intricacies of the bank’s technology, including its post-trade systems – and most importantly - they know about all the critical issues.
From there, we work side by side with the bank—mapping gaps, benchmarking best practices, and stress-testing assumptions.
Some conversations are uncomfortable, especially with long-serving staff deeply invested in unfit legacy systems, but those discussions are essential in driving alignment and building organisational buy-in. The risk of not having these conversations at the very start is that bad practices are not fixed and are simply replicated on new systems, often leading to unnecessary expensive bespoke customisation and longer-term discomfort. As a leading global technology provider to both global and regional financial institutions, Broadridge has a unique vantage point to advise clients on industry best practice, avoid additional spend on inefficient bespoke builds for out-of-date legacy processes, and the power of cost mutualisation across our extensive client base.
At Broadridge, we deliberately combine technology expertise with real industry experience. Having led bank operations at two global institutions and worked over 20 years in operations, I know the value of tough but constructive conversations ahead of implementations. Budgets are always tight, legacy manual workarounds are often layered on top of older inefficient processes, inter-system connectivity is complex, and key decision-makers may not have full visibility into how processes actually work. That is why it is vital to take a holistic end-to-end view of the operating model, redesign ahead of technology change, and secure senior management buy-in.
The last one can often be the most difficult. We find that the best way to help with this for our clients is using effective KPIs and KRIs that remove the opinion and emotion from the debate. In operations, Straight-Through-Processing (STP) is one of the easiest KPIs to track the workflow effectiveness and optimal operating models. With all our clients trade data, Broadridge is in a unique position to help our clients easily compare their STP rates against their industry peers and continuously suggest process improvements and efficiency gains – some using technology solutions, but others from changing their use of the technology.
It is not uncommon to see institutions using solutions that support STP (for example, trade matching and confirmations) but still manually checking data before trade submission. Identifying and resolving such inefficiencies early helps lay the foundation for effective re- engineering and a smoother onboarding process.
Honest dialogue leads to real change
One of the biggest takeaways from all our client engagements is that honesty is vital. Banks that fail to address low STP rates through technology change and process reengineering will face higher settlement fails under T+1, with financial and reputational consequences. As businesses grow and trade volumes increase, this problem will compound quickly and become increasingly expensive to mitigate.
Transparency is not always easy, but it is crucial for our client success and for building partnerships that deliver real value. By confronting challenges together, we help institutions not only implement change but embrace it by re-thinking structures, redefining requirements, and aligning with global best practice.
Getting the client over the finish line
Full business-requirements gathering, detailed gap analysis, and establishing effective joint project-delivery teams are vital components of any technology change, especially in post-trade, where there are numerous inter-system dependencies and complex workflows. Taking the time to align with all relevant SMEs and stakeholders at the outset sets the tone for project success and often determines the overall outcome.
Transparent and regular communication is essential. Ensuring all stakeholders know exactly what needs to happen and by when, reduces the risk of redefinition midway through a project, minimises delays, and prevents unwanted cost escalation.
By clearly defining KPIs, updating policies and procedures, setting project milestones, and establishing robust governance protocols, we help clients navigate complex processes such as product rationalisation, streamlining cross-border operations, and eliminating manual workflows. Broadridge’s broad post-trade capabilities also support clients in consolidating service providers and transitioning away from multiple standalone systems with fragmented touchpoints toward more integrated, user-friendly solutions.
In terms of technology, Broadridge’s post-trade processing platform supports multi-asset, real- time transaction processing and record-keeping for international securities — including equities, fixed income, and derivatives. The solution is designed to automate the trade lifecycle from capture through settlement, simplifying operating models and helping clients achieve major cost and efficiency synergies.
Building trust through these projects lays the foundation for lasting relationships. Over the long term, our clients depend on Broadridge for guidance on a broad spectrum of industry developments, from digital transformation and the rise of AI to evolving regulatory requirements. Leveraging our cost-mutualisation model, we continue to support clients across Asia-Pacific in navigating upcoming regulatory reforms and standardisation initiatives such as the rollout of ISO 20022, HK Dual Counter, JASDEC 2025, and Australia’s CHESS replacement — helping them do so efficiently and effectively.
The bigger picture
For leaders evaluating their own post-trade strategy, the lesson is simple: true transformation happens through partnership. Technology may be the engine, but trust, expertise, and collaboration are the fuel that sustain a long-term partnership.
Firms that attempt to “buy and bolt on” technology for T+1 may solve today’s problem temporarily, but risk being caught off guard by the next shift. By contrast, those who invest in strategic partnerships build resilience, scalability, and a competitive edge that lasts.
In Asia-Pacific, we are at a turning point. T+1 will not be the last disruption to the industry. But with the right partnerships, firms can not only navigate change seamlessly, they can turn it into a driver of growth.