A survey of London’s financial market infrastructure has highlighted the need to remain open to competition at all costs and reports that City players have no fear of international ownership of this infrastructure – as long as it is all regulated here.
The survey, released today, concentrates on market infrastructure issues. But it reports that many respondents raised concerns not only about the tax environment deteriorating but also about London's aging public transport system.
Maintaining a full set of markets and institutions and retaining the independent Financial Services Authority were also seen as important factors, especially as a new legislative landscape unfurled and competition intensified.
The report, The Competitive Impact of London’s Financial Market Infrastructure, is published by the City of London Corporation under its remit to commission independent research as a tool to analyse factors driving the UK-based financial services industry.
Key findings include the new phenomena of “server cluster” as the City players seek to site their computers ever closer to key data-streams in order to win nanosecond advantage. The report also includes a detailed historical picture of how the City's financial infrastructure developed, particularly since “Big Bang” in 1986.
Full report
Executive summary
© Graham Bishop
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