Liffe, the London derivatives exchange, yesterday put itself up for sale after receiving several takeover approaches, including one from the London Stock Exchange. Others believed to have held takeover talks with the London International Financial Futures and Options Exchange include the Nasdaq stock market in the US. Euronext, the merged Paris, Amsterdam and Brussels stock exchanges and the Chicago Merantile Exchange are also thought to have had discussions with Liffe.

Deutsche B÷rse of Germany is understood to be interested but would face regulatory obstacles.

Buying Liffe would bolster the LSE's position ahead of expected consolidation among European securities exchanges. Liffe is believed to have received at least one preliminary offer of around £15 sterling-a-share. This would value Liffe, whose very survival was at risk three years ago, at more than £400 million sterling (€645 million).