Xavier Rolet, chief executive of the London Stock Exchange, said that the exchange would use “partnerships and acquisitions” to expand its business. The company also revealed that cost cutting had resulted in the loss of 12 per cent of its staff over the summer.

Mr Rolet, who took over from Dame Clara Furse in May, on Thursday also said he wanted to find ways of cutting the overall costs of using the exchange for dealing in FTSE shares by reducing clearing costs.