The city of New York plays a central role in world financial markets.Housing some of the most High-profile markets and investment banks in the world, analysts, traders and economists worldwide turn to New York for clues as to the economic mood.
The availability of skilled personnel ,the regulatory environment are two crucial components that scored highly for New York .The reason that New York became global financial centre in the first place has something to do with their Long trading history. The city has critical mass and benefit from having an existing business cluster. The US is the world's biggest economy, and trade in shares and bonds in the country's corporate giants is predominantly done in New York.
The Securities Industry Association (SIA) estimates that more than $100bn of trades are conducted every day in the US.In the US, nearly 800,000 people are employed in financial markets.