The London Stock Exchange has hit back at criticism from Bats Europe over its plans to introduce tariffs aimed at controversial high-frequency trading firms, which its rival claims mark a U-turn on a decision to scrap a similar fee model last year.

European trading platform Bats Europe last week suggested the LSE had made a U-turn with the planned fee changes, citing in a letter to customers the exchange's decision in September last year to drop a fee model favoured by high-frequency traders known as 'maker-taker'.