Charles Schwab Eyes Part of MF Global's Futures Business

Charles Schwab & Co., is interested in buying a piece of MF Global's futures business, but doesn't appear willing to pay anything for it, the FOX Business Network has learned. Schwab, according to people with direct knowledge of the matter, is contemplating a bid in which it would make no up-front payment for MF Global's “retail” futures business, which executes or clears trades for small investors. Meanwhile, investors are demanding answers from MF Global's board of directors about what they knew about how much risk the firm was taking that led to its bankruptcy filing earlier today, sources tell the FOX Business Network.

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