Brian Williamson, the chairman of Liffe, is emerging as one of the favourite contenders to be chairman of the London Stock Exchange to replace Sir John Kemp-Welch, when he retires later this year.

Over the past few months there has been growing momentum of support for Williamson among a number of leading City of London elders, senior figures at the Bank of England, Treasury and the Corporation of London. One leading City figure said: "Williamson is a highly effective operator. He would also be brave enough to take on such a difficult and, what some would say, dangerous job."