UBS announced today that it will acquire the global futures and options business of ABN AMRO for US$386 million in cash plus net tangible assets.

The ABN AMRO futures and options business provides clearing and execution services on a global basis. The Swiss banking giant, UBS, says that the acquisition positions it as a market leader in the futures and options industry as a global provider of execution and clearing services across multiple asset classes including commodities, equities, equity indices, interest rates and currencies.

“The investment reflects UBS’s continued commitment to the futures and options business increasing its already significant market share while creating platform scale and synergies,” it explains.

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

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