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Old 02-13-2021, 09:05 AM
 
Location: Great Britain
16,950 posts, read 6,240,570 times
Reputation: 11004

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Quote:
Originally Posted by rranger View Post
Now that the implications of Brexit are being realized full-force, I predict that London is going to start to seem smaller and smaller and smaller and ... European stock trading, for example, is already shifting to Amsterdam and derivative creation is well on its way to being centered in NYC.
Stock markets across the world have been declining for years, with the London Stock Exchange (LSE) now diversifying in to new areas with the $27 Billion purchase of Refinitiv which has 18,500 employees, and is a global provider of financial market data and infrastructure. This purchase is expected to useful in relation to the next big deregulation bang and in terms of attracting Fintech etc, an area that London has come to dominate.

In order to raise funds for the purchase of Refinitiv, the London Stock Exchange (LSE) sold the Borsa Italiana stock exchange in Milan to Euronext for $5 billion, a deal that will coincide with the London Exchanges acquisition of Refinitiv, and it's future plans. Euronext Amsterdam is a stock exchange based in Amsterdam, and was formerly known as the Amsterdam Stock Exchange.

In terms of derivatives, London has clearance to trade as part of Brexit, and on-going negotiations are being held in relation to financial services.

The UK has also sort to out in place a closer relationship with Switzerland, another non-EU nation with a strong financial services industry. The Swiss have previously proposed an F4 alliance of Switzerland, the UK, Singapore and Hong Kong working more closely together.

London has seen big investment in recent times with areas such a tech and life sciences becoming ever more important in relation to the cities and UK economy as a whole.

The slow death of global stock markets - World Finance

Switzerland's banks looking to build ties with Britain ahead of EU negotiations - City AM

Sunak Sees Big Bang 2 for U.K. Financial Services Industry - Bloomberg

Barclays urges UK to focus on US and Asia post Brexit - BBC News

LSE to sell Borsa Italiana stock exchange to Euronext for $5 billion - CNBC

London Stock Exchange gets green light for $27bn Refinitiv deal - City AM

Refinitiv - Wikipedia

Last edited by Brave New World; 02-13-2021 at 10:06 AM..
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Old 02-14-2021, 06:35 AM
 
Location: Great Britain
16,950 posts, read 6,240,570 times
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In terms of the New York Stock Exchange it has recently threatened to leave the city if New York state plans for a stock transfer tax are implemented.

NYSE chief warns it may exit New York if stock transfer tax is imposed - Reuters

New York Stock Exchange Threatens To Leave New York Over Proposed Stock Transfer Tax - Forbes

NYSE chief warns it may exit New York if stock transfer tax is imposed - New York Post
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Old 02-15-2021, 06:05 PM
 
Location: In the heights
28,791 posts, read 27,984,768 times
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Quote:
Originally Posted by Brave New World View Post



Yea, it's definitely something that does not make sense to do on a state or municipal level--it has to be federal. There is pretty free and easy commerce and relocation among the US states and that also means that there is relatively easy relocation of businesses. That can be very good in some sense in allowing for a far larger market base and ease of scaling businesses, but it also means that state and municipal level actions are sometimes more limited in their control of certain things.
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Old 02-16-2021, 02:31 AM
 
Location: Great Britain
16,950 posts, read 6,240,570 times
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Quote:
Originally Posted by OyCrumbler View Post
Yea, it's definitely something that does not make sense to do on a state or municipal level--it has to be federal. There is pretty free and easy commerce and relocation among the US states and that also means that there is relatively easy relocation of businesses. That can be very good in some sense in allowing for a far larger market base and ease of scaling businesses, but it also means that state and municipal level actions are sometimes more limited in their control of certain things.


This would put the entire NY State including NYC at a big disadvantage in terms of share trading, and this is especially true in relation to electronic trading floors which would simply move elsewhere and would also have implications in relation to the development of Fintech.

I thought California was in self destruct mode, but NY under Cuomo and de Blasio also seems intent on self destruction.

I wish NYC all the best and can only hope that the current politicians are replaced by ones with more sensible policies.
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Old 02-16-2021, 10:00 AM
 
Location: In the heights
28,791 posts, read 27,984,768 times
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Quote:
Originally Posted by Brave New World View Post


This would put the entire NY State including NYC at a big disadvantage in terms of share trading, and this is especially true in relation to electronic trading floors which would simply move elsewhere and would also have implications in relation to the development of Fintech.

I thought California was in self destruct mode, but NY under Cuomo and de Blasio also seems intent on self destruction.

I wish NYC all the best and can only hope that the current politicians are replaced by ones with more sensible policies.

