A European trade body representing futures dealers and brokers is set to probe plans by derivatives markets the Intercontinental Exchange and Liffe to launch their own clearing houses, in the latest sign of disquiet over the effect the initiatives will have on market competition.

The London-based Futures and Options Association, which acts as a liaison between the European derivatives industry and national governments and regulators, said it has commissioned a survey of “a broad cross-section of market participants and organisations involved in the listed derivatives market on the impact of exchange-integrated clearing”.