Plus Markets, the embattled London-based stock exchange, said this afternoon that it had put itself up for sale, citing the need to achieve greater economies of scale amid a fast-changing commercial and regulatory environment.

In a statement issued at 3pm this afternoon, Plus Markets said: "The board believes that it is in the best interests of the company to seek a partner which will help it achieve the scale and reach required to maximise value to stakeholders. It has therefore decided to conduct a formal sale process in order to identify appropriate potential partners for the company or major strategic investors."