Right--essentially, the US is a very large common market with few internal trade barriers so it can be an immense resource to tap into whereas having a small market means it's really difficult to scale. I believe this is a large factor for why the US is so dominant in so many industries compared to European countries even in aggregate and why China has been able to grow so quickly. That being said, the individual cities/states also have to be decently smart about it and neither Cuomo nor de Blasio are really all that great though they also aren't clever enough to push all that much through in the first place. That being said, I would think that London right now has a far greater risk of things changing quite a bit for its economy than NYC does.
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Old 02-17-2021, 04:38 AM
 
Location: Great Britain
16,950 posts, read 6,240,570 times
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Quote:
Originally Posted by OyCrumbler View Post
Right--essentially, the US is a very large common market with few internal trade barriers so it can be an immense resource to tap into whereas having a small market means it's really difficult to scale. I believe this is a large factor for why the US is so dominant in so many industries compared to European countries even in aggregate and why China has been able to grow so quickly. That being said, the individual cities/states also have to be decently smart about it and neither Cuomo nor de Blasio are really all that great though they also aren't clever enough to push all that much through in the first place. That being said, I would think that London right now has a far greater risk of things changing quite a bit for its economy than NYC does.
In terms of finance, protectionism doesn't work, as it's an international market place, and tech is only going to increase this.

London also has a growing tech sector and life sciences/bio-pharma sector.

London and the UK can reduce financial regulations and taxes and encourage investment.

The EU was constantly trying to apply rules to London and even when the UK was part of the EU, thet tried to stop firms managing large euro deals if they were not eurozone-based.

There were also all kinds of regulations and even proposed transaction taxes and this is the reason financial centres such as Switzerland stay outside of the EU.
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Old 02-22-2021, 01:21 PM
 
Location: In the heights
28,791 posts, read 27,984,768 times
Reputation: 15424
Quote:
Originally Posted by Brave New World View Post
In terms of finance, protectionism doesn't work, as it's an international market place, and tech is only going to increase this.

London also has a growing tech sector and life sciences/bio-pharma sector.

London and the UK can reduce financial regulations and taxes and encourage investment.

The EU was constantly trying to apply rules to London and even when the UK was part of the EU, thet tried to stop firms managing large euro deals if they were not eurozone-based.

There were also all kinds of regulations and even proposed transaction taxes and this is the reason financial centres such as Switzerland stay outside of the EU.

London did have a strong advantage in terms of access to the EU and much to its benefits. I don't think the deals that the UK ends up hammering out with the EU will continue giving London quite the same amount of access. Switzerland has a host of reasons for staying out of the EU, just as the UK does, right? I think there may be a current and historical difference in that the Swiss are out with a fairly neutral position in regards to the other European nations and is famous for having maintained such for a while. It would appear that Brexit has involved a little bit of hostility from both sides.
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Old 02-22-2021, 02:18 PM
 
1,107 posts, read 300,375 times
Reputation: 808
Default More and more this forum becomes a US vs the World and not getting in a good way.

[Mod cut: orphaned/off topic]

Whether NYC or London UK. Both are in their own classes. The US has plenty of cities competing for relocation from NYC including transplants. London UK is its own beast that no other city will have with what ..... 2000 yrs of history? Paris also and cities that the without much competition within their Nation and a case for National Pride even more then American Legacy cities today that especially politically.... get demonized today. NYC is not a lone wolf city anymore in its Nation that gets every eye seeing it as all National Pride is upon here. It is still very much a American and North American city despite a much higher density then any other in the US at least of North America with Mexico City that gets like forgotten.

Again, when post get like this.... in other forums.... post get removed and closed. We all need to keep the offensive mode in check and they get looked at as if being for fun and laughing at others when triggered when in reality.... you were too. There is no where else for this thread to go IMO. Best to leave it go to sleep. It brings down the whole thread even further when a OP adds fuel to the fire he started and applauds others who disagree and post get hot.

Last edited by elnina; Today at 02:07 AM..
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Old 02-22-2021, 04:04 PM
 
125 posts, read 41,519 times
Reputation: 256
[Mod cut: orphaned]

Would everyone like to get back to the discussion at hand?? London in my recent experience seems both more lively and populated than New York. New York is a great town, but I much prefer London for several reasons that I already listed some pages back. Now people are free to share their experiences in both cities and discuss the topic at hand... However, if people want to lash out and try to discredit a legitimate thread because of their "feelings," then expect them to be clowned by myself and others....

So, does anyone have anymore thoughts on London vs NYC as it relates to this thread??

Last edited by elnina; Today at 02:09 AM..
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Old 02-22-2021, 04:33 PM
 
Location: SE UK
9,366 posts, read 7,962,139 times
Reputation: 6512
Im just wondering when 'overcrowding' became a competition? :-)
Wouldn't cities in India or China 'win' this particular contest? :-D
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