On Tuesday at the CBOE’s annual media luncheon in Chicago, CEO Bill Brodsky told reporters that while CBOE Holdings Inc. (NASDAQ:CBOE) sees the benefits of industry consolidation, the exchange has no merger plans at this time.
Lynne Marek of Crain’s?wrote that while IntercontinentalExchange Inc.(NYSE:ICE) announced its plans to purchase NYSE Euronex (NYSE:NYX) last month, Brodsky doesn’t see the competitive landscape really shifting for CBOE.?
He said, “In many respects, it doesn’t change things much for us at all? as CBOE will continue competing with the two NYSE options exchanges as it’s been doing for years said the CEO.?
?In 2012, total options trading volume declined?for the industry, but it still ended as the second-highest year on record. CBOE’s products, including its indexes and volatility suite, fared well and are unique to the exchange.?
Brodsky noted, ?Our situation is the same as it’s been ? we have a clear recognition that there are benefits to consolidation. On the other hand, we’re in a very unique situation.?
In October, the exchange announced that Brodsky will step down in May after its 2013 Annual Meeting. It is anticipated he will take over the?Executive Chairman of the Board role.
Edward T. Tilly,?CBOE?President and COO, will take over as CEO after the Annual Meeting while Edward Provost,?CBOE?Chief Business Development Officer, will succeed Tilly?as?CBOE’s President and COO.