UBS will acquire ABN AMRO's futures and options business for $386 million, plus net tangible assets, the companies announced Thursday.

The deal will make UBS a global leader in the futures and options industry. It will also enable UBS to clear and execute multiple asset classes, including commodities, equities, equity indexes, interest rates and currencies.

The companies expect to close the transaction in the third quarter, subject to regulatory approval.

"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 officer of UBS Investment Bank.

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