UBS wins bidding for ABN futures

UBS reportedly agreed on 17 May to purchase ABN Amro's futures and commodities trading business, a deal that creates the largest futures commission merchant (FCM) in the US and perhaps the world.

The Swiss bank was believed to have outbid Man Group for the futures trading division, with the valuation agreed at somewhere in the $300m-400m range. This price was significantly below the $600m mentioned in earlier press reports but in line with FO Week's prior information (see FO...