Editing Wall Street (section)

====Competing financial centers====
{{Main|Financial center}}

Of the street's importance as a financial center, ''[[New York Times]]'' analyst [[Daniel Gross (journalist)|Daniel Gross]] wrote:

{{blockquote|In today's burgeoning and increasingly integrated global financial markets&nbsp;— a vast, neural spaghetti of wires, Web sites and trading platforms&nbsp;— the N.Y.S.E. is clearly no longer the epicenter. Nor is New York. The largest mutual-fund complexes are in [[Valley Forge, Pennsylvania|Valley Forge, Pa.]], [[Los Angeles]] and [[Boston]], while trading and money management are spreading globally. Since the end of the cold war, vast pools of capital have been forming overseas, in the Swiss bank accounts of Russian oligarchs, in the Shanghai vaults of Chinese manufacturing magnates and in the coffers of funds controlled by governments in Singapore, Russia, [[Dubai]], [[Qatar]] and Saudi Arabia that may amount to some $2.5 trillion.|Daniel Gross in 2007<ref name="nyt20071014" />}}

An example is the alternative trading platform known as [[BATS Global Markets|BATS]], based in [[Kansas City]], which came "out of nowhere to gain a 9 percent share in the market for trading United States stocks".<ref name="nyt20071014" /> The firm has computers in the [[U.S. state]] of [[New Jersey]], and only two salespeople in New York City; the remaining 33 employees work in a center in Kansas.<ref name="nyt20071014" />