The United Kingdom is the biggest exporter of financial services, and London, being in a friendly time zone along with the benefits of English and regulations that light, is the financial capital of the globe. Other cities in the world, like Venice and Amsterdam, had in the past held the honor, but they have lost the title in the past due to certain economic and political events.
Kavan Choksi Singapore – Why the city of London?
Kavan Choksi Singapore is a business and finance expert with sound knowledge of the financial markets of the world. He says that the financial district in London is a city in itself, and it was established after the Romans invaded the city in AD 50. The city is located on the Northern bank of the Thames River, and it has its own governing body and mayor known as the City of London Corporation.
The growth of the ports in London
Over time, like ports, commerce also grew in London, and this attracted merchants and business people from across the world. The population in the city increased, and immigrants from around the world started to come in. Merchants began to build guilds, and they gained a lot of power and wealth. They gained autonomy and allotted special rights and freedom to residents in the business area that they still enjoy to date.
The development of the banking sectors and how trade started in London
These merchants entered the banking sector and developed it. The Bank of England, located in the middle of the city, started as a private corporation in 1694 during the 9- year war to fund the military efforts of the government. It received privileges for the long term and later became a monopoly.
The emergence of the financial markets and the stock exchange
The coffee houses located in the city during this time were deployed as makeshift offices for traders, and they would later become prominent financial institutes in the country. With time, the London Stock Exchange emerged as it was started by stockbrokers that traded in Jonathan’s Coffee House located in Change Alley. In the same manner, the famous insurance market of Lloyd’s in London was named after a Tower Street coffee house that was deployed by marine underwriters.
Kavan Choksi Singapore states London has a rich history of financial activity, and this is why it is today considered to be the financial hub in the world. When it comes to trading in the LSE, traders from all backgrounds come to the marketplace to buy and sell stocks. He sums up by saying that when it comes to the stock markets and trading, one must be aware of the global news and trends in the market. They impact the prices of stocks and can have a positive or a negative impact on them. Certain stores also give shareholders voting rights in the company, so before investing, ensure you study the financials of the company and be aware of your risk tolerance as well.