CBOE's Brodsky: Exchange can grow without merger partner

CBOE Holdings Inc., operator of the largest U.S. options exchange that went public last month, has no need for a merger partner, Chief Executive Officer William Brodsky said.

"We're not in need of someone else's money," Brodsky said in a July 26 interview. "We've shown we can run ourselves as an independent company, be profitable and produce a lot of cash." CBOE has been a for-profit exchange since 2006.

The Chicago-based company plans to expand its volatility trading and derivatives business as the U.S. Securities and Exchange Commission considers rules that, if approved, may shrink options revenue for CBOE and other venue operators.

U.S. trading volume has increased almost fivefold in the past decade, according to data from Chicago-based Options Clearing Corp.