It’s almost a done deal says the body language. Euronext claimed yesterday it is in “active discussions” on a deal which will transform both itself and the New York Stock Exchange.

It seems that Atticus Capital, which holds 9pc of Euronext and was in favour of a Deutsche Boerse tie-up, is now reconciled to a deal with New York.

The pan-Continental exchange has said it will update its shareholders at the annual meeting next week and will finalize the deal “as soon as is practicable.”

The London Stock Exchange will feel more vulnerable as the NYSE encamps across the channel and muscles in on the London futures and options market, Liffe, a property the LSE should have secured for itself just a few years ago.

These are not easy days for the independent LSE.