Is London the real financial capital of the world and New York distant second?

Discussion in 'Wall St. News' started by mahram, Dec 12, 2006.

Which is the financial capital of the world New York or London

  1. New York

    5 vote(s)
  2. london

    7 vote(s)
  1. The global foreign exchange market, easily the largest financial market, is dominated by London. More than half of the trades in the derivatives market are handled in London, which straddles the time zones between Asia and the U.S. And the trading rooms in the Square Mile, as the City of London financial district is known, are responsible for almost three-quarters of the trades in the secondary fixed-income markets.
    What New York can boast is the largest equity market, based on the market value of giant U.S. companies like Microsoft, Intel Corp., and Exxon Mobil. This heft has always made The New York Stock Exchange top dog among global stock markets. But using this to claim that New York is the world's most international financial center is akin to claiming that the New York Yankees are America's team. Yeah, right.{5967C688-8AEB-4279-9704-F5CF3B45C653}