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47 ssss1 (O'Malley, 2015, p. 23–24). ‘Throgmorton Street’ refers to the London Stock Exchange, which was located there from 1972 until 2004.

48 ssss1 (O'Malley, 2015, p. 25).

49 ssss1 (Norman, 2007, p. 18).

50 ssss1 (O'Malley, 2015, p. 25).

51 ssss1 (O'Malley, 2015, p. 27–30).

52 ssss1 (O'Malley, 2015, p. 35–36).

53 ssss1 (O'Malley, 2015, p. 36).

54 ssss1 (Norman, 2007, p. 22).

55 ssss1 A ‘repo’ is a repurchase agreement. This is a form of short-term collateralised borrowing. The borrower sells securities (usually government or other highly rated bonds) to the lender in return for short-term funds and, by agreement between the two parties, buys them back at a future date, usually at a higher price to reflect interest costs.

56 ssss1 (Phillips, 2019).

57 ssss1 SWIFT data, which can be accessed at: https://www.swift.com/swift-resource/249851/download.

58 ssss1 Based on BIS and SIFMA figures, which can respectively be accessed at: https://stats.bis.org/statx/toc/SEC.html and https://www.sifma.org/wp-content/uploads/2020/09/US-Fact-Book-2020-SIFMA.pdf.