CBOE "happily solo," no need for M&A: CEO Brodsky

BONITA SPRINGS, Florida Mon Mar 12, 2012 1:54pm EDT

William Brodsky, chairman and chief executive officer of the Chicago Board Options Exchange, speaks during the Sandler O'Neill's Global Exchange and Brokerage Conference in New York June 10, 2011. REUTERS/Lucas Jackson

William Brodsky, chairman and chief executive officer of the Chicago Board Options Exchange, speaks during the Sandler O'Neill's Global Exchange and Brokerage Conference in New York June 10, 2011.

Credit: Reuters/Lucas Jackson

BONITA SPRINGS, Florida (Reuters) - The Chicago Board Options Exchange sees no need for a merger and is "happily solo," CBOE Holdings Inc (CBOE.O) CEO William Brodsky said on Monday.

In an interview with Reuters, Brodsky also confirmed that the Securities and Exchange Commission is investigating CBOE's compliance with its obligations as a self-regulatory organization. He added that the SEC has ramped up its oversight of self-regulatory organizations in many ways.

Brodsky was speaking on the sidelines of a conference.

CBOE Holdings, which runs the oldest and largest U.S. options market, said earlier on Monday that Patrick Fay, senior vice president, had resigned.

A CBOE spokeswoman said in an email that Fay resigned "recently" but did not specify when. The email said he resigned to "pursue other interests."

Fay was senior vice president of member and regulatory services for CBOE.

Earlier this month, The Wall Street Journal reported that Fay had been put on administrative leave following an SEC investigation that began in 2011.

The exchange operator disclosed a probe into its self-regulatory role in an SEC filing in February and said it was cooperating with the investigation.

(Reporting By Angela Moon; writing by Burton Frierson; editing by Andrea Evans)