The London Stock Exchange is in talks with banks on both sides of the Atlantic about funding and building a clearing house, according to press reports.
The financial crisis has led regulators to push for greater use of clearing houses, making it an increasingly lucrative business.
With the LSE planning to take on derivatives exchanges Eurex and Nyse Liffe, it is in talks with banks about setting up a London-based clearing house, according to the Financial Times.
The bourse currently uses LCH.Clearnet for its equities business but has recently complained about high costs and would probably sever all ties with the firm if a new clearing house is launched, says the FT.
The LSE plans to put up 51% of the money needed to build a "default fund" for the house, with the banks providing the rest. However, not all the banks involved have committed to the plan yet, says the paper.
Last year the LSE briefly joined a consortium led by Icap bidding to buy LCH.Clearnet and is also believed to have considered buying a controlling stake in European Multilateral Clearing Facility.
In May, Nyse Euronext revealed plans to start clearing its own securities and derivative trades in Europe, severing its ties with LCH.Clearnet. In following the lead of Deutsche Börse, which clears itself, it predicts it will bring in at least $100 million a year in revenues from 2013.