Euronext, the pan-European securities exchange operator, is preparing its first bond issue to help reduce the £555m (€709m) cost of buying the Liffe derivatives market just over two years ago.

The new issue, which will be run by HSBC, will be denominated in sterling and will have a "short to medium-term maturity". A member of Euronext's finance department said the exchange operator was aiming to raise £250m in a two to five-year deal.