Deutsche Börse's CEO has said his company's planned merger with the London Stock Exchange Group will benefit both the UK and Germany in the "ferocious" battle with rival financial hubs around the world.

Speaking at Deutsche Börse's annual reception at Merchant Taylors’ Hall on January 31, Carsten Kengeter said London and Frankfurt have "much more to gain than to lose" from the merger, which was announced a year ago this month.