Spotlight: Dutch Bank Giant Buys Options Clearing Firm

Dutch banking giant ABN Amro Holding said its Chicago-based investment banking unit, ABN Amro Chicago Corp., agreed to buy Sage Clearing, a San Francisco stock and options clearing firm, for an undisclosed sum. Douglas J. Engmann, president and co-founder of Sage Clearing, will continue to oversee the unit as deputy chairman of ABN Amro Chicago. Sage Clearing is one of the largest options clearing firms in the U.S., representing about 350 traders on several U.S. exchanges.