The City is a world leader in international finance and business
services.
Financial services generated a trade surplus of more than £43bn
in 2008. London's share of the UK’s gross value added was almost
19% in 2007.
The City of London Corporation is the organisation that supports
and promotes the City and financial services in the capital and
UK-wide. It helps sustain the needs of this vital industry and
position it for the future.
It is committed to serving the needs of international business
and maintaining an environment in which organisations and companies
from all over the world can play their part in financing global
trade and development.
It aims to ensure that the City continues to thrive and retain
its place as Europe's financial capital and its position at the
heart of the world’s financial markets.
The City is a vital asset to the British and European
economies. Its markets are innovative, competitive and
internationally focused. The best companies in the world do
business here because this is the place to do business
best.
- $1,679bn foreign exchange turnover each day in London (35%
global share)
- 22% of the global foreign equity market
- 70% of all eurobond turnover traded in London
- £263bn of worldwide premium insurance income in the UK
- 93m metal contracts per annum traded in London
- 1,050m contracts a year traded on London’s international
futures exchange Liffe
- £4.1trn total funds under management in the UK
- £1.7trn pension fund assets under management
- £43.3bn trade surplus generated by the UK financial services
sector
- 43% global share in 'over the counter' derivatives market
- 89% share of the EU Emissions Trading Scheme
- 75% of Fortune 500 companies have London offices
- 250 foreign banks in London
- 618 foreign companies listed on the London Stock Exchange
(LSE)
- 18% of cross-border lending arranged in the UK, more than any
other country
- 18% share of global hedge fund assets in the UK
- Leading western centre for Islamic finance, with six fully
Sharia compliant firms and 20 banks supplying Islamic financial
services
- 20% share in 2007 of global market in marine insurance, making
the UK the world leader
The City of London provides a dedicated service to the
Square Mile, from essential infrastructure maintenance to strategic
economic development. But it also provides a host of other services
of benefit to London and the country as a whole. The City of
London
- provides first class local government services for the Square
Mile, rated ‘Excellent’ by the Government
- promotes London as the world leader in international finance
and business services, particularly through its Lord Mayor
- is working with partners to establish a strong single voice for
the UK financial services industry
- protects City interests in Westminster, Whitehall and
Brussels
- tackles social exclusion in partnership with neighbouring
boroughs
- welcomes world leaders on behalf of the UK Government
- provides advice and assistance to occupiers to obtain and
retain the buildings they need
- is one of the most significant art sponsors in the UK,
including the Barbican Centre, the Guildhall School of Music &
Drama and the Guildhall Art Gallery
- operates as the City of London Police authority
- works as port health authority for the River Thames
- maintains over 10,000 acres (4,047 hectares) of open space in
and around London, including Epping Forest and Hampstead Heath
- runs Smithfield, Billingsgate and Spitalfields markets
- runs London’s largest grant-giving charity, the City Bridge
Trust
- provides affordable residential housing across London
- provides facilities for the Central Criminal Court at the Old
Bailey