MF Global Holdings Ltd. is racing to sell all or part of its business this weekend, with its futures brokerage business seen as the most attractive, a source familiar with the situation said Friday.

MF Global has reached out to major banks including Barclays PLC, Citigroup Inc., Deutsche Bank, Jefferies Group Inc., JPMorgan Chase & Co., Macquarie Group Ltd., State Street Corp., and Wells Fargo & Co., according to the source.

"If it gets done, it needs to get done by Monday," the source said.

"Whether it gets sold in parts or pieces, they are in good shape to orchestrate this process," the source added.

Barclays, Citigroup, Deutsche, Jefferies, and Wells Fargo declined to comment, while other banks could not be reached immediately for comment.

(Reporting by Paritosh Bansal and Dan Wilchins; editing by Carol Bishopric)