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Financial centre

A financial centre is a [global city] that is a [company] and [business] [hub] , as well as being home to many world famous [bank] s and/or [stock exchange] s.

An international financial centre is a non-specific term of reference usually meant to designate a [city] as a major participant in international financial markets for the trading of cross-border assets. An international financial centre (sometimes abbreviated to IFC ) will usually have at least one significant [stock market] as well as other financial markets, as well as being subject to a significant presence of international [bank] s.

According to the WEF (World Economic Forum) [London] in the [United Kingdom] has now replaced [Wall Street] as the centre of the financial world, despite concerns over confidence in both American and European markets due to the [recession] .

Global Financial Centres Index
As of 2009, the top ten financial centres according to the [Global Financial Centres Index] in the world are:

1 [London]
2 [New York City]
3 [Hong Kong]
4 [Singapore]
5 [Shenzhen]
6 [Zurich]
7 [Tokyo]
8 [Chicago]
9 [Geneva]
10 [Shanghai]

The Global Financial Centres Index is published by the [City of London Corporation] and is updated annually.

Criticism
This study, is given by the city of [London] . The [financial crisis of 2009] has also highlighted the [United Kingdom] 's dependence on the financial sector as it and the [United States] have been the most dramatically hit, [France] and [Germany] have not had to intervene in the financial sector anywhere near as much as the UK, as their financial sectors are much smaller.

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