Using its adviser, Citigroup, the New York Stock Exchange is beginning to sound out major shareholders in the London Stock Exchange.

The move is seen as testing the water as part of its campaign to end LSE independence. Among those contacted were Scottish Widows and fund manager DE Shaw and Co.

Reports suggest that talks have taken place between the LSE’s Clara Furse and John Thain, the NYSE chief. Furse is also said to be slating a meeting with Robert Greifeld of Nasdaq, which has built a fighting fund of $1.1 billion through a loan facility with Bank of America.

The NYSE is hedging its bets by suggesting it may be interested in tie-ups with the Chicago Mercantile Exchange. Its earnings’ report, due this week, may shed more light on its future intentions.