NYSE Euronext has signalled its determination to compete with major derivatives markets such as CME Group by appointing the head of Merrill Lynch's exchange-traded derivatives business to lead an expansion into US futures.

Thomas Callahan will join the transatlantic exchange group next month as head of its US futures division, according to a statement. The 15-year Merrill veteran will report to Hugh Freedberg, head of global derivatives at NYSE Euronext.