Due to its high concentration of important financial institutions, Frankfurt is one of the world's most important financial centres and the leading one in Germany, Munich coming some way behind. Frankfurt was ranked 7th at the International Financial Centers Development Index (2012), 8th at the Worldwide Centres of Commerce Index (2008), 10th at the Global Power City Index (2011), 11th at the Global City Competitiveness Index (2012), 12th at the Innovation Cities Index (2011), 13th at the Global Financial Centres Index (March 2012), 14th at the World City Survey (2011) and 23th at the Global Cities Index (2012).
According to an annual study by Cushman & Wakefield, the European Cities Monitor (2010), Frankfurt has been one of the top three cities for international companies in Europe, along with London and Paris, since the survey started in 1990. It is also the only German city considered to be an alpha world city (category 3) as listed by the Loughborough University group's 2010 inventory, which was a promotion from the group's 2008 inventory when it was ranked as an alpha minus world city (category 4).
The European Central Bank (Europ�ische Zentralbank) is one of the world's most important central banks. The ECB sets monetary policy for the Eurozone, consisting of 17 European Union member states that have adopted the Euro (�) as their common currency and sole legal tender. Since its foundation in 1998 the ECB Headquarters are located in the Eurotower at Willy-Brandt-Platz and, due to a shortage of space, in two other high-rise office buildings in Frankfurt's financial district. The future European Central Bank Headquarters in the Ostend district, consisting of the former wholesale market hall (Gro�markthalle) and a newly built 185-metres skyscraper, are expected to be completed by early 2014. The new building complex will house up to 2,300 ECB personnel. The location, which is a few miles away from the city centre and borders an industrial area
