Robert 'Bo' Collins, chief executive of the New York Mercantile Exchange, is to meet his counterpart at the London Metals Exchange later this week to discuss issues including a possible merger.

An LME spokesman confirmed that Collins is scheduled to meet Simon Heale, the metals exchange's chief executive, but would not say whether a bid was an option. Collins is in London this week for a platinum industry gathering hosted by Johnson Matthey, the UK metals group.