Notes:

• Commissions apply to all order types.
• Commissions are not charged for US exercise and assignment.
• Commissions are not charged for US cabinet trades.
• IB considers exchange fees and/or rebates in determining where to route an order. Under certain circumstances, IB may route a marketable order to an exchange that is not currently posting the national best bid or offer (NBBO) but which may be willing to “step up” and execute the order at the NBBO, in order to avoid or reduce the exchange fee for executing the order. If this routing method is used, the customer generally will pay a lower execution fee than customer would have otherwise paid. In those cases where IB routes to an exchange that is not currently posting the NBBO in order to reduce or avoid exchange fees, IB will guarantee the customer a fill at the NBBO at the time that IB routed the order.
• Volume breaks are applied based on monthly cumulative trade volume summed across all options contracts at the time of the trade. Contract volumes for advisor, separate trading limit, and broker accounts are summed across all accounts for the purpose of determining volume breaks. These fees are applied on a marginal basis for a given calendar month. If for example, you execute 12,000 US contracts in a month, your execution costs would be:

  10,000 contracts at USD 0.70
  2,000 contracts at USD 0.50

• Modified orders will be treated as the cancellation and replacement of an existing order with a new order. On certain exchanges, this may have the effect of subjecting modified orders to commission minimums as if they were new orders. For example, if an order for 200 contracts is submitted and 100 contracts execute, then you modify the order and another 100 contracts execute, a commission minimum would be applied to both 100 contract orders.
• Orders minimums will be applied to the individual legs of a COMBO order.

1. IB's Cost Plus commission models are not guaranteed to be a direct pass-through of exchange and third-party fees and rebates. Costs passed on to customers in IB’s Cost Plus commission schedule may be greater than the costs paid by IB to the relevant exchange, regulator, clearinghouse or third party. For example, IB may receive volume discounts that are not passed on to customers. Likewise, rebates passed on to customers by IB may be less than the rebates IB receives from the relevant market.
   
2. The Options Regulatory Fee ("ORF") is charged by the following exchanges: AMEX, BOX, CBOE, CBOE2, ISE, GEMINI, MIAX, NOM, PCX, PHLX.
3. Fee applies to the "Public Customer" Category only.
4. Transaction fees are only charged for sell orders.

Notes:

• Commissions apply to all order types.
• Modified orders will be treated as the cancellation and replacement of an existing order with a new order. On certain exchanges, this may have the effect of subjecting modified orders to commission minimums as if they were new orders. For example, if an order for 200 contracts is submitted and 100 contracts execute, then you modify the order and another 100 contracts execute, a commission minimum would be applied to both 100 contract orders. Orders that persist overnight will be considered a new order for the purposes of determining order minimums.

1. Volume tiers are applied based on monthly cumulative trade volume summed across all option contracts at the time of the trade. Only contracts that are traded while under the cost plus tiered pricing structure will count towards the monthly volume.
2. IB's Cost Plus commission models are not guaranteed to be a direct pass-through of exchange and third-party fees and rebates. Costs passed on to customers in IB’s Cost Plus commission schedule may be greater than the costs paid by IB to the relevant exchange, regulator, clearinghouse or third party. For example, IB may receive volume discounts that are not passed on to customers. Likewise, rebates passed on to customers by IB may be less than the rebates IB receives from the relevant market.