London has been ranked the world's top centre of commerce, leaving behind second-placed New York, according to a study by MasterCard.

New York was held back by bond market regulations that affect the volume of listed sales, a more volatile US currency, and by a US economy that was considered to be less stable economy than Britain's economy, MasterCard said.

Tokyo came third, ahead of Chicago, Hong Kong and Singapore.

The index covers 63 cities, rated according to their legal and political framework, economic stability, ease of doing business there, financial flows, standing as a business centre and as a centre of knowledge and information.

Following are the cities that made it to the top ten:

New York 73.80
Tokyo 68.09
Chicago 67.19
Hong Kong 62.32
Singapore 61.95
Frankfurt 61.34
Paris 61.19
Seoul 60.70
Los Angeles 59.05
Amsterdam 57.30

13 June 2007, Wednesday
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