Mumbai enters world's top-ten financial flow league
Wednesday, 20 June 2007
MUMBAI, June 19 (PTI): Driven by high trading volumes for equities and good presence of global banking and financial services firms, Mumbai has grabbed a place in the world's top ten financial flow hubs list, beating Hong Kong and Beijing in China.
The city has been ranked tenth among the world's biggest centres of commerce in terms of the financial flow volumes by a survey compiled by Mastercard Worldwide, which takes into consideration size of financial services network besides equity, bond, derivatives and commodity contract transactions.
The list, lead by London and New York on the first two slots, include two other Asian cities-Tokyo at fifth and Seoul at sixth positions, but does not have any representation from China-another emerging Asian economy.
The city has been ranked tenth among the world's biggest centres of commerce in terms of the financial flow volumes by a survey compiled by Mastercard Worldwide, which takes into consideration size of financial services network besides equity, bond, derivatives and commodity contract transactions.
The list, lead by London and New York on the first two slots, include two other Asian cities-Tokyo at fifth and Seoul at sixth positions, but does not have any representation from China-another emerging Asian economy.