Nasdaq is increasing the fees it charges listed companies, sending a frisson of fear through users of the London Stock Exchange.

British companies are now wondering whether Robert Greifeld will use a fee hike to recoup costs if Nasdaq takes over the LSE. Fees at the American exchange rose by 22pc for smaller companies and 27pc for larger ones.

On Nasdaq, annual fees start at £16,000 ($30,000) rising to £51,000 ($96,000). In London, the equivalent range is £3,600 ($6,768) to £35,000 ($66,000).