Posted in Financial Centre, LSE, London, London Stock Exchange
In a survey of financial executives by the Global Financial Centres Index, London scored well ahead of its rivals, and even extended its lead.
London did better than New York on an array of topics, including personnel, business environment, market access, facilities and competitiveness.
The City scored 806 out of 1000, compared with nearest rival New York’s 787. Trailing behind came Hong Kong, Singapore, Zurich and Frankfurt.
Again London is reaffirmed as the world’s financial capital.
Posted in Borsa Italiana, Clara Furse, LSE, London Stock Exchange, TradElect
The London Stock Exchange, which has seen almost a half of its shares snapped up by two rival Arab Royal families, has announced that the summer’s volatility in share trading during the credit crunch in financial markets has boosted growth in the booming exchange’s business.
Chief executive Clara Furse said the merger with Borsa Italiana should be completed by October 1st. “The exchange is very close to completing the merger with Borsa Italiana, having secured overwhelming support from both sets of shareholders. We are focused on implementing our merger plans which will lead to accelerated growth for the enlarged group.
“The Exchange continues to make excellent progress and has delivered a very strong trading performance for the year to date. In particular, the Sets electronic order book achieved enormous volume growth over the summer, as increased market volatility during the period added to strong growth already being facilitated by the new TradElect platform, in conjunction with customer and other exchange initiatives.”
In the past five months alone, the number of deals done on the Sets electronic trading system has grown by 75 percent over the same period a year ago, to around 551,000 a day. This smashes the 480,000 target set for the full year ending next March.
