Also (probably) the top trading cities of the universe. Whether you buy into globalization or just want to rule the world, where you trade matters less than what you trade. These days, you don't need to be sitting in a Midtown Manhattan office to short, long or squeeze anything. Scouring the planet and talking to traders from Dubai to Shanghai, we’ve pulled together, for your edification, our second annual ranking of the best trading cities on earth. (Plus, how London clinched top ratings, again beating out Wall Street.)
Whether you buy into globalization or just want to rule the world, where you trade matters less than what you trade. These days, you don't need to be sitting in a Midtown Manhattan office to short financials.
But because trading is more than a job -- it is, as our readers have come to appreciate, a way of life -- the place in which you choose to plug in your terminal can certainly play a role in your success, not to mention how you go about enjoying it.
We first asked the question a year ago: If you could trade anywhere, where would you go? Constructing a matrix that combined a robust mix of business and lifestyle criteria in equal measure, Trader Monthly's editors set out to rank 50 of the most trading-oriented cities we could find, examining taxes, time zones, real-estate prices, weather, nightlife and a host of other factors. In our first Best Trading Cities roundup (Trade Here Now! June/July 2007), Chicago, London and New York, not surprisingly, took first, second and third place, respectively.
While those same cities maintained their top slots this year -- indeed, Chicago is soon to be crowned the undisputed futures mecca by virtue of the CME's absorption of the NYMEX -- we did witness a few interesting changes. Hong Kong rose up the rankings, as did tax-favorable, rogue-friendly Paris, while Boston and Dublin fell. (So much for the luck of the Irish.) We added some new cities (Abu Dhabi, Dallas, Istanbul and Monaco) while nixing others (Atlanta, Lisbon, Stockholm and Washington, D.C.). We also placed greater emphasis on trading opportunities and infrastructure. Booming emerging-market cities, such as sugar-sweet São Paulo, thus saw their stock rise. We're spanning the globe in search of the perfect place to trade -- and you're invited to come along for the ride.
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