Identify the type of International Financial center.

Solution

Traditional financial centers are the most well-known and established centers, such as New York and London. They are the largest and most influential financial centers, with a long history of financial activities and a highly developed infrastructure. These centers are home to the world's largest banks, investment firms, and stock exchanges. These are centres that genuinely serve clients from all over the world in the provision of the widest range of financial services, including asset management, investment banking, insurance, and trading. As such, they are mostly referred to as the Global Financial Centres (GFCs) in true sense.