…Executives and analysts alike say the LSE is officially “in play” after it revealed last week it was in talks about an all-share “merger of equals” with Deutsche Börse. On Tuesday ICE indicated it too may make a bid. “The LSE is a pretty hot target and is a massive foothold in European financial markets. Now the LSE is in play you can’t afford not to be a bidder,” said Niki Beattie, head of Market Structure Partners, a consultancy. … Ms Beattie, a former bank head of electronic trading, thinks a deal for the LSE will happen after years of unconsummated bids. “I think that’s why the banks won’t lobby against it this time — the cost savings [from netting margins] will be too great for banks exhausted by regulatory issues.”