Jefferies Group said it is considering strategic options for the commodities and financial-derivatives unit it bought from Prudential Financial in 2011, while also reporting volatility and a tepid trading environment dragged down results in its November quarter.

Jefferies bought the Bache unit - one of the most storied names on Wall Street - in mid-2011 as the firm sought to grow from a securities-industry boutique focused on stock trading into a full-service investment bank that helps clients raise money and trade stocks, bonds and derivatives, where investors and big industry players transfer the risks of future price movements.