Interactive Brokers Group is evaluating a deal for MF Global Holdings Ltd. that could include a purchase of assets or the entire company, according to people familiar with the matter.
MF Global this weekend has worked to find a buyer for all or parts of the company. Last week, MF Global reported a major quarterly loss and suffered a series of credit downgrades linked to its exposure to European sovereign debt.
The situation remains fluid and other options remain for MF Global, such as the sale of assets to other firms or a restructuring, said people close to the matter.
For Interactive Brokers, a Greenwich, Conn.-based brokerage and market-making firm, a deal for MF Global would bring a substantial number of new clients, particularly among hedge funds that Interactive Brokers already targets for its brokerage services, and a broader business in commodities markets where MF Global has been active for decades.
Such a deal would also reunite Interactive Brokers with assets that it missed out on during the 2005 sale of businesses run by Chicago financial services firm Refco Inc. MF Global walked away with that company’s retail brokerage operations.