In the latest update to the Z-Yen Global Financial Centre Index, London has maintained its number two position and remains the only European centre in the top ten.

Commenting on the index, Miles Celic, Chief Executive Officer, TheCityUK, said,

In the same week London was reported to have expanded its global market share of FX and derivatives trading [1], it has also maintained its number two spot in Z-Yen’s index of leading global financial centres [2]. This sends a strong positive message about London and the UK’s competitive advantage as a hub for financial and related professional services. In underlines our industries position as a world-class British success story.”

“Today’s index also sends a striking warning signal to Europe about the growing global dominance of Asian and North American financial centres. Europe boasts only three centres in the top 15, and of these, just one will be within the EU post-Brexit. With European economies facing significant economic headwinds, it is vital that policymakers keep a sharp weather eye on wider European competitiveness, and seek to maintain open and unfettered access to global capital markets through Europe’s primary international financial centre in the UK.”

Z-Yen Global Financial Centres Index 26 top 15

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Notes to editors
[1] Bank of International Settlements, Triennial Central Bank Survey of Foreign Exchange and Over-the-counter (OTC) Derivatives Markets in 2019, 17 September 2019.
[2] Z/YEN, Global Financial Centres Index 26, 18 September 2019 https://www.zyen.com/publications/public-reports/