Chicago Board Options Exchange  is eliminating its vice chairman board post and doing away with its trading advisory committee, shedding trappings of a member-owned structure that held sway prior to its June 2010 initial public offering.

Vice Chairman Mark Duffy, who has represented exchange members on the board, will remain in the role until CBOE’s annual meeting in May when the position goes away, according to regulatory filing.

Trading advisory committee could be replaced by a new “advisory board” that may advise CBOE Chairman and Chief Executive William Brodsky on trading matters.