NYSE Euronext has failed in it attempts to prevent a rival European trading firm from gaining membership to its Liffe market, showing how the transatlantic exchange may face a number of hurdles in its ambition to dominate the lucrative derivatives sector.

The case comes just over a week after NYSE Euronext exchange agreed a tie-up with Deutsche Börse, in a merger which would dominate European derivatives and is likely to come under close scrutiny from competition watchdogs.