In another bold move, Nasdaq swooped like a bird of prey last night on yet more shares in the hapless London Stock Exchange. Its holding now rises to 25.1pc.

The purchase gives Robert Greifeld an effective veto over the future ownership of the ancient London exchange and its other corporate moves. Moreover, the Americans can lift their shareholding to 29.9pc before declaring a full bid.

The one fly in the ointment for both tussling exchanges is that Nasdaq is literally drowning in debt and was recently downgraded to junk status by Standard & Poor’s. Its shares in LSE will not generate much income which may rule out a long game here.

Astonishingly, Clara Furse has not yet met Robert Greifeld during the current situation, and must see her career as an exchange Chief Exec draining away before her eyes.