Premier League clubs are expected to approve proposals to open their summer transfer window on July 27 and close on October 5.
All 20 Premier League clubs had until 5pm on Monday to cast their vote on a plan to open the window the day after the season ends - and close 10 weeks later.
Importantly, clubs are also expected to agree to a two-week extension to the 10-week window, when Premier League and EFL clubs can continue to buy, sell or loan players from each other.
Top-flight clubs will not be able to carry out any transfers with each other - or any foreign clubs - during this two-week extension which will end on October 18.
The compromise solution allows EFL clubs a fortnight to carry out sales, purchases and in particular loans with Premier League clubs.
It also allows Premier League clubs to carry out the vast majority of their business before UEFA's October 6 deadline for Champions League and Europa League registrations.
A number of European leagues have already confirmed their summer window will close on October 5, with Premier League clubs keen to follow suit.
Last Thursday, Premier League shareholders meeting agreed to delay the decision until agreement was reached over the EFL extension.
Scottish transfer window opens until October 5
The Scottish transfer window will run from July 14 until midnight on October 5 after approval from FIFA.
The Scottish FA submitted the requested dates to the game's governing body after the Joint Response Group considered the most appropriate timeframe for clubs to conduct their transfer business amid the ongoing coronavirus crisis.