The Intercontinental Exchange, which was defeated by the Chicago Mercantile Exchange in the four-month bid battle for control of the Chicago Board of Trade, has become a potential takeover target for transatlantic group NYSE Euronext according to CBOT's largest shareholder.

Will Vicars, managing director at Australian hedge fund Caledonia Investments, which switched allegiance to vote in favour of a $12bn (€8.8bn) cross-town merger with CME, said ICE's failure to complete the merger means it could now become the subject of a takeover itself.