HSBC Holdings plc is a British multinational banking and financial services organisation headquartered in London, United Kingdom. It was founded in London in 1991 by The Hongkong and Shanghai Banking Corporation to act as a new group holding company[1][2] The origins of the bank lie in Hong Kong and Shanghai, where branches were first opened in 1865.[3] The HSBC name is derived from the initials of The Hongkong and Shanghai Banking Corporation Limited. HSBC is organised within four business groups: Commercial Banking, Global Banking and Markets (investment banking), Retail Banking and Wealth Management, and Global Private Banking. HSBC has a primary listing on the London Stock Exchange and is a constituent of the FTSE 100 Index. As of 6 July 2012 it had a market capitalisation of £102.7 billion, the second-largest company listed on the London Stock Exchange, after Royal Dutch Shell. It has secondary listings on the Hong Kong Stock Exchange (where it is a constituent of the Hang Seng Index), the New York Stock Exchange, Euronext Paris and the Bermuda Stock Exchange.