The City of Londons Financial Services and Markets :: Essays Papers

The metropolis of capital of the United Kingdoms Financial Services and Markets1. The City of capital of the United Kingdoms pecuniary Services and MarketsThe City of capital of the United Kingdom is angiotensin-converting enzyme and only(a) of the institutions three tether financial piths, along with capital of Japan and New York, and is by far the largest in Europe. While New York and capital of Japan rely on very large domestic economies to fuel their business, Londons success can be attributed to its world-wide business. Major financial institutions and grocerys in the City include the Bank of England, the London Stock Exchange, Lloyds insurance market, and the London International Financial Futures and Options Exchange.1.1 Facts and figures of Britains financial serve industry&61623 There are more oversea banks in London than in any other city in the world 555 branches, subsidiaries and illustration offices at the end of February 1999.&61623 Financial services accoun t for almost 7 per cent of Britains Gross Domestic Product (GDP).&61623 Net overseas earnings of Britains financial sector reached a record 25,200 one million million in 1997.&61623 The London Stock Exchange is the largest market in the world for occupation foreign equities, accounting for 63 per cent of global turnover.&61623 London is one of the worlds three major international impound centres. Some 70 per cent of international bond trading in the Euromarket take place there.&61623 It has by far the biggest foreign exchange market in the world, handling about 32 per cent of worldwide dealing, and with an mean(a) daily turnover, which is more than that of New York, and Tokyo combined.&61623 It is one of the worlds largest international insurance markets, with a leading share of aviation and marine insurance.&61623 It is the largest fund management centre.&61623 It is the worlds most important centre for advice on privatisation.Supervision and regulation2. Finan cial markets2.1 The Stock ExchangeThis is one of the worlds oldest marketplaces for the buying and selling of shares, but its advanced trading systems mean it is also one of the most modern. It is the worlds leading marketplace for international shares more international companies choose to list in London than on any other exchange. It therefore plays a racy role in maintaining Londons position as a major financial centre.The main market is where most British and international shares are listed, while the Alternative Investment Market (AIM), established in 1995, is for younger and fast-growing businesses.