--Rob McGlinchey
The City of London, which accounts for 43% of the value of over-the-counter derivatives traded globally, is losing out on attracting financial services startups due to industry fears over the outcome of regulation aimed at derivatives and short selling. Stuart Fraser, chairman of the policy and resources committee at the City of London Corporation, told Derivatives Week. Changes in the financial instruments directive also are a factor.
Fraser said although there has been no exodus of companies already operating in London, firms ....