LONDON, March 25 (Reuters) - Britain, the European Union

and Switzerland on Wednesday took a step towards introducing

one-day settlement of trades (T+1), as industry-led committees

issued a joint testing plan to banks, brokers and asset managers

ahead of the planned move next year.

The three jurisdictions have committed to move to T+1 on

October 11, 2027

* Financial market infrastructure firms including Euroclear,

Euronext and Clearstream have been encouraged to be available to

test one-day settlement over five windows in 2027

* The first testing period is February 1-12, 2027

* More than 50 market participants were consulted on the

testing plan, including JP Morgan, BlackRock ( BLK ), Morgan Stanley ( MS ),

Barclays ( BCS ) and UBS.

* The U.S. and Canada moved to a one-day settlement cycle in

2024