The London Stock Exchange and Borsa Italiana, the exchanges which have agreed to merge, have confirmed they plan to take the Italian group's clearing and settlement services to other European markets after the £1.1bn (€1.6bn) deal is completed.

Massimo Capuano, the chief executive of Borsa Italiana and the future deputy chief executive of the combined group, said the promotion of the Borsa's post-trade services outside of Italy is consistent with the European Commission's "code of conduct", which aims to increase competition between clearing houses and depositories.