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An area in London that forms the center of its financial district. The City is legally called "the City of London" and once formed the entirety of London. The Bank of England, the London Stock Exchange and Lloyd's, among others, are headquartered in the City. In the 1800s, the City was the world's primary financial center and it remains very important. Because of its influence on the wider financial world, the City is often used as a byword for the financial industry in the United Kingdom and its lobbyists. The sheer amount of money traded in the City renders it vitally important to the global economy as well. Interestingly, both businesses and individuals may vote in City elections.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
City (of London)the centre of the UK's FINANCIAL SYSTEM, embracing the MONEY MARKETS (commercial banks, etc.), CAPITAL MARKET (STOCK EXCHANGE), FOREIGN EXCHANGE MARKET, COMMODITY MARKETS and INSURANCE MARKETS. The City of London is also a major international financial centre and earns Britain substantial amounts of foreign exchange on exports of financial services.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005