The chief executive of Euronext.liffe has hit back at comments by Clara Furse, chief executive of the London Stock Exchange, that its plans to change clearing arrangements could be "anti-competitive", arguing that his company would operate under a competitive disadvantage if it failed to change.

Euronext.liffe, one of the largest derivatives exchanges in Europe, is planning to launch its own clearing house, having reached an agreement with its current provider, LCH Clearnet, to share clearing duties. The development was first reported by Financial News in February and confirmed by Liffe three weeks ago.