City of London

The **City of London**, also referred to as the **Square Mile** or simply **the City**, is a district of Greater London. The city's boundaries have remained almost unchanged since the Middle Ages. Although it is now only a small part of the metropolis, it is a notable part of central London. The City holds city status in its own right, and is also a ceremonial county. It is just over one square mile,  in area.

It is here in the City of London where most of the United Kingdom's financial trade is done. It is a very small area, only a square mile, and has a very small resident population (8,000). However, many people come to work here and during the day it can be very busy, with some 300,000 people in it.

"London" now refers to Greater London, which is made up of 32 boroughs (including the City of Westminster and the City of London). The city is in central London and is the oldest part of the city, dating back to Roman times. The City of London has its own mayor, the Lord Mayor of London, an office separate from (and much older than) the Mayor of London. There are other ancient features, dating back to medieval times. The city has its own police force, the City of London Police.

## History

The city is the site of Roman _Londinium_, and the archaeological remains are on display in the Museum of London, City Wall.

The city has many churches designed by Sir Christopher Wren, including St Paul's Cathedral. The city was the site of the Great Fire of London in 1666.

## Financial markets

The City vies with New York City as the financial capital of the world: many banking and insurance institutions have their headquarters there. The London Stock Exchange (shares and bonds), Lloyd's of London (insurance), the London Metal Exchange and the Bank of England are all based in the city.

Over 500 banks have offices in the city, and the city is an established leader in trading in Eurobonds, foreign exchange, energy futures, metals, and global insurance. The Alternative Investment Market, a market for trades in equities of smaller firms, is a recent development. In 2008, the City of London accounted for 4% of UK GDP.

London is the world's greatest foreign exchange market, with much of the trade conducted in the City of London. Of the $3.98 trillion daily global turnover, as measured in 2007, trading in London accounted for around $1.36 trillion, or 34.1% of the total. The Pound Sterling, the currency of the United Kingdom, is globally the fourth most traded currency and the third most held reserve currency.

Since 1991 Canary Wharf, a few miles east of the City in Tower Hamlets, has become a second centre for London's financial services industry and houses many banks and other institutions formerly located in the Square Mile. This development does not appear to have damaged the city: both places have grown.

## Infobox (settlement)

- **official name**: City of London
- **other name**: <sub>The City • Square Mile</sub>
- **motto**: Domine dirige nos
<small>Latin: _Lord, guide us_</small>
- **image skyline**: City of London skyline 27.12.2019.jpg
- **image caption**: Skyline in 2019
- **image flag**: Flag of the City of London.svg
- **flag size**: 100px
- **image shield**: Coat of Arms of The City of London.svg
- **shield size**: 100px
- **image map**: LondonCity.svg
- **mapsize**: 200px
- **map caption**: Shown within Greater London
- **subdivision type**: List of sovereign states, Sovereign state
- **subdivision name**: United Kingdom
- **subdivision type1**: Constituent country
- **subdivision name1**: England
- **subdivision type2**: Regions of England, Region
- **subdivision name2**: Greater London
- **subdivision type3**: Status
- **subdivision name3**: _sui generis_, City status in the United Kingdom, City and Ceremonial counties of England, Ceremonial County
- **subdivision type4**: Admin HQ
- **subdivision name4**: Guildhall, London, Guildhall
- **leader title**: Local government in England, Local authority
- **leader name**: City of London Corporation
- **leader title1**: Lord Mayor of London, Lord Mayor
- **leader name1**: Michael Bear (Lord Mayor), Michael Bear
- **leader title2**: MPs elected in the United Kingdom general election, 2005, MP
- **leader name2**: Mark Field
- **leader title3**: London Assembly, London Assembly
- **leader name3**: John Biggs
- **established title**: Roman Empire, Roman settlement
- **established date**: circa, c. 47 Anno Domini, AD
(_Londinium_)
- **established title2**: Kingdom of Wessex, Wessex resettlement
- **established date2**: 886 AD
(_Lundenburh_)
- **area total km2**: 2.9
- **area total sq mi**: 1.12
- **population as of**: 2005 est
- **population note**: Population List of English districts by population, Ranked 353rd
- **population total**: 9200
- **population density km2**: 3172
- **population blank1 title**: Ethnicity
- **population blank1**: 84.4% White
68.3% British
12.8% non-British
3.3% Irish
6.8% British Asian, South Asian
2.6% British African-Caribbean community, African-Caribbean
2.0% British Chinese, Chinese
- **population blank2 title**: ONS coding system, ONS code
- **population blank2**: 00AA
- **timezone**: Greenwich Mean Time, GMT
- **utc offset**: +0
- **timezone dst**: British Summer Time, BST
- **utc offset dst**: +1
- **postal code type**: Postal code
- **postal code**: EC postcode area, EC
- **website**: http://www.cityoflondon.gov.uk