Australia has moved into second position, behind the United Kingdom and ahead of the United States, in the World Economic Forum's ranking of global financial centres.

The forum released its second annual Financial Development Report on Friday, ranking 55 of the world's leading financial systems and capital markets.

The forum said global financial centres still led the rankings, but the effects of the global financial crisis had pulled down most countries' scores compared to last year.

''The United Kingdom, buoyed by the relative strength of its banking and non-banking financial activities, claimed the index's top spot from the United States, which slipped to third position behind Australia largely due to poorer financial stability scores and a weakened banking sector,'' the forum said.

Australia rose to second place in 2009, from 11th in 2008 and was the only country in the top five to record a rise in its score.