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UK holds Europe’s financial top spot as Asia makes gains

While the UK remains twice the size of German and French peers, domestic activity has flatlined

London is particularly dominant in trading and clearing; it is by far the biggest market globally for foreign exchange and derivatives trading, and the second biggest market for clearing and foreign equity trading
London is particularly dominant in trading and clearing; it is by far the biggest market globally for foreign exchange and derivatives trading, and the second biggest market for clearing and foreign equity trading Photo: Jason Alden/Getty Images

The UK has held its place as Europe's top financial centre, but Asian hubs are catching up fast, according to a new report from the New Financial think-tank.

New Financial's ranking, which places the UK in a stronger position than other analyses due to its reliance on the value of activity rather than qualitative metrics, puts the UK's financial markets at three times the size of France's or Germany's.

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