City of London
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m the Pensions Act was introduced in 1995 to increase confidence in the security of the funds.institutions.origin of the London Stock Exchange goes back to the coffee houses of the 17th century, where those who those who wished to invest or raise money bought and sold shares of joint-stock companies. Brokers later opened their own subscription rooms and in 1773 this was named the Stock Exchange. During the 19th century the Stock Exchange developed as the demand for capitol grew with Britain's Industrial Revolution. The Exchange also financed the construction of railways, bridges and dams across the world. Today it is one of a number of highly organized financial markets of the City. It provides trading platform and the means of raising capital for British and foreign companies, Government securities, eurobonds and depository receipts. Official list is the Exchanges main market, while AIM, the Exchanges new market is for smaller rapidly growing companies. It opened in 1995. Companies which apply for a listing on the Exchange must provide a full picture of their operations, i9ncluding their financial record, management and business prospects. If a company wants to join AIM the rules are less strict. Such companies include multimedia and high technology business.the Exchange has moved away from face-to-face dealing on the trading floor to system of dealing from member firms' offices. The quotations are displayed on electronic screen. Before 1986 only British companies were allowed to operate. In 1986 deregulation, known as the Big Bang allowed any foreign financial institution to participate in the London money market. Other changes involved a system under which negotiated commissions were allowed instead of fixed rates and dealers are permitted to trade in securities both as principals and as agents. Traditional retail stockbrokers are facing growing competition from operations running by large banks and building societies.Exchange has its administrative center in London, with regional offices in Belfast, Birmingham, Glasgow, Leads and Manchester.companies raise new capital on the London money market. The quiet-edged market, that is the market of Government shares, allows the Government to raise money by issuing stock through the Bank of England.Exchanges now going through a further period of change which has been described as the most significant period since The Big Bang.markets.'s money markets channel wholesale short-term funds between lenders and borrows. These operations are conducted by all the major banks and financial institutions. The Bank of England regulates the market. There is no physical market place; negotiations are conducted mostly by telephone or through automated dealing systems. The main financial instruments are CDs (Certificates of Deposit), bills of exchange, Treasury and local authority bills and short-term Government stocks.Futures and Traded Options.futures are legal contracts for the purchase or the sale of financial products, on a specified future date at a price agreed in the present. Trading and financial futures developed out of the numerous futures markets in commodities which originate from London's position as a port and from Britain's need to import food and raw material.are contracts which give the right to buy or sell financial instruments or physical commodities for a stated period at a predetermined price.futures and options are traded on the London International Futures and Option Exchange (LIFFE) which was established in 1982..Exchangesremains the principal international center for transactions in a large number of commodities, though the consignments themselves never pass through the ports of Britain. The need for close links with sources of finance, shipping and insurance services often determines the locations of these markets in the City of London. There are futures markets in cocoa, coffee, grains, rubber, sugar, pigmeat, potatoes there., oil for heating and petroleum are traded through the International Petroleum Exchange, Europe's only energy futures exchange., lead, zinc, nickel, aluminum, aluminum alloys and tin are treaded through the London Metal Exchange (LME), the world's largest non-ferrous base metals exchange.Baltic Exchange is the world's leading international shipping exchange. It contributed to 292 Mln pounds in net overseas earnings to Britain's balance of payments in 1995. Baltic dealers handle more than a half the world's bulk cargo, transportation of oil, ore, coal and grain. All Britain's agricultural futures markets are operated from the Baltic Exchange and physical trading and commodities is also carried out there.
. The main branches of the Citys development
.City houses the London Stock Exchange (shares and bonds), Lloyd's of London (insurance) and the Bank of England. There are over 500 banks with offices in the City, with established leads in areas such as Eurobonds, foreign exchange markets, energy futures and global insurance. The Alternative Investment Market has been a growth market over the past decade, allowing London to also expand as an international equity centre for smaller firms.1991 Canary Wharf a few miles east of the City in Tower Hamlets, has become a second centre for London's financial services industry and now houses banks and other institutions formerly located in the Square Mile. However, fears that the City would be damaged by this development appear to have been unfounded with growth occurring in both locations. Canary Wharf may have been of great service to the Square Mile by providing large floorplate office buildings at a time when this was difficult within the City boundary, and therefore preventing companies such as HSBC from relocating abroad. In 2008, the City of London accounted for 4 percent of UK GDP.government.City of London has a unique political status (sui generis), a legacy of its uninterrupted integrity as a corporate city since the Anglo-Saxon period and its singular relationship with the Crown. Historically its system of government was not unusual, but it was not reformed by the Municipal Reform Act 1835 and little changed by later reforms.is administered by the City of London Corporation, headed by the Lord Mayor of London (not the same as the more recently created position of Mayor of London). The City is a ceremonial county, although it has a Commission, headed by the Lord Mayor, instead of a Lord-Lieutenant.City contains two independent enclaves (extra-parochial areas), Inner Temple and Middle Temple. These form part of the City and ceremonial county, but are not governed by the City of London Corporation. The Corporation governs the rest of the City and is responsible for a number of functions and owns a number of locations beyond the City's boundaries.City is made up of 25 wards which have recently had their boundaries changed, though the number of wards and their names have not changed.City has a unique electoral system. Most of its voters are representatives of businesses and other bodies that occupy premises in the City. Its ancient wards have very unequal numbers of voters.City has its own independent police force, the City of London Police - the Corporation is the police authority. The rest of Greater London is policed by the Metropolitan Police Service, based at New Scotland Yard.City of London has one hospital, St Bartholomew's Hospital. Founded in 1123 and commonly known as 'Barts', the hospital is at Smithfield, and is undergoing a long-awaited regeneration after many doubts as to it continuing in use during the 1990s.City is the third largest UK funding-patron of the arts. It oversees the Barbican Centre and subsidises several important performing arts companies.Port of London's health authority is also the responsibility of the Corporation, which includes the handling of imported cargo at London Heathrow airport. The Corporation oversees the running of the Bridge House Trust, which maintains five key bridges in central London, London Bridge, Blackfriars Bridge, Southwark Bridge, Tower Bridge and the Millennium Bridge. The City's flag flies over Tower Bridge, although neither footing is in the City.flag of the City of London.Latin motto of the City of London is "Domine dirige nos", which translates as "Lord, guide us". The City has its own flag and coat of arms. The red sword is commonly supposed to commemorate the killing of Peasants' Revolt leader Wat Tyler by the Lord Mayor of London William Walworth in 1381, but in fact is the symbol of the martyrdom of Saint Paul, London's patron saint..City has only one directly maintained primary school. Sir John Cass's Foundation Primary School at Aldgate (ages 4 to 11). It is a Voluntary-Aided (VA) Church of England school, maintained by the Education Service of the City of London.residents may send their children to schools in neighbouring Local Education Authorities, such as Islington, Tower Hamlets, Westminster and Southwark.City controls three very well regarded independent schools, City of London School (a boys school) and City of London School for Girls (girls) which are in the City itself, and the City of London Freemen's School (co-educational day and boarding) which is in Ashtead, Surrey. The City of London School for Girls has its own preparatory department for entrance at age seven. It is also the principal sponsor of the City of London Academy which is based in Southwark.City is also home to the renowned Cass Business School, the Guildhall School of Music and Drama and parts of three of the universities in London: The Maughan Library of King's College London's Strand Campus, and the business school of London Metropolitan University. A third business school in the City is a campus of the University of Chicago Graduate School of Business at Ropemaker Place. The College of Law has its London campus in Moorgate.
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city london financial center
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