Institute for Global Financial Competitiveness
A New Benchmark for Global Financial Centers
In an era defined by heightened volatility and uncertainty, the Financial Centers Competitiveness Index (FCCI) provides a rigorous framework for understanding the evolving structure of global finance. Developed by the Stern School of Business at NYU Abu Dhabi, the FCCI positions itself as a strategic tool for interpreting—and navigating—the increasing complexity of international financial systems.
Central to the report is the emergence of a new paradigm of “engineered capital,” in which cities, rather than nation-states, act as the primary architects of financial ecosystems. International financial centres are no longer merely geographic concentrations of activity; they function as critical nodes in a decentralized global network, shaping capital flows, coordinating policy, attracting talent, and reinforcing financial stability. In this context, the FCCI emphasizes the importance of city-level analysis, moving beyond traditional national aggregates that no longer capture the realities of a node-driven global economy.
By advancing the availability and use of granular, city-level data, the FCCI equips policymakers, investors, and financial institutions with the tools to more effectively attract, allocate, and scale capital. Its evidence-based approach enables a deeper understanding of how financial centres compete, evolve, and position themselves within an increasingly multipolar system.
Methodologically, the FCCI adopts a two-pillar framework that integrates assessments of current capacity with future-oriented indicators. The “Footprint” pillar captures the existing scale, institutional strength, and ecosystem depth of financial centers, while the “Dynamics” pillar evaluates innovation, technological readiness, and long-term growth potential. This dual structure enables a more comprehensive and forward-looking evaluation of competitiveness.
“With the FCCI and the Institute for Global Financial Competitiveness, we wanted to move beyond league tables and provide a research-based view of how cities are engaged in building financial capacity.”
Robert Salomon, Dean of Stern at NYUAD
By combining quantitative analysis with strategic insight, the FCCI addresses key limitations of traditional ranking systems, which often lack transparency regarding underlying drivers of performance. The Index provides policymakers, regulators, and investors with an evidence-based framework to benchmark performance, assess positioning, and inform decision-making in a rapidly evolving global context.
The FCCI is the first major publication of the Institute for Global Financial Competitiveness at Stern at NYU Abu Dhabi, which advances interdisciplinary research on the structure and transformation of the global financial system. The initiative is supported by Dalio Philanthropies and guided by Ray Dalio.
Access the Report
The full FCCI report provides detailed methodology, rankings, and analytical insights.