Xavier Rolet, the chief executive of the London Stock Exchange, has said that the time for European derivatives competition “has come” as the UK bourse prepares to announce new derivatives products in the New Year.

Rolet, who was speaking as the LSE published its financial results for the first half of the year, said that the regulatory mood was shifting in favour of increased competition in European derivatives trading, which would give a boost to the UK exchange's ambitious plans to grab a foothold in the market.