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JLN Options: Options Week in Review Jan. 17, 2013 Newsletter,Options

The CBOE plans to revamp its 15-member board to make it more independent, in line with its rivals NYSE Euronext, Nasdaq OMX and ICE, whose board members have no direct ties to trading firms. The restructuring is part of the exchange’s response to an SEC investigation stemming from alleged violations of securities laws by a unit of OptionsXpress, the Wall Street Journal reported. The board changes were not requested by the SEC. The CBOE’s CEO Bill Brodsky, who will step down as CEO and let Edward Tilly take over in May, said the exchange has no plans for a merger…

JLN Options: CBOE Holds its Own in 2012 – JLN Options Newsletter,Options

CBOE holds its own in 2012by Sarah Rudolph William Brodsky has chosen an auspicious time to step down from his role as the Chicago Board Options Exchange’s CEO and become executive chairman of the board. The CBOE has seen steady growth in trading volumes from 2000-2011; average daily volume was down seven percent in 2012, but that was after the exchange hit a record high in 2011, and the 2012 number was an increase over 2010. “We had a good year in what was a relatively bad year for the financial industry,” Brodsky told a group of reporters at a…

JLN Options: Options Week in Review 12-13-2012 Newsletter,Options

In a win for the ISE and NYSE Euronext, who had spoken out against the practice, three of the four options exchanges that offered dividend trading have seen volumes in that trade disappear, Traders Magazine reported.  The three exchanges ended the practice after earlier eliminating the caps on fees for such trades — which largely eliminated the incentive to do the trades in the first place.  Nasdaq OMX PHLX is the lone holdout still offering such trading. The Chicago Board Options Exchange‘s Bill Brodsky announced he would step down as CEO of the CBOE after 16 years as its chief,…