The Big Bang: Integration of Financial Markets

Limerick Patrick

Chapter 7 in International Banking, 1988, pp 61-71 from Palgrave Macmillan

Abstract: Abstract I feel myself as a European to be placed in the correct time zone in this session. I have just been inspired, figuratively from the East from Tokyo, by Mr Ogata, and I am now in a position to provoke the New Yorker sitting figuratively to my West. If I wished to provoke Mr Freeman it might be with the reflection that London currently handles 25 per cent of world banking transactions compared with 15 per cent in New York, that London handles 25 per cent more foreign-exchange turnover than New York, and that there are more US banks represented in London than in New York. I would add that London is but one of the financial centres of Europe.

Keywords: Interest Rate; Financial Institution; Stock Exchange; Investment Bank; Financial Centre (search for similar items in EconPapers)
Date: 1988
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DOI: 10.1007/978-1-349-09706-7_7

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