Britain's competition regulator is consulting on the conditions it should impose for giving the go-ahead to bids for the London Stock Exchange by either Deutsche Börse or Euronext. These are necessary, it says, because the acquisition of the LSE by either of its rivals would otherwise lead to a substantial lessening of competition. The issues it has investigated, however, cannot be left solely to national regulators to deal with

The Competition Commission consultation follows its investigation of two bids for the LSE that do not exist - the German exchange withdrew its offer in May. But there remains