A dispute between two new US futures exchanges that want to break open the CME Group’s near-monopoly on US Treasury futures will intensify on Thursday, when a company backed by some of Wall Street’s biggest names will urge Washington regulators to reject a proposal by NYSE Euronext for a new clearing venture.

NYSE Euronext announced this month that it had struck a deal with The Depository Trust & Clearing Corporation, the US post-trade services group, to create a clearing house that would clear both cash Treasuries and Treasury futures.