LegalUK conducts research into value of UK legal market

Research conducted by the relaunched lobbying group LegalUK has found that English law underpins trillions of dollars of business annually. The research, conducted by Oxera, revealed that in 2019, English law was used in over €66trn worth of derivatives trading, $11.6trn of metals trading and £250bn of global M&A transactions, as well as £80bn of insurance contracts and £15bn of maritime contracts. The report was funded by leading firms, chambers and regulators, including the Bar Council and the Law Society.