John Thain, chief executive of the New York Stock Exchange, has indicated that he "wants to play a leadership role in the consolidation process" of stock exchanges and that European targets were high on his agenda.

Thain, who was speaking at the World Economic Forum in Davos, Switzerland, told AFX News he expects to be involved in takeover activity "this year". He said the NYSE was interested in a deal with a European exchange because companies and investors trade in both continents.