JP Morgan Cazenove, long-standing corporate broker to the London Stock Exchange, was noticeable for its absence on the UK exchange’s £4bn merger with Canadian counterpart TMX, raising the possibility it has a central role on the proprosed tie-up between Deutsche Börse and the New York Stock Exchange.

Shares in German exchange Deutsche Börse and the New York Stock Exchange were suspended this afternoon after reports that they were planning to merge. The two exchanges confirmed in a statement that they were in talks. The news came after LSE this morning announced a £4bn merger of equals with Canadian exchange TMX.