UBS has acquired ABN Amro’s global futures and options business for $386 million. The Zurich-based bank said the acquisition will ensure UBS...

UBS has acquired ABN Amro’s global futures and options business for $386 million. The Zurich-based bank said the acquisition will ensure UBS will become a market leader in the futures and options industry.

The ABN AMRO futures and options business provides clearing and execution services on a global basis.

“Today’s announcement accelerates our organic growth strategy to become the 'scale' player in a market that continues to witness significant participant consolidation,” said Huw Jenkins, chairman and chief executive of UBS Investment Bank.

“Expanding our global presence, client franchise and product offering, this acquisition confirms our commitment to grow our Prime Services business through investment in our North America, Asia, Emerging Markets and commodities offering.”

The transaction is expected to close in the third quarter of 2006, subject to regulatory approval. The acquisition will be integrated into the Prime Services business within the equities business of UBS Investment Bank.