Companies sell their stock in the equity markets. International equity markets consists of all the stock traded outside the issuing companys home country. Many large global companies seek to take advantage of the global financial centres and issue stock in major markets to support local and regional operations. The first tier of centres in the world are the world financial centres, which are in essence central points for business and finance. They are usually home to major corporations and banks or at least regional headquarters for global firms. They all have at least one globally active stock exchange. While their actual order of importance may differ both on the ranking format and the year, the following cities rank as global financial centres: New York, London, Tokyo, Hong Kong, Singapore, Chicago, Zurich, Geneva, and Sydney.

Select one global financial centre and research its history and evolution to present times. Do you feel that the centre will remain influential? Why or why not? Which other global financial centres compete with the one you have chosen?