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, 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)