Interbank broker ICAP said today it has ended talks with the London Stock Exchange about a possible merger.
The Timesnewspaper reported today that Nasdaq was "determined" to buy the LSE.
The US-based Nasdaq Stock Market had made a $4.5 billion takeover bid for the London exchange, which was rejected in March.
Nasdaq is now the largest shareholder in the London exchange and will be free to make another bid on September 30th.
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Shares in the LSE were up 0.5 per cent at 1,249 pence (€18.57) in today's trading.